Blank

For everyone who has to fill out all the back to school membership forms, consider this:

Dues and Membership Fees to 501(3) c organizations such as PTA, Boy and Girl Scouts, and school booster clubs ARE considered charitable contributions if:

- the annual required fee is $75 or less. You can pay and deduct more than $75, as long as the

required fee is under $75.

- member benefits for joining are do not exceed $9.50 in value to Member Only events. Member

benefits can include:

*Free or discounted admission to the organization's facilities or events,

*Free or discounted parking,

*Preferred access to goods or services, and

*Discounts on the purchase of goods and services.

For all you Alumni Athletic Supporters:

If you make a payment to, or for the benefit of, a college or university and, as a result, you receive the right to buy tickets to an athletic event in the athletic stadium of the college or university, you can deduct 80% of the payment as a charitable contribution.

If any part of your payment is for tickets (rather than the right to buy tickets), that part is not deductible. In that case, subtract the price of the tickets from your payment. 80% of the remaining amount is a charitable contribution.

** Charitable contributions for individual taxpayers are only deductable if you 'itemize’ using schedule A. If you have a sole proprietorship (schedule C) it may be better to have your business sponsor the organization as this reduces your taxable income. If your business is incorporated, it may only deduct up to 10% of it’s net income as a charitable contribution - again, becoming a sponsor can be more advantageous.