Is it legal to ask for charitable donations for a for-profit business?
- PatLv 72 weeks ago
What is WRONG with you?
- InLv 62 months ago
It is unethical, but not necessarily illegal. Any donations would be fully taxable. Make sure donors know or you can be charged with fraud.
- JudyLv 72 months ago
No, a donation to a for profit business is not tax deductible
- Casey YLv 72 months ago
If you aren't a qualified charity, any transfer of funds to you would not be charitable...either a payment for service or a gift...but not charity.
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- MaxiLv 72 months ago
If it is a registered charity you can... otherwise pretending it is a charity is illegal
- linkus86Lv 72 months ago
Sure, just as long as the business doesn't commit fraud by claiming to be a non-profit/charity.
- martyLv 72 months ago
While it is the case that a for-profit business can accept donations, it has to be careful not to run afoul of a state's laws against soliciting the public for donations without registering with the state attorney general. If a for-profit business is asking for "donations," it has to at least make it clear that the business is not a nonprofit.
- EvaLv 72 months ago
You have to make it very clear that it's not a tax-deductible donation. It is legal, but could reflect very poorly on your business.
- JanetLv 72 months ago
No it is not. A "for-profit" organization is a business, not a charity.