FundSvcs Community

I have a difficult time searching the irs.gov site for the annual update to the quid pro quo threshold for substantial benefits, especially for token items. Does anyone have that information readily available or can post the link to the information for the fall 2022 update?

Thank you - Vicki Britten

I sent this information to the list in November - you can always find it there! My note is copied below, and the IRS document is reattached:

Please see pages 14 and 20 of the attached.

The standard deduction for 2024 will be:

The insubstantial benefit limits for 2024 are:

• $13.20 for low-cost/token benefits
• $66 minimum gift to receive a low-cost item
• The maximum benefit that can be provided without reducing the gift is $132 or 2% of the amount given, whichever is less

John H. Taylor

Principal

John H. Taylor Consulting, LLC

2604 Sevier St.

Durham, NC   27705

johntaylorconsulting@gmail.com

919.816.5903 (cell/text)

 

Serving the Advancement Community Since 1987

I have a difficult time searching the irs.gov site for the annual update to the quid pro quo threshold for substantial benefits, especially for token items. Does anyone have that information readily available or can post the link to the information for the fall 2022 update?

Thank you - Vicki Britten

Thank you John, I obviously need to practice searching AASP archives also! :-)

I sent this information to the list in November - you can always find it there! My note is copied below, and the IRS document is reattached:

Please see pages 14 and 20 of the attached.

The standard deduction for 2024 will be:

The insubstantial benefit limits for 2024 are:

• $13.20 for low-cost/token benefits
• $66 minimum gift to receive a low-cost item
• The maximum benefit that can be provided without reducing the gift is $132 or 2% of the amount given, whichever is less

John H. Taylor

Principal

John H. Taylor Consulting, LLC

2604 Sevier St.

Durham, NC   27705

johntaylorconsulting@gmail.com

919.816.5903 (cell/text)

 

Serving the Advancement Community Since 1987

I have a difficult time searching the irs.gov site for the annual update to the quid pro quo threshold for substantial benefits, especially for token items. Does anyone have that information readily available or can post the link to the information for the fall 2022 update?

Thank you - Vicki Britten

Thank you John, I obviously need to practice searching AASP archives also! :-)

I sent this information to the list in November - you can always find it there! My note is copied below, and the IRS document is reattached:

Please see pages 14 and 20 of the attached.

The standard deduction for 2024 will be:

The insubstantial benefit limits for 2024 are:

• $13.20 for low-cost/token benefits
• $66 minimum gift to receive a low-cost item
• The maximum benefit that can be provided without reducing the gift is $132 or 2% of the amount given, whichever is less

John H. Taylor

Principal

John H. Taylor Consulting, LLC

2604 Sevier St.

Durham, NC   27705

johntaylorconsulting@gmail.com

919.816.5903 (cell/text)

 

Serving the Advancement Community Since 1987

I have a difficult time searching the irs.gov site for the annual update to the quid pro quo threshold for substantial benefits, especially for token items. Does anyone have that information readily available or can post the link to the information for the fall 2022 update?

Thank you - Vicki Britten

I got a lot from the webinar yesterday. One question I didn't get to ask: Do these rules apply to gifts to a 501(c)4 organization, where gifts are not tax deductible? 

Thank you John, I obviously need to practice searching AASP archives also! :-)

I sent this information to the list in November - you can always find it there! My note is copied below, and the IRS document is reattached:

Please see pages 14 and 20 of the attached.

The standard deduction for 2024 will be:

The insubstantial benefit limits for 2024 are:

• $13.20 for low-cost/token benefits
• $66 minimum gift to receive a low-cost item
• The maximum benefit that can be provided without reducing the gift is $132 or 2% of the amount given, whichever is less

John H. Taylor

Principal

John H. Taylor Consulting, LLC

2604 Sevier St.

Durham, NC   27705

johntaylorconsulting@gmail.com

919.816.5903 (cell/text)

 

Serving the Advancement Community Since 1987

I have a difficult time searching the irs.gov site for the annual update to the quid pro quo threshold for substantial benefits, especially for token items. Does anyone have that information readily available or can post the link to the information for the fall 2022 update?

Thank you - Vicki Britten