[openbeos] Re: Non Profit Tax Deductions
- From: Mat Hounsell <mat_geek@xxxxxxxxxxxx>
- To: openbeos@xxxxxxxxxxxxx
- Date: Fri, 16 Jul 2004 15:16:56 +1000 (EST)
I'm not a USA tax accountant so consult one before you spend your money!
(Some of this is international non-profit advice.)
From what I can gather; as a member you get a deduction from your USA tax bill
for any expediture related to that USA organisation, limits and conditions
apply. So if your are earning money in the USA and a Haiku member you can get a
deduction of your USA tax bill. If you are not earning money in the US, too
bad.
It should be noted that it is generally simpler to have the organisation pay
for any group efforts, such as meetings and promotion, and 'offical persons'
efforts.
So for the AGM, each member attending would pay an attendance fee. That fee
should be deductible, in the USA. It would then pay for the venue, promotion,
crate of cola, food, internet equipment and service. If every member gets to
take home a leftover case of cola, that is acceptable. The chairmans cost may
also be paid for by the organisation, and so may a guest speakers, say an
attendee who has contributed a lot but can't afford it.
If an individual without payment authority for an organisation needs to make a
payment for it; it is best to agree with an official beforehand and get a
reciept and the a reimbursement.
It is better to keep the group from involvement in any individuals works
though. This is mainly for internal politics; and also as anything purchased
by the organisation, unless given as a gift, remains the property of an
organisation.
Individuals may get deductions, in the USA, for travel, equipment, books etc.
Remember, all organisations are subject to crimminal law and worse: internal
politics.
(If you're an Auuzzie there is no tax break.)
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