General Discussion

jmowreader

(53,177 posts)

57. I wonder about that last sentence

Sun Apr 5, 2015, 09:21 PM

Apr 2015

Did the Glenn Beck employees just act completely independently of the pizza shop ones?

Did they call the pizza guy up and say something like, "we'd like to help you out in these trying times, would you mind if we set up a little fundraiser for you?"

Or did the pizza guy sit down with the Beck people and collaborate on this thing?

I figure come next April we'll be hearing all over the Liberal Media about how the evil Kenyan Muslim guy in the White House stole half the $800k generous Christians donated to a honest, hard-working small businessman to save him from the Gay Mafia. Because Benghazi, or something.

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Memories Pizza made +$800k? [View all] Playinghardball Apr 2015 OP

Nope, gifts are not taxable to the recipient. Nye Bevan Apr 2015 #1

Message auto-removed Name removed Apr 2015 #2

If somebody gave them money, they got it as a gift. LisaL Apr 2015 #5

In many cases 2naSalit Apr 2015 #34

Hopefully everyone knows Yupster Apr 2015 #36

There is no place 2naSalit Apr 2015 #37

The point is they do not have to pay taxes. former9thward Apr 2015 #38

Thank you Yupster Apr 2015 #41

The IRS will likely see it as income. Gofundme sends a 1099-k if someone has MillennialDem Apr 2015 #42

I have no doubt the IRS will be aggressive on this. former9thward Apr 2015 #46

They (IRS) will say it is for keeping their business open so it is income, not a gift. The reason MillennialDem Apr 2015 #47

By law income is defined as what you get by working. former9thward Apr 2015 #48

Saying controversial things is working. Otherwise you couldn't tax people who give speeches. MillennialDem Apr 2015 #49

Now you are way off. former9thward Apr 2015 #50

The IRS will view it as not a charitable act, but the gift givers having a vested interest in MillennialDem Apr 2015 #53

Cool dude. former9thward Apr 2015 #62

Not a dude and I don't work for the IRS. MillennialDem Apr 2015 #63

Given your comments I'm sure they would love you. former9thward Apr 2015 #64

a person need not "work for the IRS" or be on their side treestar Apr 2015 #71

You're reading an awful lot into the intentions of anonymous gift-givers on GoFundMe. Nye Bevan Apr 2015 #73

Really? I think they will back off because of political pressure itsrobert Apr 2015 #54

Then every go fund raiser would be taxable johnnysad Apr 2015 #11

No. The gift exemption is so that you aren't taxing a family at Christmas or someone who had MillennialDem Apr 2015 #43

You're such a downer. egduj Apr 2015 #3

Message auto-removed Name removed Apr 2015 #6

I'm looking to see what the official word from the IRS is. Initech Apr 2015 #14

It's taxable after the first $14,000. onehandle Apr 2015 #28

From the same page you linked to metalbot Apr 2015 #35

Its tax free. former9thward Apr 2015 #39

I doubt it MillennialDem Apr 2015 #44

well, hope you don't get audited snooper2 Apr 2015 #70

That's a whole lot of money johnnysad Apr 2015 #4

Not likely. NT NYC_SKP Apr 2015 #10

never know johnnysad Apr 2015 #15

They just don't strike me as thoughtful people who would care. NYC_SKP Apr 2015 #18

They "closed" the day after they went live with their script. yardwork Apr 2015 #66

Ok, how much can I take in clydefrand Apr 2015 #7

They can just change the name to Church of the Memories Pizza and keep it all. Contrary1 Apr 2015 #8

No taxes I assume, I think you can give up to $15,000 to someone tax free. So unless.... Logical Apr 2015 #9

Yep SickOfTheOnePct Apr 2015 #16

GoFundMe takes two cuts, but PROBABLY no taxes ... 66 dmhlt Apr 2015 #12

I didn't know anything about this fundraiser. noella17 Apr 2015 #13

Not really. A reporter went to a bunch of restaurants and yeoman6987 Apr 2015 #17

So the reporter was just trying to bait them? noella17 Apr 2015 #19

Well it did help change the law after the boycotts started yeoman6987 Apr 2015 #20

There is a law noella17 Apr 2015 #21

Well I don't know but I am at the movies yeoman6987 Apr 2015 #23

You, too. noella17 Apr 2015 #24

And I think you are wrong. bravenak Apr 2015 #25

We are discussing the $800K raised noella17 Apr 2015 #27

MLK did not do it alone and he was the epitome of confrontation. bravenak Apr 2015 #30

You run the risk of being bigoted against bigots though noella17 Apr 2015 #32

Lol! Intolarant against intolerance. bravenak Apr 2015 #33

What bothers me the most about this issue is the turn arounds on it by leading Democrats johnnysad Apr 2015 #26

If you really are a supporter of something noella17 Apr 2015 #29

She always took the easy way out saying let the states decide johnnysad Apr 2015 #31

Did a reporter go to a bunch of businesses? yardwork Apr 2015 #68

Nonsense. They put themselves out there. yardwork Apr 2015 #67

How much of that $400,000 goes to -- Nuclear Unicorn Apr 2015 #22

Most likley zero SickOfTheOnePct Apr 2015 #40

I doubt that MillennialDem Apr 2015 #45

A 1099k is *not* telling anyone to "report taxable income". Nye Bevan Apr 2015 #59

Why would they issue a 1099-k if the amount is over $20,000? I'm aware they don't report the income MillennialDem Apr 2015 #60

The IRS always likes to know about large sums of money changing hands, Nye Bevan Apr 2015 #61

Because $20,000 is the legal reporting amount trigger... PoliticAverse Apr 2015 #65

I looked up the tax treatment of fundraising activities on the IRS website jmowreader Apr 2015 #51

Giving to IRS authorized nonprofits allows you to deduct the contribution from your taxable income. PoliticAverse Apr 2015 #52

The problem here is, this isn't a "random person" but a business jmowreader Apr 2015 #55

Well you highlight the problem of what is and isn't a gift. If the giver gets anything in return PoliticAverse Apr 2015 #56

I wonder about that last sentence jmowreader Apr 2015 #57

Yes, I'm curious how this ends up in the end tax-wise. n/t PoliticAverse Apr 2015 #58

Did they set that page up or did some teabagging supporter do it? Lee-Lee Apr 2015 #69

Who Knew itcfish Apr 2015 #72