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Donations & taxes


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#1 pirateXcore

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Posted 09 April 2008 - 02:59 AM

If my website is on the receiving end of donations, are there taxes that need to be paid out?
I'm unsure how donations work. The donations will be used to help pay for the website/contests/events...etc

#2 Panzer

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Posted 24 April 2008 - 02:43 AM

A little late reply, but if your still here:

Im pretty sure taxes apply to donations $500 or $1000 and over, or someone who earns over $15,000 a year through the particular means (in your case donations).

I wouldn't worry about it.

#3 pirateXcore

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Posted 17 June 2008 - 09:58 PM

I'll always be here.
Thanks for the reply :)

#4 DNAYx1

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Posted 19 December 2008 - 06:24 PM

dont you only have to pay taxes if you sell anything in particular? as in having a little business?
having a free organization is free, or is it only free up to the point when u make $$$$$ tons

#5 ewebber

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Posted 11 April 2009 - 05:19 PM

I think it's better if you check with an accountant, tax laws are different in every country. I'm not an expert, nor an accountant, but in Canada I believe you don't have to pay tax on donation cause it's not consider to be an income.

#6 Faken

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Posted 26 January 2010 - 03:35 PM

If my website is on the receiving end of donations, are there taxes that need to be paid out?
I'm unsure how donations work. The donations will be used to help pay for the website/contests/events...etc


No question, that is income you must declare. Then you declare your expenses as well to balance it out...

Dan




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