Are Commission Donations Tax Deductible?

[cheferikab]

Do fundraisers have to be for non-profits? I know a girl who is looking to take an educaitonal trip and her mother wanted to know if she culd do a PC fundraiser for her. Is this possible?


Erika

 

[chefann]

She can do it, but the check will NOT be made out to an individual. The family will need to open an account with a name like "Suzy Student Trip Fund."

 

[cheferikab]

I didn't think they would send the check to her, but I just wanted to double check. Thanks for the idea about the second account. I'll let her know.

 

[ChefBeckyD]

When I did a fundraiser for a friend to help pay medical expenses, I just did an account at my bank that had my name, and "Michelle's Fund" listed - then had everyone make out checks to Michelle's Fund. Once the fundraiser was over, I transferred the money from the show to my PC account(there was also money in the account that were added donations from people), to cover the debit from PC, then when the check came - sent to Michelle's Fund C/O Becky Deemter, I deposited it into Michelle's Fund, and wrote out a check for the total amount that was in the account, and closed the account.

Hope that makes sense!

 

[finley1991]

I heard another idea that I liked... and this will only work if you want more product. What you can do is do the show as normal and keep the host benefits for yourself. Then write the host or whoever the FR is for a check equal to the ammount of your commission. Good way to stock up on things you might want. Just an idea....

 

[legacypc46]

tax questionI usually give a percentage of my commission in addition to TPC's 15%. Is that tax deductable if it isn't to a non-profit organization?

Just curious...want to make sure I'm keeping whatever documentation I need come tax time!

Kris