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 Replies: 762 / Views: 63,776 |
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Pillar of the Community
United States
2764 Posts |
Thank you guys for sharing.
I have my alarm set on my phone.
I'll be getting some sets.
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Pillar of the Community
United States
1512 Posts |
Quote:
I honestly couldn't care about the Dimes; I want the Dollar and the set is a nice package for it. Ever the contrarian, nice!  |
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Pillar of the Community
United States
1661 Posts |
I want the dimes for my Rosie set, so I'll have to find a home for the dollar and OGP. I remember the March of Dimes very well from my school days, filling cards with dimes one at a time, doing chores etc.
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Moderator
 United States
189340 Posts |
I want the dimes for my set as well, but I will leave them in the OGP since my dimes have been in unlabeled pages since the turn of the century. That is, no holes that must be filled; not that Dansco will ever label them anyway. |
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Bedrock of the Community
United States
17884 Posts |
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Since it's a "donation" and the March of Dimes is a 501(c)(3) tax-exempt nonprofit organization, my thought is that the $10 is tax deductible if you itemize (assuming one makes enough for it to matter or doesn't make too much so that the deductions are limited). I'm buying five sets, so that will be a $50 donation to the March of Dimes. SORRY, but the surcharges are NOT tax deductable. |
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Pillar of the Community
United States
1913 Posts |
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SORRY, but the surcharges are NOT tax deductable. Do you have a link to some sort of IRS guidance on the issue? |
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Pillar of the Community
United States
4901 Posts |
The only thing I could find is from a Congressional subcommittee way back in 1995: Quote:
The commemorative programs mandated by Congress have be-
come raids on the purses of those collectors who purchase the coins.
They thereby support the various nonprofit beneficiary organiza-
tions even though they are denied tax deductions that a direct do-
nation would earn. Full text: http://www.archive.org/stream/usmin...nit_djvu.txt |
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Moderator
United States
189340 Posts |
I do not see how it could be tax deductible for us. We are buying coins from the mint; the mint (or treasury) is making the donation, not us. It would be like trying to claim a percentage of what you spend at Target because they donate a percentage of their income to the charity. Besides, if you are donating to charity just for the deduction, then you are doing it for the wrong reason.  |
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Pillar of the Community
United States
4901 Posts |
I think the difference is that the Mint states up front that an ADDITIONAL $10 will be added to the price of the coin and will be given to charity. Target (or any other similar company) does not increase the price of their products just to benefit charity.
When I donate directly to a charity I do not do it BECAUSE of the tax deduction but I will take the deduction if it is allowed. That is the way the tax code is written.
I never thought of the tax deduction when I purchase commems but I guess it makes sense on some level
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Pillar of the Community
United States
1913 Posts |
Quote:
I do not see how it could be tax deductible for us. We are buying coins from the mint; the mint (or treasury) is making the donation, not us. It would be like trying to claim a percentage of what you spend at Target because they donate a percentage of their income to the charity. Sometimes when donating to a charity, they give you a motivational gift in return. The donation minus what you receive in return is tax deductible. For example, I donated to a local children's charity and received lunch, a picture & baseball autograph of a MLB player in return. They told me how much the lunch, picture & baseball autograph were worth and I subtracted their values from my donation amount when determining my deduction. This situation is very similar. The difference is that instead of giving to the charity and receiving the motivational gift in return, we're buying something and a charitable donation is being made in return. Since the mint isn't deducting it from its taxes, I think we should be able to. But, if it's not allowed, then it's not allowed. :( Quote:
Besides, if you are donating to charity just for the deduction, then you are doing it for the wrong reason. I donate to several causes that are not tax deductible at all. However, when I do donate to a tax deductible charity, the fact that the donation is tax deductible impacts how much I'm able to give. Also, given that I'm forced to pay over 40% of what I make in income taxes, I do pretty much everything that's smart to do in order to reduce the amount of income taxes that I have to pay. |
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Pillar of the Community
United States
592 Posts |
Reminder set and order to be placed.
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Pillar of the Community
United States
5211 Posts |
2 1/2 hours to go  |
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Valued Member
United States
99 Posts |
1 1/2
12noon eastern
Edited by iamwayne
05/04/2015 10:38 am
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Bedrock of the Community
United States
11951 Posts |
It starts at noon eastern time ....right?
I am thinking 1 hour 23 minutes
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Bedrock of the Community
United States
11951 Posts |
I am still trying to decide if I should get two sets, or just one.
If I knew for sure this would sell out fast and go up,
getting two would be a good idea ...just to sell one.
I have a feeling this won't be the same as silver eagle special sets.
More like last years Native American set.
Both good sets ... But Eagles seem to sell out fast.
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Replies: 762 / Views: 63,776 |
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Posted 05/01/2015 5:45 pm
