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Don't know if anyone knows, but is Gawker allowed to use the donations as a tax write off? Always been curious about that.
by soperj 13y ago
Don't know if anyone knows, but is Gawker allowed to use the donations as a tax write off? Always been curious about that.
- hluska 13y agoForbes had an interesting article about some of the tax implications of crowdfunding - http://www.forbes.com/sites/suwcharmananderson/2012/05/23/kickstarters-sting-in-the-tail-tax/ http://www.forbes.com/sites/suwcharmananderson/2012/05/23/ki... As far as using the donations as a tax write off, I don't think I understand your question. Are you asking if Gawker could take the money they received from crowdfunding, turn around and donate it to a registered charity and then claim a deduction??
- soperj 13y agoThe plan is to donate the money if they can't buy the video(and it looks likely they won't be able to buy the video) so yes that's what I was asking.
- Ensorceled 13y agoOnly if they took the money as income and, possibly, paid taxes on it. I presume they would be very careful to never take custody of the money, even in trust.