Page 2 of 15 FirstFirst 1 2 3 4 12 ... LastLast
Results 26 to 50 of 362

Thread: The Good, The Bad, The GoFundMe, YouCaring & other mass funding sites

  1. #26
    Senior Member
    Join Date
    Nov 2012
    Location
    Texas
    Posts
    849
    Rep Power
    10341612
    Maybe I will start one for braces and gastric bypass...maybe I will get a buck

  2. #27
    Senior Member puzzld's Avatar
    Join Date
    Aug 2007
    Posts
    18,586
    Rep Power
    21474867
    Quote Originally Posted by raisedbywolves View Post
    They are totally required to claim it as income. Do most people do it? Probably not. However I am going to bet that the IRS is mining these sites since they are a great compilation of income that people probably exclude from income and it is all easily traceable.

    Yep, bonuses, contest winnings, money from Ebay selling, etc....techinically it's all taxable income in the IRS' eyes.
    But not gifts. And as I understand it, most gofundme type transactions are considered gifts by the IRS. (I'm sure they'll rethink that if this sort of thing continues.)


    Eight Tips to Determine if Your Gift is Taxable

    IRS Tax Tip 2012-62, March 30, 2012

    If you gave money or property to someone as a gift, you may owe federal gift tax. Many gifts are not subject to the gift tax, but the IRS offers the following eight tips about gifts and the gift tax.

    Most gifts are not subject to the gift tax. For example, there is usually no tax if you make a gift to your spouse or to a charity. If you make a gift to someone else, the gift tax usually does not apply until the value of the gifts you give that person exceeds the annual exclusion for the year. For 2011 and 2012, the annual exclusion is $13,000.
    Gift tax returns do not need to be filed unless you give someone, other than your spouse, money or property worth more than the annual exclusion for that year.
    Generally, the person who receives your gift will not have to pay any federal gift tax because of it. Also, that person will not have to pay income tax on the value of the gift received.
    Making a gift does not ordinarily affect your federal income tax. You cannot deduct the value of gifts you make (other than deductible charitable contributions).
    The general rule is that any gift is a taxable gift. However, there are many exceptions to this rule. The following gifts are not taxable gifts:
    ? Gifts that are do not exceed the annual exclusion for the calendar year,
    ? Tuition or medical expenses you pay directly to a medical or educational institution for someone,
    ? Gifts to your spouse,
    ? Gifts to a political organization for its use, and
    ? Gifts to charities.
    You and your spouse can make a gift up to $26,000 to a third party without making a taxable gift. The gift can be considered as made one-half by you and one-half by your spouse. If you split a gift you made, you must file a gift tax return to show that you and your spouse agree to use gift splitting. You must file a Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, even if half of the split gift is less than the annual exclusion
    You must file a gift tax return on Form 709, if any of the following apply:
    ? You gave gifts to at least one person (other than your spouse) that are more than the annual exclusion for the year.
    ? You and your spouse are splitting a gift.
    ? You gave someone (other than your spouse) a gift of a future interest that he
    or she cannot actually possess, enjoy, or receive income from until some time in the future.
    ? You gave your spouse an interest in property that will terminate due to a future event.
    You do not have to file a gift tax return to report gifts to political organizations and gifts made by paying someone?s tuition or medical expenses.
    Quote Originally Posted by bowieluva View Post
    lol at Nestle being some vicious smiter, she's the nicest person on this site besides probably puzzld. Or at least the last person to resort to smiting.
    Quote Originally Posted by nestlequikie View Post
    Why on earth would I smite you when I can ban you?

  3. #28
    Senior Member Boston Babe 73's Avatar
    Join Date
    Jun 2013
    Location
    Under your bed
    Posts
    16,918
    Rep Power
    21474859
    There's a cap on the amount you're allowed to receive as "gifts" though. I'll have to look it up, but I think it's 5,000 or something.
    Quote Originally Posted by Miller22 View Post
    I thought the exact same thing. Poor Brennen Tammons.
    Oh well, back to gum.
    ....or exchanging Puke's wang for spicy nuts.
    Quote Originally Posted by animosity View Post
    I know, right? What the fuck, puke? Willing to take in Boston, an Irish dude and like, 17 dogs but not Ron? poor Ron.

  4. #29
    Senior Member puzzld's Avatar
    Join Date
    Aug 2007
    Posts
    18,586
    Rep Power
    21474867
    I have no problems with the sort of situation Bowie is talking about. You have a need or a want that your friends and family want to fund? Awesome.

