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Originally Posted by daraknor
I have no idea what canadian tax law looks like. I know we can generate receipts for direct donations, I don't know if we can generate receipts for IB fees. Asking a Canadian Tax Attorney is highly recommended for qualifying donations as writeoffs in Canada. We provide an email receipt with TaxID #, address, qualifying date, receipt date, the clauses under which we are allowed to receive tax deductible gifts, a list of the applicable IRS Tax Codes, parent company information, etc. A paper receipt can also be created, and I will have the Dun & Bradstreet number for the foundation available later today.
I am very interested to know which countries share Tax Deduction status with the US, if any. I am hoping we don't need to set up nonprofits in all of the major high-tax countries in the world. It probably wouldn't be worth it for most countries, because of the fees and expertise required. Also, the larger and more complex this gets, the more hassle and alarms go off related to money laundering. We have a mountain of paperwork to fill out as soon as the first international transfer for more than $10,000 comes in. PhoenixFund needs to stay transparent and legimate.
Short version: if Canada allows it great, if not there isn't much we can do immediately. In either case we give all of the necessary information.
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In Canada, it is generally not possible to claim tax deduction for American donations. I presume that it will be similar in most countries.
There are some other ways to do it. It is possible to go true a Canadian organization so the organization donates to the Pheonix Fund. A part of the donation could stay in the Canadian organization or Pheonix Fund could donate back a part of the profit generated by the donation creating a residual contribution to this organization. A WIN WIN situation where a contribution would help both organizations. If someone know a well connected person in an already establish international organization, it could be interesting to partner up with this organization as a pre approved donating way. It would also be an economical way to propulse Phoenix to the international scene and respect Hendrick's will not to mansion the free publicity and synergistic effect ! Hendrick (the original designer) requested that profits from Phoenix be used to change the world.
For Canadians paying taxes to the U.S.A. for revenus generated in the U.S.A., no problem, you can claim the deduction as any American citizen.
In any case, everyone should ask a professional before claiming a deduction.