raenndrops
Coach
they dont get to count the buyout as a donation. and their $500 is divided amongst the whole team... the $500 just means they dont have to sell candy bars and wrapping paper to support the team... (so it is like they bought $500 worth of candy bars and threw them away).I doubt it's legal when a nonprofit requires a financial commitment from a specific person to enable that person to benefit from their non-profit status. It amounts to an individual converting income that's subject to tax into income that's become a donations and therefor a ta deduction. If that's allowed then all I have to do is get a hold of b/c that would receive all of my wages as a donation and then return 95% of that income. They make 5% and I save a bundle on taxes........
See you at Club Fed