    Young friends of mine (35ish) were getting married. They have all the small stuff they could possibly need to set up house keeping, but needed some big items. A range, fridge, and the house they were buying needed repairs. They didn't want or need people buying linens and pots and pans and most of their friends were happy to kick in $ towards the roof. As Bowie says, it wasn't intended to be public.

    I have no problem with issuing a public appeal when there are major and unforeseeable expenses. Flood took the house and insurance doesn't cover such. Both parents killed in an accident leaving kids destitute. I've donated to friends and fof's dealing with financial crises, and there was a high school student I know who had raised $2500 of the $3000 he needed for a car (needed, not wanted, he lived 20 miles from school and needed wheels to keep attending) I tossed a few bucks his way. (I know his neighbor and believe the story)

    But call me cheap. I'm not sending bucks to someone who gets stiffed on a tip, or who can't pay for his nose job.
    Quote Originally Posted by bowieluva View Post
    lol at Nestle being some vicious smiter, she's the nicest person on this site besides probably puzzld. Or at least the last person to resort to smiting.
    Quote Originally Posted by nestlequikie View Post
    Why on earth would I smite you when I can ban you?

  5. #30
    Senior Member Boston Babe 73's Avatar
    Join Date
    Jun 2013
    Location
    Under your bed
    Posts
    16,918
    Rep Power
    21474859
    As of 2013 they raised it to 14K. So you can receive 14K per year and not have to pay taxes. Anything after that is taxable. So these folks raising 100K etc owe taxes on it.
    Quote Originally Posted by Miller22 View Post
    I thought the exact same thing. Poor Brennen Tammons.
    Oh well, back to gum.
    ....or exchanging Puke's wang for spicy nuts.
    Quote Originally Posted by animosity View Post
    I know, right? What the fuck, puke? Willing to take in Boston, an Irish dude and like, 17 dogs but not Ron? poor Ron.

  6. #31
    So very tired raisedbywolves's Avatar
    Join Date
    Jan 2013
    Posts
    12,452
    Rep Power
    21474855
    Quote Originally Posted by puzzld View Post
    But not gifts. And as I understand it, most gofundme type transactions are considered gifts by the IRS. (I'm sure they'll rethink that if this sort of thing continues.)
    I would question whether this kind of stuff would truly be a gift, hence why I think the IRS could tax it. With them soliciting the way they are I was questioning that. Maybe it truly would be a straight out gift. Definitely not deductible on the giver's side as charitable though.

    As for gifting in general, there are a ton of different rules that make up what contributes to the limit (like you can pay your relative's tuition straight to the school and it doesn't count towards the limit, but if you give it to them to pay the tuition it is a gift...same for hospital bills) and some of it is really crazy in my opinion.

    Back to Shin's first comment...I think the whole reason the IRS put that a deductible donation has to go to a registered charitable organization, instead of you just trying to help someone that needs help on your own, is because someone at some time tried to donate to themselves and claim it. You know some bright spark tried it at one time.

  7. #32
    So very tired raisedbywolves's Avatar
    Join Date
    Jan 2013
    Posts
    12,452
    Rep Power
    21474855
    The rule on limiting the gift giving amounts is so that wealthy families don't try to gift so much money that they avoid the estate tax. It really never comes into play for people like you and me. There is the yearly amount (and spousal amount you can claim) and a lifetime amount just for that reason.

  8. #33
    Senior Member PeaceBeWithMe's Avatar
    Join Date
    Nov 2014
    Location
    Displaced Canadian.
    Posts
    7,739
    Rep Power
    21474849
    I don't mind them. To each their own. Seems most folks use it to reach out to friends and family, which is cool.

    I look at them a lot. Some are really fucking questionable.

    And I donated $7 to Jarrid the pizza guy, cuz fuck you car salesmen with attitudes.


    Quote Originally Posted by marshmallow View Post
    did you make her into a wallet Bill? cuz if you did I'm off team Bill.

  9. #34
    fun hater Shins's Avatar
    Join Date
    Nov 2012
    Location
    Detroit
    Posts
    13,591
    Rep Power
    21474857
    Quote Originally Posted by raisedbywolves View Post
    I would question whether this kind of stuff would truly be a gift, hence why I think the IRS could tax it. With them soliciting the way they are I was questioning that. Maybe it truly would be a straight out gift. Definitely not deductible on the giver's side as charitable though.

    As for gifting in general, there are a ton of different rules that make up what contributes to the limit (like you can pay your relative's tuition straight to the school and it doesn't count towards the limit, but if you give it to them to pay the tuition it is a gift...same for hospital bills) and some of it is really crazy in my opinion.

