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Is my pledge tax deductible?

If the creator is a legally recognized not-for-profit company and you receive nothing of value in return for your payment to them, then some jurisdictions allow the patron to take a tax deduction.

As a creator, if you provide patrons with something in return for their payment (T-shirt, download of music not available to non-patrons, concert tickets, backstage passes, etc) then the patron’s tax deduction is limited to the amount of their payment which exceeds the value they received. For example, if the patron pays $100 of which $20 is the deemed value of a backstage concert pass, then only the $80 is considered to be tax deductible.

 

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