Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

This answer was rated:

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

Show More
Show Less
Ask Your Own Tax Question
Answered in 3 minutes by:
8/23/2017
Chad EA, CFP ®
Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional
Category: Tax
Satisfied Customers: 2,317
Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA
Verified

Welcome to JustAnswer! My name is ***** ***** I will be able to assist you today

What is your specific question?

Ask Your Own Tax Question
Customer reply replied 9 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

Ask Your Own Tax Question
Customer reply replied 9 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

Ask Your Own Tax Question
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?
Ask Your Own Tax Question

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!

Ask Your Own Tax Question
Customer reply replied 9 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.

Ask Your Own Tax Question

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, CFP ®
Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional
Category: Tax
Satisfied Customers: 2,317
Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA
Verified
Chad EA, CFP ® and 87 other Tax Specialists are ready to help you
Ask your own question now
Customer reply replied 8 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.
Was this answer helpful?
Ask Chad EA, CFP ® Your Own Question
Chad EA, CFP ®
Chad EA, CFP ®
Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional
Category: Tax
Satisfied Customers: 2,317
2,317 Satisfied Customers
Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA

Chad EA, CFP ® is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,495 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,272 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
I had a question about tax laws in New York state for small
Hi Pearl. I had a question about tax laws in New York state for small businesses … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,272 satisfied customers
Is the FICA tax on my salary tax deductible? The paid FICA
The paid FICA amount shows on my W-2 and I wondered if it is tax deductible on my tax return - … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Is there a donation amount limit for tax deduction when you
Is there a donation amount limit for tax deduction when you donate money to missionary organization?… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
Are property taxes on a first and second home tax deductible
Are property taxes on a first and second home tax deductible in the same year on schedule A?… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I live in state and would like to take a sales tax deduction
I live in Washington state and would like to take a sales tax deduction (made a major purchase). My local sales tax is 10.10%. I paid 10.30% taxes on the boat in another town in state. I'm filing 1040… read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,113 satisfied customers
Are any closing costs tax deductible? Bought a new
Bought a new construction home in April of 2017, Mortgage Interest Statement has mortgage interest and mortgage insurance premiums on the statement to deduct. 0 points. Closing statement has insurance proration, prepaid interest, Homeowner's insurance and property taxes for 2 months. Are these deductible? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,113 satisfied customers
I have question regardind state tax deductions for
I have question regardind state tax deductions for 2017.Besides the state tax I paid(NJ). for 2017 I am also paing the ste monthly for additional tax oed for unreported income for 2011,2012 and 2013.S… read more
Dr Arthur Rubin
Dr Arthur Rubin
Doctoral Degree
24 satisfied customers
Does this qualify for a charitable or other tax deduction: I
Does this qualify for a charitable or other tax deduction: I shot some video footage for client A. I donate the footage to Client B which is a 501c non-profit. Client B will use the footage for market… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,272 satisfied customers
Taxes. In regards to the new tax laws. The child credit.
Taxes.In regards ***** ***** new tax laws.The child credit. Please explain. I have 4 kids. Is it a deduction or a credit. And is there a limit and I believe I read It's 2k per kid. Do you simply get c… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
What tax deductions for a professional who contributes
what tax deductions for a professional who contributes significantly to dependent elderly parent? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,272 satisfied customers
How can I solicit tax deductible donations and sponsorships
Hello. How can I solicit tax deductible donations and sponsorships for my conference that is not a 501(c)(3)? Can I place the conference under an entity that has 501(c)(3) status? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Can a deduction be taken as a donation if you donate a
Can a deduction be taken as a donation if you donate a handmade wooden library file cabinet to a historic Cemetery, i.e. Oakland & Fraternal Historic Cemetery, Little Rock, Arkansas … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Is j trump for president, inc. a charitable organization?
Is Donald j trump for president , inc. a charitable organization? … read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
I have a museum membership that is tax deductible, I'm using
I have a museum membership that is tax deductible, I'm using TurboTax, which section should I input this data to? Do I need any documentation? Thanks… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,272 satisfied customers
If I donate my time share slot to a tax deductible
If I donate my time share slot to a tax deductible organization ( in this case a private school), can I deduct the week that it is otherwise worth? Also, if need to pay an exchange fee because they wa… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,026 satisfied customers
As per the new tax law, the property tax deductions of 10000
As per the new tax law, the property tax deductions of 10000 is it per property or per tax payer per property?If both wife and husband file together can they claim 20000 towards one property or just 1… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
The 2018 tax law will allow homeowners to deduct property
The 2018 tax law will allow homeowners to deduct property taxes and either income or sales taxes with a combined limit on these deductions being limited to no more than $10,000. What does this mean? w… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,272 satisfied customers
If a charitable organization offers a lifetime membership,
If a charitable organization offers a lifetime membership, which would otherwise not be deductible because related current and future tangible benefits approximate the cost, is any part of the members… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x