How to Donate to a Political Campaign
If you are considering donating to a political campaign, you should be familiar with the campaign finance process in the United States. There are two types of funding sources: private and public financing. Decide which type of donor you would like to be before you donate to the candidate or issue you want to endorse.
Instructions
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Donate as a Private Entity
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Donate as a corporation, sole proprietor or individual to a specific campaign. You can achieve this by logging onto a website, by calling a toll free number and donating by credit card, or by sending in a check to the campaign headquarters.
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Be prepared for your donation to be made public when quarterly fundraising budgets are reviewed. All candidates or special-interest groups must be monitored quarterly for the sources of their funding and the amounts to avoid political corruption and bribery.
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Know that political campaign contributions are not eligible for a tax deduction. You can however, donate to a non-profit organization that distributes money to various organizations, including political ones, and realize a tax-deductible benefit.
Contribute to the Public Financing Fund
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Contribute to the public source of funding which is made up of public donations and your tax dollars. There are a variety of ways that you can donate to a political campaign through the umbrella of a public financing source. All contributions made to a public source are a tax write-off for the individual or for a business.
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Check the box on your tax return that allows the government to contribute $1 from you and $1 from your spouse if applicable. This is another way you can contribute to the public source of financing.
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Donate to campaign funding programs that match private donations up to a certain amount. There are many public programs that do this in order to instill a balance of funding sources in any particular campaign.
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Tips & Warnings
It is recommended that you be registered to vote when you make a donation. You must fill out a voter registration application no later than two weeks before Election Day.
Avoid the urge to expect something in return when you donate to a particular candidate or issue. This is illegal and can be punishable by fines and prison.
Observe donation limits as dictated by campaign regulations.
Comments
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monomdeplume
Nov 21, 2009
very interesting! I am interested in donating money to non profits that funnel their money to PAC's that interest me and receiving a tax deduction at the same time. This provided me with some very useful information.