    Back to Shin's first comment...I think the whole reason the IRS put that a deductible donation has to go to a registered charitable organization, instead of you just trying to help someone that needs help on your own, is because someone at some time tried to donate to themselves and claim it. You know some bright spark tried it at one time.
    I think people are still doing this, tbh.
    Quote Originally Posted by bowieluva View Post
    Listen, if no one cares when a crazy noodle walks in and executes children with a gun, no one cares about anything.

  10. #35
    So very tired raisedbywolves's Avatar
    Join Date
    Jan 2013
    Posts
    12,452
    Rep Power
    21474855
    Quote Originally Posted by Shins View Post
    I think people are still doing this, tbh.
    Wouldn't surprise me! People try to pull some shady shit with taxes. Sometimes they get away with it, but the penalties if they get caught can be pretty scary.

    Taxes in general are a huge pain in the ass. I only deal with them every once in a while when I have to for a couple of clients, but mostly I focus on corporate and non-profit accounting. It's much less of a pain in the ass than dealing with the IRS and people wanting to claim shady things. When I think of taxes I always think of this:


  11. #36
    Administrator Olivia's Avatar
    Join Date
    Jun 2006
    Location
    CA
    Posts
    26,933
    Rep Power
    21474876
    So, here's a good discussion topic regarding these sites. Last year, a couple lost their three year old son when he ran out onto the road chasing a frisbee. Sad. Anyway, because his mother is a blogger, someone started a GoFundMe Site for them. Now keep in mind, both parents are employed, seemingly comfortable/normal money-wise. I get that funerals, especially unexpected ones can cost a lot. So the fundraising site is fine for that. But they have raised almost $70k.

    And there has been no disclosure about where the money has gone. The mother has posted a bunch of instagram pictures of a number of vacations since his death - especially check out the one in August 2014. It must have cost a pretty penny.

    I would personally rather donate to a kid's charity.

    http://instagram.com/babyboybakery/

    http://www.gofundme.com/8xx8ao

  12. #37
    The Dude abides. strmmrgrrl's Avatar
    Join Date
    Sep 2006
    Location
    Long Island, NY
    Posts
    10,365
    Rep Power
    21474860
    Quote Originally Posted by bowieluva View Post
    Oh god the gofundme for the new bathroom.

    I will say this: a lot of the gofundme's that seem to be of a more personal nature (help me move, honeymoon) are not intended to be for the public. They're just using the site to give their friends and family a place to donate, but the site doesn't offer privacy options to limit who can see what. Smart people will explain this or add a disclaimer to their gofundme, slightly dumber ones will just word it in a way that it is obvious that they mean that.

    There's also shit like this:
    http://www.gofundme.com/AmericaAgain
    Ah! I never realized that. It just always looked to me like they were asking the public at large. However, asking family and friends for handouts for a $45k kitchen remodel et al still rubs me the wrong way.

    Quote Originally Posted by Olivia View Post
    So, here's a good discussion topic regarding these sites. Last year, a couple lost their three year old son when he ran out onto the road chasing a frisbee. Sad. Anyway, because his mother is a blogger, someone started a GoFundMe Site for them. Now keep in mind, both parents are employed, seemingly comfortable/normal money-wise. I get that funerals, especially unexpected ones can cost a lot. So the fundraising site is fine for that. But they have raised almost $70k.

    And there has been no disclosure about where the money has gone. The mother has posted a bunch of instagram pictures of a number of vacations since his death - especially check out the one in August 2014. It must have cost a pretty penny.

    I would personally rather donate to a kid's charity.

    http://instagram.com/babyboybakery/

    http://www.gofundme.com/8xx8ao
    Me too. Ugh.


    Quote Originally Posted by bowieluva View Post
    Getting arrested for coke in Vegas is like being found eating a chocolate bar in the willy wonka factory.

  13. #38
    fun hater Shins's Avatar
    Join Date
    Nov 2012
    Location
    Detroit
    Posts
    13,591
    Rep Power
    21474857
    Quote Originally Posted by Olivia View Post
    So, here's a good discussion topic regarding these sites. Last year, a couple lost their three year old son when he ran out onto the road chasing a frisbee. Sad. Anyway, because his mother is a blogger, someone started a GoFundMe Site for them. Now keep in mind, both parents are employed, seemingly comfortable/normal money-wise. I get that funerals, especially unexpected ones can cost a lot. So the fundraising site is fine for that. But they have raised almost $70k.

    And there has been no disclosure about where the money has gone. The mother has posted a bunch of instagram pictures of a number of vacations since his death - especially check out the one in August 2014. It must have cost a pretty penny.

