It’s election season. And for the first time in my adult life, I’m receiving emails from friends asking me to contribute to various political races outside of my own state – from the McCaskill/Akin senatorial race in Missouri to the race to replace Sen. Olympia Snowe (R) in Maine. One such email (from a friend, not the actual campaign) even touted, “And it’s deductible!”
Only it’s not.
So consider this your friendly reminder about donating money this election season:
You cannot deduct contributions made to a political candidate, a campaign committee, or a newsletter fund.
And no, you can’t just skirt around the rules by disguising it as a promotion for business or other purposes:
Advertisements in convention bulletins and admissions to dinners or programs that benefit a political party or political candidate are not deductible.
Both of those quotes are straight from the horse’s, er, IRS’ mouth.
If you regularly contribute to or volunteer with a 501(c)(3) organization – a qualified charity – remember that there are rules for those groups, too. A charitable organization may not:
- endorse candidates;
- distribute statements for or against candidates;
- raise funds for or donate to candidates; or
become involved in any activity that would be either in support of or opposed to any candidate.
That includes leafleting at schools and churches as well as delivering sermons, speeches, and instructions about who deserves your vote. Don’t try to be cute. The IRS is pretty serious about this kind of thing. If your organization breaks those rules, it puts their tax-exempt status – and thus, donation streams and funding – in jeopardy.
I expect lots of last-minute pleading, wheedling, cajoling and outright begging for campaign contributions over the next couple of months. And you are completely within your rights to donate to whoever you please and for whatever reason you decide. Just keep in mind that your donation to or for the benefit of a political campaign isn’t tax-deductible. Be smart. Give wisely. And share facts, not hunches.
