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May 2017 » Vacation Vouchers and Other Benefits...
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Joseph Foy, CPA, DPS, Frimette Kass-Shraibman, PhD, CPA, and Alexander K. Buchholz, CPA/CGMA
In BriefMany not-for-profit organizations have adopted incentive programs, such as vacation vouchers, to encourage noncash donations, such as automobiles. The deductibility of such donated assets is complicated by the valuation of the incentive received by the donor. The authors review the guidance under IRC section 170 with regard to such donations, and provide examples of questions to ask taxpayers and decisions to be made when determining the substantiality of the incentive benefit.
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