Saturday, July 10, 2010

Seminal issues in public finance

It turns out that if you set up a foundation whose mission is to distribute your own sperm to eager female recipients, the IRS will not grant your foundation tax exempt status.

A colleague adds that "the courts have ruled that one has no basis in one's, um, bodily fluids (comes up mostly in blood donor cases), so THAT component of any donation to a nonprofit sperm bank is extremely unlikely to qualify for a deduction under any circumstances."

Good to know.

Hat tip: Adam Cole

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