2007-05-15 13:05:12 · 5 answers · asked by favbansing 1 in Business & Finance ➔ Taxes ➔ United States
Have her visit a tax consultant. She could setup a foundation and have complete control over who receives the funds.
2007-05-15 13:11:42 · answer #1 · answered by Natural Medicine Man 4 · 2⤊ 0⤋
If she donates money to a school for a scholarship, and the school chooses the recipient, she could write it off as a charitable donation.
If she is specifying who will receive the scholarship, she can't write it off. Donations specified to be given to a partiular individual are not deductible.
Beyond this, she'd be setting up some sort of charitable organization or foundation, and would need a lawyer for that.
2007-05-16 03:28:16 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
If she donates money to a school for a scholarship, and the school chooses the recipient, she might desire to place in writing it off as a charitable donation. If she is specifying who gets carry of the scholarship, she would be in a position to't write it off. Donations particular to take delivery of to a partiular guy or female at the instant are no further deductible. previous this, she'd be installation some style of charitable enterprise or beginning up place, and ought to desire a criminal professional for that.
2016-11-23 15:55:13 · answer #3 · answered by declue 4 · 0⤊ 0⤋
She has to form a proper non-profit organization, file yearly reports and tax returns for the organization etc. etc. The IRS is smart enough to detect phony organizations set up for personal gain. But,, if it's legitimate and the beneficiaries are not friends, relatives or officers of the charity, it can easily be done....you'll need a good lawyer to set it up....
2007-05-15 14:55:16 · answer #4 · answered by squeezie_1999 7 · 1⤊ 0⤋
She'll need to set up a registered charitable foundation. Definitely a job for an attorney and a CPA.
2007-05-15 13:15:39 · answer #5 · answered by Bostonian In MO 7 · 1⤊ 0⤋