Not-for Profit and Living History

[J Melvin]

Brian, can you educate me (and maybe some others) on the idea of being a not-for-profit group and therefore the tax deductibility of items used in living history/museum displays. I am assuming that you buy items for your personal collection. Do you then turn them around and "donate" them to a NPC for purposes of the tax deductibility?

[Brian M]

Jack, I learned about this from some SS panzer guys at an event last fall. as long as you do at least one Living History (public event) per year, everything in your kit that you use at such events, and your mileage, expenses, etc. are tax deductible. (everything except weapons) I filed accordingly last year and deducted over $3800 of uniform, gear and expenses used at 6 public events.

[Sebastian Bianchi]

Jack, if you bagger me when I get my office in orderv(you should see it in other forums, community problably), I will send you the name of the company that incorporated the sites (wehrmacht-awards.com and wehrmacht-association.com). It was $300.00 each, and for an extra fee you can make it tax deductable. You can probably file yourself, but they took care of everything from A to Z and you know it's done right. You even get a stamp, minutes, everything in the kit. Well worth the money! Then with that you can open a bank account under the name of your corporation, etc. You also get piece of mind that if you get sued "you" don't get sued, plus many other perks. The drawback? You have to file taxes for it every year.

[J Melvin]

That's interesting, Brian. I've heard of units/individuals doing it, but could never get anything about it from anyone. Seemed to be a old legend.

Seba, if I used a firm to set up my corporation, I'd be ashamed. I'm a corporate attorney.

[Sebastian Bianchi]

I'm a corporate attorney.

Then you should know all of this!!

Are you testing us?

I did it right.... I swear...

[Adrian Stevenson]

Hi Guys, I wish you could do this in the UK
Cheers, Ade (Over taxed and under paid)