Advertisement

Sound Off

The Buxton-Hughes Show at the Granada was advertised as a fundraiser for Lawrence Memorial Hospital. Since it was a fundraiser, and all of the proceeds are to benefit the hospital, why were none of the ticket prices deductible for income tax?

According to Heather Ackerly, relations manager at LMH endowment association, the Buxton-Hughes concert was a fundraiser for the hospital, and the IRS requires charities to inform donors of the fair market value of any services or goods they receive as a result of a donation. The price for a general admission ticket for the Buxton-Hughes concert was $25. Since concert-goers can reasonably expect to pay $25 to attend to a concert, that means people who purchased tickets received $25 worth of services. Therefore the donation cannot be tax deductible, Ackerly said.

Comments

Use the comment form below to begin a discussion about this content.

Commenting has been disabled for this item.