Folding Forum

If I give a monetary donation to a university, I can deduct it on my taxes. Wouldn't it be great if Stanford could provide a receipt for new dedicated FAH hardware that could be used as a one-time tax writeoff?

AgrFan wrote:If I give a monetary donation to a university, I can deduct it on my taxes. Wouldn't it be great if Stanford could provide a receipt for new dedicated FAH hardware that could be used as a one-time tax writeoff?

Ship the hardware to them and they probably will. If you want to keep the hardware for some other reason, then the tax man isn't going to allow your donation.

AgrFan wrote:If I give a monetary donation to a university, I can deduct it on my taxes. Wouldn't it be great if Stanford could provide a receipt for new dedicated FAH hardware that could be used as a one-time tax writeoff?

I don't think the tax code is set up to cover that type of donation.

So far, nobody's seen a way to convert a WU to a charitable donation. (Even though there are people who offer to sell F@H points on eBay.)

It least it's better than the laws concerning donated blood: if you do it for money, it's taxable; but if you do it voluntarily without getting paid, you can't take a deduction for its value.

sneakers55 wrote:It least it's better than the laws concerning donated blood: if you do it for money, it's taxable; but if you do it voluntarily without getting paid, you can't take a deduction for its value.

The tax man likes to do that sort of thing. If you take your bottles and cans to a recycling center that pays you for them you're supposed to declare it as income on your tax return. The deposit you pay when you buy the liquid that they contain, it's not deductible.

There's no saying you can't try to deduct it. Or better yet, start a charity support charity and just non-profit it all or something, I dunno. If you can prove it's only for FAH and not WoW....

I've been thinking about starting my own charity.