AboutJohn Stancil, CPA Expertise I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I teach tax and accounting at a small church-related college. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a part time tax practice for over 30 years. I am a member of the AICPA, National Society of Tax Professionals, and the Institute of Management Accountants.
Experience I hold a doctorate in Accounting, and four professional certifications: CPA, CMA, CFM, and CIA. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I write a monthly tax column for the local newspaper.
Expert: John Stancil, CPA Date: 7/11/2008 Subject: delayed quid pro quo
Question Scenario... fundraisers and donations raise money for youth camp ($200/camper)to lower the fees required by campers (to say... $50 per camper). These donations all qualify as "tax deductible". However, if campers are children of financial supporters of the church, should the $150 reduction in camp fees be debited from the annual donation statement issued to the child's family? Would this also be true for any scholarship for any fee-based event?
Answer Kenneth,
Thanks for your question.
Unless the parents gave money specifically designated for their children, it would remain deductible. In other words, they contributed $100 toward the camp fund that went to all campers, and not to their children specifically. That would be deductible. If they gave $100 designated specifically for their child, it would not be deductible.
