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Do you have knowledge on tax laws regarding non profit

Do you have knowledge...

Do you have knowledge on tax laws regarding non profit donations and so forth?

Accountant's Assistant: Can you tell me where the nonprofit is registered?

State of FLorida

Accountant's Assistant: Has anything been officially filed? If so, what?

Yes, we are a registered 501 c 3 recognized by Guidestar.org

Accountant's Assistant: Anything else you want the lawyer to know before I connect you?

That is it so far

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Answered in 3 minutes by:
8/23/2017
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional
Category: Tax
Satisfied Customers: 2,775
Experience: IRS Licensed Enrolled Agent, CDFA ® CFP ®, MBA
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Customer reply replied 12 months ago
Hi, I currently have a non profit. I am wondering if my donations to the non profit are tax deductible.

Yes, you are able to make tax deductible contributions to a non for profit organization for the purposes of education, religious, scientific, and fostering national or international sports competition as well as preventing cruelty to children or animals

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Customer reply replied 12 months ago
This is ok, regardless if I am the president of the Non Profit. Correct?

Yes, that is ok. As long as the funds are used for the non for profit organization and the 501C 3 has filed an application with the IRS

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Is your concern about the donation solely based around the fact that you are the president on a board of directors for the 501 c3?
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If you have no further questions please accept and rate the answer.

A positive rating is appreciate so I am credited for assisting you.

Thank you!

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Customer reply replied 12 months ago
that is my concern.

The non profit should have a board of directors in place. You are able to take a deduction for a donation, but you IRS may scrutinize the donation more closely because of your relationship with the non for profit.

Your donation amount would be reduced by an benefits your receive from the charitable organization due to the donation.

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If I have answered your concern please take a moment to accept the answer so I may close out this question and be compensated for the work I have done.

Thank you very much!

Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional
Category: Tax
Satisfied Customers: 2,775
Experience: IRS Licensed Enrolled Agent, CDFA ® CFP ®, MBA
Verified
Chad EA, CDFA®, CFP® and 87 other Tax Specialists are ready to help you
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Customer reply replied 12 months ago
Hi , I have another question.
When it comes to leasing a vehicle through the non profit, how does this work. Who's credit score does the dealership use or do they check for one at all. The president of the company, an officer of the company etc.
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