Could I establish a ‘go-fund-me’ page to help support the travel needs of politican’s family members? Would that be tax-deductible as a donation?

AI RESPONSE

Creating a GoFundMe page for political family members is feasible, but the tax implications can be complex. Here are some points to consider:

Establishing a GoFundMe Page

1. Purpose: Ensure that the campaign clearly states the purpose of the fundraiser (e.g., travel expenses for family members) and adheres to GoFundMe’s guidelines.
2. Transparency: Provide detailed information to potential donors about how funds will be used.

Tax-Deductibility

1. Personal Fundraisers: Donations made to personal campaigns (like a family’s travel needs) are generally not considered tax-deductible for the donor. GoFundMe pages for individuals typically do not qualify as charitable contributions under IRS rules.
2. 501(c)(3) Organizations: If the fundraiser were associated with a registered charity (a non-profit organization), donations could be tax-deductible if the organization is recognized by the IRS.
3. Consult a Tax Professional: It’s advised to consult with a tax professional to understand specific implications and ensure compliance with laws.

Conclusion

While you can set up the campaign, donors likely won’t receive tax deductions for contributions unless the funds are part of a qualified charity. Always check local laws and regulations before proceeding.

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