Northcrest Community

Are there tax advantages associated with entrance fees?

Yes, the portion that is designated as a contribution to the Northcrest Charitable Assistance Fund is totally tax-deductible as a gift to a not-for-profit corporation.  

The IRS considers the portion designated Health Center Support as a prepaid medical expense and may be deductible to the extent that it exceeds 7.5% of the taxpayer's adjusted gross income.  We recommend consulting your tax advisor for more details.

« Back

© 2024 Northcrest Community. All rights reserved.