This subject has come up before regarding the tax status of the VAC. As I
understand it the VAC is a sub-group of the Wally Byam Club. Partly (I
would imagine) to use their tax exempt status. There are a number of
organizations that the IRS views as being tax exempt.. In our case I would
imagine we are organized under 501(c)(7) also known as a social club. As
such no one can give money for any reason to us a get a tax deduction. The
only organization that allows for tax for tax deductions are 501(c)(3)
organizations which are organized for charitable purposes such as churchs,
hospitals and organizations like salvation army. Hope this helps... nice
idea but I don't think it would work.
Ken Johansen (C.P.A.)
59 Traveler
At 08:37 PM 4/11/01 EDT, you wrote:
>Hi list,
>
>I may be showing my ignorance as to what can and can't be done as far as
>taxes are concerned, but would it be possible to set up an area of the VAC
>that is non-profit (I consider all restorations of vintage "anything" to be
>definitely NON PROFIT) and offer a tax deduction to people who would fare
>better that way than an out and out sale of a trailer needing restoring.
At
>THAT point it could be restored and the VAC could then do something else
with
>it, at least that way we could know that it wouldn't be stuck out in the
>woods somewhere being used as a hunting camp (sorry hunters but I prefer
them
>on the roads).
>
>
>
>
>
>
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