ANSWERS: 6
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No, I had a computer store for many years, if it rained I would always have some nut come in and want insurance papers filed for them. Then if their was something wrong they wouldn't even have me build the new computer. Screw them, what are they doing but possibily getting you in trouble with the IRS
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no If the dealer wanted to help out a little more maybe but to risky we could walk before I end up in jail and the kids end up on the streets.
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Is this a real life situation? I would have to say no because this could put me in deeper debt and more trouble than what I would already be in.
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Of course. Number one, I know (whether he does or not) just how those letters have to be written, and number two, I would delegate that to our accountant who does the required quarterly filings for the IRS. Any such 'report' has to say "Thank-you for your in-kind donation..." and list the item. This is especially true of vehicles of any kind. The government is wise to this sort of thing, and while it can be done, it is difficult to fool Uncle Sam when it comes to vehicles. (They have access to the weekly auction reports that dealers get.) Moreover, value is subjective and true 'retail' can be whatever the market will bear. As example, years back, certain Toyotas were selling for MORE than sticker, simply because of demand. The same occured when Ford rolled out the Mustang (one excited customer drove right through the showroom glass walls). That would be the job of the accountant, and the dealer would know that as well. And finally, once he has his letter, his accountant can (and some do) play with it in different ways to get the most value from it, so that it is worth more than simply twice the value to him. People who deal with 501(c)3 organizations already know this, more so than shop owners and the general public. A letter acknowledging a donation has to list the donation, or the organization could jeopardize their non-profit status with the government.
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No. Its wrong and if the IRS catches you... I shudder to think.
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No way. You are risking not only your own reputation but the futures of the children in your care. If you are having trouble making ends meet, seek help from government and non-government agencies, and find someone who can give you financial advice, on how to make donations go further/how to find new sources of income. I deal with orphanages overseas, and they have had to think outside the square to feed their children, including growing cash crops and making handicrafts. A webiste helps too, as you can advertise that you exist.
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