Replies

To: Mikey_1962

They have raised $511,000 in Go Fund Me as of this morning.

What is the gift tax on something like that? And I assume they have to pay income tax on it as well?

54 posted on 04/03/2015 7:48:34 AM PDT by DoodleDawg

To: DoodleDawg

No. Since each is a Gift and is less than $14,000 there are no taxes.

The average donation is $30

87 posted on 04/03/2015 9:19:58 AM PDT by Mikey_1962 (Democrats have destroyed more cities than Godzilla)

To: DoodleDawg

I pray that Obama’s IRS won’t go after them

89 posted on 04/03/2015 9:24:44 AM PDT by Patriot Babe

To: DoodleDawg

Under IRS regulations, the Donor pays gift taxes on any gift over $14,000. The Recipient of the gift owes nothing.

91 posted on 04/03/2015 9:49:10 AM PDT by So Cal Rocket (Task 1: Accomplished, Task 2: Hold them Accountable!)

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