Tax Deductions

Technology For Success, Inc. is recognized by the IRS as a 501(c)3 organization. As such your contribution is deductible to the extent allowed by law. Please consult your professional tax advisor as to the deductibility of any contribution made.

Remember that even if the tax deduction is not great, you have helped the students of today become the educated professionals of tomorrow and given our community a technology edge to compete for the jobs of the future.

Computer or Equipment Donations:
For individuals, computer donations are deductible as a charitable contribution on Schedule A of 1040. The donation should be valued at fair market value. TFS will provide a receipt for the donation with our best estimate of fair market value. Obviously, you will have to itemize deductions to get the tax benefit of any contributions.

For businesses or other organizations, please consult with your professional tax advisor. There are specific provisions in the IRS regulations governing donation of computer equipment for education purposes. In our opinion, TFS does qualify as an organization that exists to provide technology for education purposes.

Cash Donations:
For individuals, cash donations are deductible as a charitable contribution on Schedule A of 1040. Your check is your receipt. Obviously, you will have to itemize deductions to get the tax benefit of any contributions.

For businesses or other organizations, please consult with your professional tax advisor. The deductibility and reporting of any cash donation will depend on the legal structure of your organization.