RMEF - A great tax deduction

[mxracer317]

Hey guys and gals, just to be clear in posting this that I have absolutely no affiliation with RMEF, other than being a member myself.

My profession as an investment advisor causes us to use donor advised funds for our clients who are looking for a tax-deduction.

Many on the forum may not know about the power of DAF’s or the fact that you can use donor advised funds with RMEF.

It’s worth checking out, as it might help you & RMEF. Win-Win.

Click HERE for a link to learn more.

Before you do any donations for tax purposes, check with your tax-professional first.

 

[Hammsolo]

@Big Fin ?

 

[OntarioHunter]

Question: Does winning a bid for an auction item classify as a charitable donation? Or just any amount above the appraised value of the item purchased? Just curious.

 

[Big Fin]

@Big Fin ?

We have used donor advised funds a lot for clients. Sometimes it is the best solution for their tax planning and fulfilling their charitable wishes. Like all things, talk to your advisor(s) and make sure it accomplishes what you are look to accomplish.

@OntarioHunter - I answered your question on a different thread earlier today. The answer is NO.

 

[Corn king 60]

Question: Does winning a bid for an auction item classify as a charitable donation? Or just any amount above the appraised value of the item purchased? Just curious.

I have bought many items at RMEF auctions over the years. All the ones I’ve been to gave me a receipt that shows fair market value. The deductible would be what you paid over that.