The CPA Desk

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Tag Archives: auction

Is Your Not-For-Profit Tax-Compliant with Fundraising Auctions?

Auctions have long been lucrative fundraising events for not-for-profits, but these events come with tax compliance responsibilities. Acknowledging Item Donations If you auction off merchandise or services donated to your charity, you should provide written acknowledgments to the donors of the auctioned items valued at $250 or more. You won’t incur a penalty for failing… Continue Reading