Tax Deductibility

There are 3 types of payments you can make on B1G1: for your Membership Fee, for your Contributions, and for your Impact Tokens. This article outlines the tax deductibility of each payment type.

Membership Fee

Your membership fee is not a donation, so it would not be a charitable tax deduction. It may be accrued as a business expense, but it would be best to check with your accounting team to be sure.

Contributions

Your contributions may be tax deductible depending on the country you pay taxes in, and the country where the Worthy Cause you have contributed to is registered.

How you classify your contributions differs based on each company’s accounting policy as well as the tax regulations of your resident country (and we recommend that you clarify this with your own accountants). If you decide to apply for tax benefits for your contributions as charitable donations and want to donate only to the projects that have the relevant tax status in your own country, you can use the project filter to find the applicable projects.

If you are a United States taxpayer,

All contributions on B1G1 are tax deductible as B1G1 Giving, Inc. is a 501(c)(3).

For all other countries, 

Taxes and tax benefits vary depending on the organization you are supporting and your country of business operation. How you classify you contributions differs based on each company’s accounting policy as well as the tax regulations of your resident country (and we recommend that you clarify this with your own accountants). If you decide to apply for tax benefits for your contributions as charitable donations and want to donate only to the projects that have the relevant tax status in your own country, you can use the project filter to find the applicable projects.

Impact Tokens

Impact Tokens purchase is regarded as a donation to B1G1 Giving - which is a US charity - and the allocation of the Impact Token to specific B1G1 projects at later dates will not appear on the Tax Claim Statement.

Generate a Tax Claim Statement

1. Log in to your B1G1 account

2. Head to the Billing page

3. Click the 'Impact' tab and scroll down to Generate Tax Claim Statement