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What about special event fundraisers (collecting cash for jeans day, office raffles, bazaar purchases, auctions, bake sales, etc. to fundraise for charity)?

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What about special event fundraisers (collecting cash for jeans day, office raffles, bazaar purchases, auctions, bake sales, etc. to fundraise for charity)?

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Raffles have never been tax deductible. Additionally, many common fundraising activities (see IR 88-120) are questionable and only borderline acceptable since they do not qualify for the “No goods or services were provided in exchange for this contribution” stipulation. If employees want a tax deduction, they must have a receipt. A company can provide a receipt stating what the employee paid for and the date; however, the onus is on employees to determine tax deductibility with their tax advisor (issues: substantial value, intangible benefits, gift, fair market value, etc.).

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