[Noisebridge-board] Fwd: Re: question about tax deductions

Mitch Altman maltman23 at hotmail.com
Thu Oct 9 20:15:32 PDT 2008


I asked Carol if donations to Noisebridge are tax-deductable retroactively,=
 and she said that they are.  But gave a caveat about it.  Check out her em=
ail, below.
 =

Mitch.
 =




-------- Original Message -------- =




Subject: =

Re: question about tax deductions

Date: =

Thu, 09 Oct 2008 20:04:51 -0700

From: =

Carol Gee <carolgee at sbcglobal.net>

To: =

Mitch Altman <mitch at CornfieldElectronics.com>Hi Mitch:The tax deductibility=
 of donations is retroactive IF the tax exempt application is approved, so =
long as it is applied for in a timely  manner (I think when I last looked, =
it had to be filed with the IRS within 27 months of incorporation in order =
for there to be retroactive treatment).  SO, all donors must be advised of =
this, and advised to discuss with their tax advisors whether or not they ca=
n claim the deduction before the application is actually approved, as for e=
xample pertaining to donations made in this fiscal year, because I doubt th=
e approval will be obtained that quickly.Does that make sense, or did I jus=
t commit a Palinism?Rgds,Carolon 10/9/08 2:52 PM, Mitch Altman at mitch at Cor=
nfieldElectronics.com wrote:
Hi Carol,We got our bank account today at Wells Fargo Bank.  (And PG&E and =
phone and cable-internet.)We'll be getting insurance very soon.Here's anoth=
er questions people have been asking:Once we have 501c3 status, are tax exe=
mptions available for donations made now? or do exemptions apply only to do=
nations after we have 501c3 status?  Thanks,Mitch.
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