Many of us are spending large sums of cash on entry fees for open water races. Many of the organizers of these races have organized as non-profit (501)(c)(3) corporations (GCBS, Save The Bay, etc).
Are you listing these entry fees as deductions on your tax return? Is there a swimmer/accountant who would like to stick their neck out with some advice for us?
Thanks,
Hopper
www.swimvacation.com
Parents
Former Member
OK, but say for instance in the case of the Great Chesapeake Bay Swim, the organizers state that 38.6% of the entry fee goes to administrative costs and t-shirts, and 61.4% of the fee goes directly to charity. Would the 61.4% be deductible?
Thanks,
Hopper
www.swimvacation.com
OK, but say for instance in the case of the Great Chesapeake Bay Swim, the organizers state that 38.6% of the entry fee goes to administrative costs and t-shirts, and 61.4% of the fee goes directly to charity. Would the 61.4% be deductible?
Thanks,
Hopper
www.swimvacation.com
