Farm Island
You are so right, WinnisquamZ , that is why so many of the private, independent camps are no longer operating. The tax bite got so large that private camps were forced to either significantly raise their summer tuition rates and run the risk of pricing themselves out of business, or, re-organize themselves within the protection of an existing non-profit organization and enjoy the financial relief afforded therewith. If the government 'tinkers' with the tax Code and makes changes to the non-profit qualifications or the amount an individual may deduct with respect to non-profits, then these camps will disappear, also.
|