    I would personally rather donate to a kid's charity.

    http://instagram.com/babyboybakery/

    http://www.gofundme.com/8xx8ao
    Yeah I'm not cool on that at all. They basically profited off of their kids death. Guess it's not so bad then, eh?

    I mean, if that's how people choose to spend/give their money, fine. But it will never be me.
    Quote Originally Posted by bowieluva View Post
    Listen, if no one cares when a crazy noodle walks in and executes children with a gun, no one cares about anything.

  14. #39
    Moderator bowieluva's Avatar
    Join Date
    Mar 2007
    Posts
    65,551
    Rep Power
    21474914
    Yeah, there is a big difference between needing $75k to provide medical care for your son and wanting $75k to throw him a lavish funeral.

  15. #40
    Senior Member PeaceBeWithMe's Avatar
    Join Date
    Nov 2014
    Location
    Displaced Canadian.
    Posts
    7,739
    Rep Power
    21474849
    Quote Originally Posted by Olivia View Post
    So, here's a good discussion topic regarding these sites. Last year, a couple lost their three year old son when he ran out onto the road chasing a frisbee. Sad. Anyway, because his mother is a blogger, someone started a GoFundMe Site for them. Now keep in mind, both parents are employed, seemingly comfortable/normal money-wise. I get that funerals, especially unexpected ones can cost a lot. So the fundraising site is fine for that. But they have raised almost $70k.

    And there has been no disclosure about where the money has gone. The mother has posted a bunch of instagram pictures of a number of vacations since his death - especially check out the one in August 2014. It must have cost a pretty penny.

    I would personally rather donate to a kid's charity.

    http://instagram.com/babyboybakery/

    http://www.gofundme.com/8xx8ao
    Well, holy fucking shit.

    Okay, when is it enough??

    Yeah, nice vaca pics. Waist deep in the tropics. How lovely for her.

    People are STILL donating.



    Quote Originally Posted by marshmallow View Post
    did you make her into a wallet Bill? cuz if you did I'm off team Bill.

  16. #41
    Senior Member debk589's Avatar
    Join Date
    May 2009
    Location
    Nawth Cackalacky
    Posts
    8,687
    Rep Power
    21474855
    I personally only donate if I know the situation directly, or a friend of a friend knows what's happening directly.

    As far as the wedding thing goes, I don't think that's bad, but just a general "Hey we're re-doing the kitchen and could use your help!" <- that's greedy and shitty. As far as weddings go, I always try to give what I think the bride and groom would really want, if they really want a blender, shit, even though I think it's dumb, I'll get it for them. If they request cash, I have no problem giving them cash. And if they have a honeymoon website, I'll happily contribute to that.

    Side note: one of my favorite wedding gifts was from a friend who knew where we were going on honeymoon, researched a really nice restaurant in that area, and got us a gift card for an really nice dinner on our honeymoon. Loved that gift

  17. #42
    Senior Member bermstalker's Avatar
    Join Date
    Nov 2012
    Posts
    12,591
    Rep Power
    21474855
    Because I read this site and about cases, I've seen some pretty shady funding sites.
    Especially when a case is getting big, all of a sudden a few funding sites will pop up for that person. Then a few days later, you will hear from the family saying they did not start that site.

    I don't trust any of them.

    Now if it's somebody I know and I know the situation- yes, I would donate.


    Funerals are very expensive. Usually they are unexpectant and most funeral homes don't take payment plans. If you are next of kin- you are usually f'ed.
    I would never donate to somebody's funding site for a funeral. Now...if they gave me the name of the funeral home- I would call the funeral home directly and pay something.

  18. #43
    Moderator bowieluva's Avatar
    Join Date
    Mar 2007
    Posts
    65,551
    Rep Power
    21474914
    What's fucked is that funerals don't have to be expensive. The industry is corrupt and exploitive. They take advantage of people in pain and in a fog.

    I strongly suggest everyone read The American Way of Death at some point.
    http://www.amazon.com/The-American-W.../dp/0679771867

  19. #44
    Senior Member animosity's Avatar
    Join Date
    May 2012
    Posts
    17,559
    Rep Power
    21474861
    when i worked at the mortuary, i think the cheapest thing they would offer was cremation for 250. they put you in a cardboard box in the clothes you died in or naked and voila! you're gone. you come back in a plastic bag placed inside a brown box.

    now, if you decided to have a viewing, with or without embalming, there was a slew of other charges for prepping the body and renting the casket and the chapel. actual funeral fees were outrageous, even then. i think the average from start to finish was about 7,000.

    i just want the cardboard fire option and then a party at the park. with booze. and music. and some shouting, please, along with laughing.

    also, if you guys can blow something up, that would be nice. please and thank you.
    Quote Originally Posted by songbirdsong View Post
    "Say, you know who could handle this penis? MY MOTHER."

