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Charitable Contribution?

S

Sunin

[H]ard|DCer of the Month - August 2008
Joined
Dec 27, 2005
Messages
3,421
I was curious since we are all donating equipment and power costs to the cause, has anyone looked into making this a charitable contribution, and thus tax deductible... kinda easing the sting of the investments?

 
The IRS does not allow it. Or so I have been told here at the DC sub forum. Others have asked this as well!
 
Being a CPA, I have to believe that there has to be a way to get this to be charitable. I mean yeah you would have to show some sort of proof that your power bills that averaged say $50 went to Average $100, and that X amount of computers are 100% use and then depreciate their cost. Just seems like something that should happen!



 
Sunin said:
Being a CPA, I have to believe that there has to be a way to get this to be charitable. I mean yeah you would have to show some sort of proof that your power bills that averaged say $50 went to Average $100, and that X amount of computers are 100% use and then depreciate their cost. Just seems like something that should happen!



Click to expand...

See if you can make it happen!;)

Let me know how the audit goes!:p
 
Pocatello said:
See if you can make it happen!;)

Let me know how the audit goes!:p
Click to expand...

My boxen are going to be for "business use". Thank the Lord we have remote access. :D That's 30% off when I get my refund next year. One hell of a long MIR, but it's still $$.

However.... the power bill is interesting.... Is it worth and audit?

Probably not.

 
Sunin said:
Being a CPA, I have to believe that there has to be a way to get this to be charitable. I mean yeah you would have to show some sort of proof that your power bills that averaged say $50 went to Average $100, and that X amount of computers are 100% use and then depreciate their cost. Just seems like something that should happen!



Click to expand...

I live in EU so we have different laws.... I will try to find out if its possible :)
 
Just one point to consider. You are not actually donating electricity to Stanford. You didn't run a powercord from your house over to California to run some of their computers. You didn't donate any computers either, unless you packed one up and shipped it to Cali.

You are donating Work Units. If you can calculate and show a standardized cost for each WU, and then get a receipt from Stanford for those WUs each year, you may have a shot with the IRS. It's not unlike donating clothes to Good-Will. Keep the receipt! ;)

However, you can donate funds directly to Stanford, and get a receipt that is tax-deductable. Donate Here. Be sure to ask your employer about their donation programs. Many will match your donation to an educational institution dollar for dollar, effectively doubling your donation. :)
 
My question about that donation is how much goes to the F@H project? That seems to be a general Stanford Fund.

N/m. read further. Trying to find the matching info for work.
 
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