Showing posts with label quot;Donationsquot;. Show all posts
Showing posts with label quot;Donationsquot;. Show all posts

Does One Have To Have a Valid Business License to Accept quot;Donationsquot;

and do received Donations have to be reported for taxes?
      Answer1:If someone just randomly wants to give you money, they can. That would be considered a gift to you, and you dont have to report it.If theyre actually giving you a payment in return for some sort of goods or services, though, then that is INCOME, and yes, you have to report every penny of it. The only way money given is considered a "donation" is if its being given to a registered non-profit charity. I doubt thats the case here.


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