Tax Deductible Organizations
May 9th, 2009
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Question: Are there any violations with making so-called tax-deductible donations to your spouse?
A man wants to donate about $40k to a non-profit organization where his wife works. In my opinion, this is legally tax deductible (at least up to half of his agi.) But he wants to restrict the funds to be paid only to his wife. Donations can’t be restricted by the donor right? Only restricted by events, task, or jobs but not specifically to a person? Now, with this being said, he is actually deducting a donation that has now been an unqualified charitible contribution. (so he isn’t suppose to write that off) On the other side of the picture….Can the donation really be restricted like that anyway? confused….help….and if possible give me links that are supportive of your reasoning…
Answer: Sorry, but he can’t restrict the donation to his wife. Once he gives the money to the charity, it’s their money. If he wants it to go only to his wife, then it’s not a deductible contribution, and the charity could get in big trouble with the IRS for agreeing to those terms. Also, he can’t write off unqualified charitable contributions. As far as links go, I’m a CPA and a Tax Preparer, so my links are myself. Also, if he does take these deductions you can report him to the IRS, and they do pay a reward for turning in tax cheats.
Items on Amazon Right Now for Tax Deductible Organizations:
Christmas rush gives way to last-minute donation rush
<PThe clock is ticking and 2009 is nearly history </p<P<pBut the clock ticks down on many things other than parties celebrating the new year — tax-deductible donations, for one </p
Harmonikids (Music Therapy Organization)
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