Anything OBEY related
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- Art Connoisseur
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- Joined: Mon Jan 02, 2006 2:00 am
You don't get to deduct a donation when you receive something in exchange for said donation.virtualj wrote:My accountant told me you can't double dip, it's one or the other. Maybe yours had a different opinionmattlew69 wrote:Buy this year and write off the tax deduction.
Sell next year and write off the profit/loss.
You just have to hold onto a set for more than 6 months.
WaltJocketty wrote:You don't get to deduct a donation when you receive something in exchange for said donation.virtualj wrote:My accountant told me you can't double dip, it's one or the other. Maybe yours had a different opinionmattlew69 wrote:Buy this year and write off the tax deduction.
Sell next year and write off the profit/loss.
You just have to hold onto a set for more than 6 months.
depends on what the "fair market value" is for the item
https://www.irs.gov/uac/nine-tips-for-c ... -taxpayers
When you receive something in return If your contribution entitles you to receive merchandise, goods, or services in return – such as admission to a charity banquet or sporting event – you can deduct only the amount that exceeds the fair market value of the benefit received.
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- Art Connoisseur
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- Location: Charleston, SC
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wonder if they ever sent all those postcards out...never really heard anything about that.
Trigger pulled.
Wow, looks like I got the last set!
- halftonegraphics
- Art Freak
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are those panties on her head?
I broke something today, and I realized I should break something once a week.. - Warhol
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- cmatthews11
- Art Expert
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+1Kdh12 wrote:I have been a letterpress completist
Until now