Personal gifts of up to $14, 000.00 to Bob Worthen, personally are tax deductible. However, Contributions are not deductible for federal income tax purposes. Under federal law, individuals may contribute a maximum of $2800 for the primary election, $2,800 for the primary run-off election, and $2,800 for the general election. Couples may make contributions from a joint account, but each contributor must sign the check (or other written instrument) or a statement that accompanies the contribution. Qualified federal PACs may contribute a maximum of $5,000 for the primary election and $5,000 for the general election. Non-qualified federal PACs may contribute a maximum of $2,800 for the primary election and $2,800 for the general election. Contributions from federal government contractors and corporations are prohibited. Federal law requires us to use our best efforts to collect and report the name, mailing address, occupation and name of employer for each individual whose contributions aggregate in excess of $200 in an election cycle.
Note: Please contact your CPA, IRS, or accountant for specific legal and tax ramifications.