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| *The Commerce Journal>>>United States Taxes |
Can anyone tell me about taking tax deductible donations to our pet rescue group without having the 501c3? |
We are a small group in Oklahoma with only foster homes, and don't want to go all the way with the costly 501c3. Someone has mentioned a way to have donations tax deductible without it. We would get some more donations from people if they could have it as a deduction. This person said we would be similar to a 501c3 non profit, but we would not be able to get grants. No, 501(c)(3) is the only way for donors to deduct their contributions. What this person is telling you is wrong. Unless you are a 501(c)3 organization, donors can't deduct their contributions. No, sorry, there is no other way. The only exception to a formal 501(c)3 is for churches. |
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