How do I divide up the tax deductions? Is it better to give some people deductions, or give everyone partial deductions?
It is up to you to decide who receives tax deductions. Anyone who gives online (highly discouraged) will automatically receive deductions. Besides that, it is up to you to designate on your program fee accounting sheet (which is in your pre-field manual) which of your donors should receive receipts. To give you a rough idea, tax deductions will be most valuable to people who have money and/or people who give you a lot of money. You cannot designate the tax receipt for a portion of a donor’s donation, because this can be confusing for donors (to receive a receipt for an amount different than what they donated). The only exception to this is if one donor gives more than the allowable maximum receipt, in which case we can write that one donor a receipt for the maximum. (For example, if your parents pay for most or all of your program fee, we can send them a tax receipt for the entire amount that is tax deductible, but then none of your other donors can receive receipts). Most people choos
Related Questions
- Tax Deductions: Tax Dedutions FAQs Q.When should I choose to itemize my deductions instead of taking the standard deduction?
- Which tax deductions and credits are automatic, and how can additional deductions and credit be entered?
- How many currently uninsured people would this provision tax deductions help?
