A Few Things to Know About Political Donations
CNN Money lists a few things to know about political donations.
- You are limited as to how much money you can directly give during a primary and again in a general election.
- Your info will go public. Sites like OpenSecrets .org and FundRace.org display the information in searchable databases.
- There’s no federal tax deduction for contributions.
These rules apply to presidential campaigns. Local laws differ in the amount one is allowed to contribute and how much information is required from the contributor.
Make sure your campaign staff is informed of the applicable rules of fundraising. Even on a local level, contributors must be disclosed. You don’t want to have to return an overly-large contribution, and you don’t want anyone getting the idea that their political contribution is tax-deductible.
If you take political donations online, you’ll want to post the rules clearly and be sure to get the required contributor’s information.
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Tags: local politics, political donations, political fundraising
