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Eastern Bands Parent Association
Contact Us

The Power Of Deduction: Taxes

2/21/2017

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Watson going on with your taxes? Well, Sherlock. It's the power of deduction.
I have recently emailed everyone their 2016 contribution statements for tax purposes. This is not your current outstanding band/guard dues, though there may be a total at the bottom of the summary.
Quickbooks is not very user friendly with how we recognize donations and summarizing those donations into a nice neat package that can be emailed. Therefore, I'm going with this make-shift solution that will provide the transaction details that you can use to get the necessary data for tax purposes.
On your summary, each entry under the 'Transaction' heading labeled 'PMT' is a donation contribution for marching band, jazz band, or winterguard dues. These transaction may be tax deductible. In addition, any labeled 'CREDMEM' with the additional line 'PayPal fee waiver' may also be deductible, as these were fees charged by PayPal as part of your contribution.
If you have any questions on interpreting your statement, please contact me. If you have a tax question, please consult your tax professional.
Allen Baum, Treasurer
Treasurer@easternbands.org
EHS Band Parents' Association
PO Box 43298
Louisville, KY 40253

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