A friend of our organization has rented out an expensive venue to hold a concert, each ticket is $100 and all proceeds are going to our organization.
We aren't in anyway paying for the venue. The friend is paying the venue directly and he is not being reimbursed for renting it.
How much of each $100 ticket is tax-deductible?
Answer 1 :
None. Benefiting a non-profit is great, but if you receive something in return for a donation, it's not counted as a charitable donation - it's counted as a purchase. Sorry.
Answer 2 :
Nothing in your question indicates that ANY of the ticket price is tax deductibe. If this is a concert where the tickets normally go for $60, then the additional $40 would be deductible. But in this case it sounds like $100 is the normal (even if there's only one showing and it's all benefit) price of a ticket.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment