"StringerBell" <StringerB...[at]HOTMAIL.COM> wrote:

- quote -

Contributions which are earmarked or are received by a
charity under an understanding or commitment that they be
used for a specific individual don't qualify for an income
tax deduction. Under the tax code, these are gifts to the
individual. If they exceed $12,000 in a year to a
particular individual, the donor would be obligated to file
a gift tax return. As gifts, the recipient would not be
suject to any tax on the amounts received.

--Chris

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"StringerBell" <StringerBell[at]HOTMAIL.COM> wrote:

- quote -

Find a fiscal agent that is a 501(c)(3) certified nonprofit,
that has an exempt purpose consistent with aiding the person
you are raising money for. If they agree, checks will be
made out to them, they will keep a processing fee (generally
around 5%), and they will either turn the money over to you
or spend it for the exempt purposes you proposed.

- quote -

Gifts are not taxable to the recipient.

Stu

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

In a charitable benefit for a sick individual, Is there a
way to make the event "official" so that donations are tax
deductable ? (Thereby compelling people to donate more).

Of course it is a moot point if the receiver of the donation
has to pay taxes on what is brought in.

How are these things properly set up?

thanks

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >