Are memberships tax-deductible?
Basic membership levels are not considered tax-deductible for federal income tax purposes. Memberships at the Premium and Supporting Family levels, as well as Donor Society levels, are considered partially tax-deductible. The amount of membership dues that is deductible is the amount paid minus the fair market value of benefits you are entitled to receive. Fair market values are provided below:
- Premium Family - estimated fair market value = $145
- Supporting Family - estimated fair market value = $161
Please note that prices and fair market values are subject to change. COSI recommends you consult a tax advisor with further tax-related questions.