Comments on: Kiva Review: Micro Lending With A Global Reach

By: The Smarter Wallet

The Smarter Wallet — Wed, 14 Oct 2009 03:53:41 +0000

Thanks for the discussion on tax deductibility when making loans vs donations. It’s definitely something that needs clarification when people get involved with dealing with non-profits.

By: Michael Bonanno

Michael Bonanno — Wed, 14 Oct 2009 03:34:42 +0000

Actually I have to correct Kieran. Because Kiva is considered a Non-Profit and you are making a loan..it is not tax deductible. Only when you are making a donation is the money deductible.

Hope this helps clarify the tax comments.

Best of luck!

Michael Bonanno

By: Kieran

Kieran — Tue, 27 Jan 2009 14:36:24 +0000

Another reason why Kiva might be beneficial to the lender is that the investment is tax deductible as it is considered a donation.

I do lend at Kiva for altruistic reasons. It’s the feel good helping hand action. For return on investment, I prefer Lending Club over the other p2p lending sites.