I am trying to sort out how to determine wether or not contribution will deductable for members so I will know how to input it. Periodically we have guest speakers. We have a line on our church contribution envelope that we use for other offerings such as this (this line just say "other" offering.) The church may or may not add additional money from the general fund when a check is given to the speaker. (We are a small church and normalkly this amount is around $100.) If I were to set up a "speaker" fund and desiginate this offering to that fund would this make their contribution deductable or would it still be considered giving it to a designated person?
Carla
Speaker Offerings
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Re: Speaker Offerings
This sounds more like an 'honorarium', are these deductable ?? I'd check with an accountant to be sure.CJ wrote:I am trying to sort out how to determine wether or not contribution will deductable for members so I will know how to input it. Periodically we have guest speakers. We have a line on our church contribution envelope that we use for other offerings such as this (this line just say "other" offering.) The church may or may not add additional money from the general fund when a check is given to the speaker. (We are a small church and normalkly this amount is around $100.) If I were to set up a "speaker" fund and desiginate this offering to that fund would this make their contribution deductable or would it still be considered giving it to a designated person?
Carla
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.
Designated Person
CJ
For me it is interesting that I looked into this a few days ago.
We are located in Canada but I am sure it will apply in the US as well.
Our friendly tax department? stated, you can safely set up a separate "Speakers Fund" but make sure "Speaker" is plural. If the members that contribute to that fund does not specify any name it is not considered to be a "Designated Person" and is therefore entitled to a Tax receipt. If a name is specified you may want to "Overlook it" and have a bit of a talk with the member, in fact only a portion of any contribution to that fund may be used on any one particular speaker. In short it is donated to your church for "Member Improvement?" and used as your church seems fit.
Let us know what you do.
Otto.
For me it is interesting that I looked into this a few days ago.
We are located in Canada but I am sure it will apply in the US as well.
Our friendly tax department? stated, you can safely set up a separate "Speakers Fund" but make sure "Speaker" is plural. If the members that contribute to that fund does not specify any name it is not considered to be a "Designated Person" and is therefore entitled to a Tax receipt. If a name is specified you may want to "Overlook it" and have a bit of a talk with the member, in fact only a portion of any contribution to that fund may be used on any one particular speaker. In short it is donated to your church for "Member Improvement?" and used as your church seems fit.
Let us know what you do.
Otto.