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donation rcpt

19 years 9 months ago #100214 by Ty's Mom
Replied by Ty's Mom on topic RE: donation rcpt
You just want to be careful when issuing reciepts that you have taken out any goods or services portion of the donation.

You also want to be sure in your thank you letter that you say the donation is allowable to the fullest extent of the law. This is so that people who may not qualify for the deduction can't become upset saying you told them it was deductible.
19 years 9 months ago #100213 by buffetfan
Replied by buffetfan on topic RE: donation rcpt
Thanks for the info!! I went to the IRS link and printed part of Pub 78 and part of Pub 526 which included the details for donations (including donations over $250.00). Now I have what I need to issue rcpts to our parents!! So glad for all your experience!!
19 years 9 months ago #100212 by mum24kids
Replied by mum24kids on topic RE: donation rcpt
If you're in a state where you get a tax exemption certificate, I think that is what most people use to prove their exemption to businesses, because you're trying not to pay sales tax when you buy something from them.

But, if you're looking to prove that you are exempt so that someone can deduct their donation to you, that's a Federal (IRS) issue (although some people still accept the state exemption certificate as proof). You can provide them with a copy of your "determination letter," which is the letter the IRS sent to you after they accepted your original application to be exempt. Some larger companies now just check your exempt status online through IRS Publication 78 rather than making you produce the determination letter--you can check yours here: www.irs.gov/charities/page/0,,id=15053,00.html

As for the donation receipt, if you get a donation greater than $250, the IRS does specify certain wording that needs to be in it. But assuming your donations are less than that, pretty much anything you send them is ok.
19 years 9 months ago #100211 by mykidsmom
Replied by mykidsmom on topic RE: donation rcpt
If you can send a thank you to the participates, often that is considered a reciept. Our VP is a CPA and that says that works but it would be easy to call the school district office to ask.

As far a businesses, I carry the certificate from the state with me. I know here, Wal-Mart issues a card to you (not with out it's share of paperwork) but I find the offical document with your tax-exempt number does the job.
19 years 9 months ago #100210 by buffetfan
donation rcpt was created by buffetfan
We just had our annual "fund run" this past friday. Just wondering if any of you issue donation receipts. We are non profit and want ensure our families receive their tax info. Not sure if there is a standard form. Also, what form do you provide your local business to show that you are tax exempt? Thanks for any info!!
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