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Author: 4aapl Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 123156  
Subject: Re: OT sponsorship tax Date: 7/19/1999 2:05 PM
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One more thing. I am looking for ways for me to avoid having to pay taxes on the money the sponsors give me.

My main priority is not paying taxes on the sponsor money, along with finding out about new tax forms I would have to fill out, if any.

That said, with the gift tax option, both the giver and the reciever don't have to pay taxes on it, unless the sponsor is already over the limit for the year. This is where me being a Non-profit org would help them out a little....but I don't think that is going to happen right now unless it's my only way around paying taxes on the sponsor money.

Bet this isn't a question you get everyday :)

Well, that's it for now. Hopefully this will be enough, and I won't think of a new complexity (or simplification) 5 minutes from now :)

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