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Fair Market Value / Deductible Amount (per item/ticket)
planned
Max Friedman
Add the ability for admins to set the Fair Market Value of tickets and items, so that donors can take the remainder of their donation as a tax deduction.
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Special Needs Respite Inc
Once this is implemented, the value that can be deducted should be included in the emailed receipt to the purchaser - great feature idea!
Liran Cohen
planned
Todd Orner
Liran Cohen: Thank You!!!
Todd Orner
This is a VERY VERY important feature for anyone collecting more than simple straight donations. It's critical that I'm able to generate a receipt that reflects the true tax deductible amount. My 'real world' example is coming up in August. My foundation hosts an evening at a local playhouse. Tickets sell for $50 and cost us $25. That would mean only $25 is eligible for tax deduction consideration. My initial crowdfunding solution provider (GivingTools) has this feature baked into their campaign set up (see attached pictures) as "Value of goods received." If I don't have the capability to deduct the 'value of goods received' from an item, I will be forced to manually generate an additional receipt (acknowledgement of gift) for each transaction that shows the amount that is actually deductible. Thank you for your consideration. I will be happy to answer any questions.
The pictures: The Giving Levels portion of the campaign setup page where 'value of goods received' is input; The summary the donor sees before finishing the transaction; The body of the receipt/acknowledgement EMail the donor receives -- Please note that the summary and receipt show both the total transaction ($20) amount AND the Total Tax Deductible ($15) amount.
Sara Gladney
This is really(!) important for a silent auction especially. We ended up adding the value of the auction basket to the title of the item since you currently do not embed the item description in the email receipt. We then made sure to add the details about how to calculate the tax deductible amount from their total donation. This would be nice to have a dedicated field with the ability to embed into the emailed donation receipt.
