Thanks Barb, for that information. I just had a conversation with my son,Chris. Here'e the scoop. Even if the HO would accept the money,?although we could deduct it as a business expense, John would have to declare the money he got from the HO?as income. We can give John as much money as we want, as a gift. However, we cannot deduct any of it, except that we can designate up to $600 as?a "promotional" deduction, or as contract labor. By the same token, John does not have to declare any of the money we give him.?The only time he has to report a gift is when it's more than $13,000 from any one individual. The only way we?could deduct the money we give him is if we gave?the money?to a charitable organization set up specifically for the purpose of accepting gifts. The charitable organization has to be set up and recognized according to IRS rules.?Or we can set up a foundation, set up for the same purpose. Perhaps if John's family or home town would set up a fund for John, then that is to whom we should send the money. As much as we all want to help John, maybe?we should wait a while before sending him money. But I'm sure he would appreciate cards and letters. Wim -----Original Message----- From: Barbara Cassaday <barbcassaday at sbcglobal.net> To: wimblees at aol.com; Pianotech at PTG.org; caut at ptg.org; Barbara at ptg.org; Board at PTG.org Sent: Fri, 1 May 2009 8:08 am Subject: RE: Tax help for John As a 501(c) (6) PTG is not set up to take tax deductible contributions. There is no advantage to running them through the HO. Barb ? From: wimblees at aol.com [mailto:wimblees at aol.com] Sent: Friday, May 01, 2009 12:40 PM To: Pianotech at PTG.org; caut at ptg.org; Barbara at ptg.org; Board at PTG.org Subject: Tax help for John ? I have just asked my son, a CPA, what the best way to handle the tax consequences for a donation to John. I haven't heard back from him yet, but perhaps instead of writing and sending the check directly to John, that we make the check to the PTG, and designate it for John. But then the HO would need to process that. Would the HO be willing to do this, would the Board need to approve?this, or is this something Barbara can take care of in house?? Wim ? Can't afford a new spring wardrobe? Go shopping in your closet instead! -------------- next part -------------- An HTML attachment was scrubbed... URL: <http://ptg.org/pipermail/pianotech_ptg.org/attachments/20090501/fa282d27/attachment.html>
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