  20. #45
    So very tired raisedbywolves's Avatar
    Join Date
    Jan 2013
    Posts
    12,452
    Rep Power
    21474855
    Quote Originally Posted by bowieluva View Post
    What's fucked is that funerals don't have to be expensive. The industry is corrupt and exploitive. They take advantage of people in pain and in a fog.

    I strongly suggest everyone read The American Way of Death at some point.
    http://www.amazon.com/The-American-W.../dp/0679771867
    This. Totally.

  21. #46
    Member
    Join Date
    Dec 2014
    Posts
    88
    Rep Power
    0
    I guess people browse GoFundMe. If people browse and contribute to people they don't even know, they must have a few screws loose.

    Really, it's different if you read an article, or come across the link some other way. At least you know some of the back story. To go looking for someone to donate to, why would you do that?

    As far as taxes go, they must have to supply a Social Security#, the IRS will be notified as soon as it reaches a certain amount. If it's a charity or other tax exempt group, they would have an ID# and card. For example, the Girl Scouts.

    There are lists on the web of "good" and "bad" charities, based on the $$$ that actually gets to the needy. Here's one list of the "best" charities with a link to the "worst". So, if in you're in the mood for giving, check it out.
    http://givalike.org/Public/Blog/Amer...Charities.aspx

  22. #47
    Senior Member puzzld's Avatar
    Join Date
    Aug 2007
    Posts
    18,586
    Rep Power
    21474867
    Quote Originally Posted by bowieluva View Post
    lol at Nestle being some vicious smiter, she's the nicest person on this site besides probably puzzld. Or at least the last person to resort to smiting.
    Quote Originally Posted by nestlequikie View Post
    Why on earth would I smite you when I can ban you?

  23. #48
    So very tired raisedbywolves's Avatar
    Join Date
    Jan 2013
    Posts
    12,452
    Rep Power
    21474855
    This article is more to do with Kickstarter and Crowdfunding, but also talks about GoFundMe. This article has to do more with a situation such as if a person is getting money to do something (make an album, do a hobby) than just helping someone out with a medical bill or something similar. In that instance (as I had originally implied) it would be taxable income. It seems though that some of these sites are reporting ALL monies received as income (where it truly is a gift or not) and expecting the recipient to figure it out with the IRS. Sounds fun.

    http://www.nbcnews.com/tech/innovati...cle-sam-n51236

    I've been thumbing through some old Journals of Accountancy, but so far haven't found any guidance. It looks like this is one of those situations that is probably going to get so big soon that they absolutely will have to address it though, IMO. There are so many nuances to each site and how/why the money is being collected....like tax in general it will all be relative to each situation, but I would expect them to put out some guidelines.

  24. #49
    Member Maggie May's Avatar
    Join Date
    Oct 2014
    Posts
    56
    Rep Power
    1339749
    This British couple got a lot of online abuse after setting up a donations page to help them out, after their baby was born 11 weeks early while they were on holiday in New York. They were asking for help with medical bills, then the hospital waived the fee, so they then asked for money for living expenses, until someone pointed out they are in a Ronald MacDonald House, which is free. They then said they wanted the money to buy stuff for the baby/pay the bills back home etc etc. It all kicked off massively, and now I see the donations are going directly to Ronald McDonald House Charities. What the original donations went towards, I don't know. Their travel insurance also paid up. The couple themselves aren't exactly skint, they flew to New York first class for a start. I don't think they expected quite so much animosity from the general public though!

    Anyhow, here's the facebook page, and thank goodness, the little baby is doing brilliantly.

    https://www.facebook.com/helpdax

  25. #50
    Member Pigkiller's Avatar
    Join Date
    Apr 2014
    Location
    Somewhere in the Pacific Northwest
    Posts
    63
    Rep Power
    2757336
    There was one I was reading not to long ago asking for assistance with funeral costs and general funds to keep the family going. In the plea for money they specifically stated what medical condition the person had died from and that they knew he had the condition for years. They said they were completely shocked by his death and how unexpected it was but if you looked up the condition, the number one cause of death was what this person dies from. While I feel heart broken that they lost their husband, after, uncle etc. all I could think was "um…seriously, how was this so unexpected?" I have a rare medical condition that "could" cause me to die in my sleep at any point in time and I would hope my family wouldn't consider it an unexpected death. We all know it is pretty unlikely but totally possible….

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •