Forum Moderators: wheatpenny Forum Coordinators: Anim8dtoon
Community Center F.A.Q (Last Updated: 2024 Nov 28 6:21 pm)
One thing I was thinking about...make sure if you send a donation you don't expect it to be credited towards a future program that may be implemented. Lots of people are really, really cheap and might donate now to be nice, but later might say "Hey, this new gallery thing is ten dollars and I sentyou guys ten last month...can you just apply it to that?" That is so lame. -Darth
Now that we have this; How about putting something either in the store or the frontpage that lets us pay online via credit card. It would make the process a lot easier.
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The donations will be have a recipt? I'm asking this because it could be a good idea to use those recipts to make some charitable deductions. Baaaddd Idea to get money in name of Dark Souls Inc. I've seen comming a big trouble, specially with the tax offices, how you will justify DSI incomes?. Just to help i'm puting a little definitions here. The taxable income is the amount applied to the rate of income tax payable. For Federal income tax purposes, it is defined differntly for corporations and individuals. The taxable income of a corporation is its gross income less its income tax decuctions. I.R.C 63(a). The taxable income of an individual is gross income, less the decutions allowed in computing the adjusted gross income. I.R.C. 62, less the excess of itemized deductions over the zero bracket amount. I.R.C. 63(b). My advise is to change the donations system to an individual name, not a company. I guess it could be a good Idea to listen a tax expert to help you with this problem. Regards Virus
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I don't think in the US this can be considered a donation to a charitable cause--because there is a lot of 'stuff' one must go through to be considered for this. For instance, even with Sierra Club, some donations are deductible and some not--it depends up whether they are used for lobbying for instance. I would think either way, this is going to be considered taxable in the US (for Dark Souls). However, if this is a 'business', then all your legitimate expenses are deductible--and these will probably override the income from this--but I'm not a tax expert--just one who deals with this with 2 small businesses year in and year out. DB
It cannot be a tax deductible item for the person in the US sending the donation--Dark Souls is not eligible for charitable donations--there is a fairly long process to go through for that. As to them paying taxes on it--I'm not sure how a 'gift' qualifies to a corporation. Maybe someone can determine that. In any case, I expect their expenses will way override the amounts they bring in in donations--and they will only pay taxes on profit-which the assumption is that they will NOT make--or there would be no reason for the donations to begin with.
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On the Front Page i have posted a PO Box for anyone wishing to send just a donation. yeah, yeah, i know, i shot this idea down before, wanting one that also gave to the community as well. and we have a number of great ideas that involve just that. and we are going forward on them. along with these ideas, as well as volunteers to aid in the trenches as it were, i've gotten some very wonderful friends telling jack and i to "shut up and just let us throw a buck or two your way" as well. :) love each and everyone of you who did this!! we have a write up with a PO Box address should you wish to donate. also, if you do not or can not, that is quite alright, and don't worry about having to explain the "whys" of it. we love and respect you regardless! :) since there is a bit of a risk in sending actual cash via the mail, we do suggest a money order or check to our company: Dark Soul Images Internet Media inc. the address is: PO Box 3197 Centerline, MI 48015 As i have stated in the Front Page write up... THANK YOU!! ONE AND ALL!! FOR EVERYTHING!!!! ed