Today, I’m discussing the tax implications of mutual aid funds and how it relates to the context of Hurricane Helene's impact here in Western North Carolina with the creation of paypals and fundraisers for donations.
Join me in this important episode to learn how to handle the tax side of mutual aid and how to make sure you’re staying on the right side of the IRS.
Also mentioned in today’s episode:
The importance of documenting gifts with written proof 3:45
Offsetting tax liability 7:29
Charitable donations and itemized deductions 12:48
If you enjoyed this episode, please rate, review and share it!
Links:
Emergency Relief Fund Grants for Artists
The WNC Strong: Rebuilding Together Grant for grant aid to help local Businesses survive and rebuild: https://www.mountainbizworks.org/helene/donate
For Sunlight Tax Mutual Aid donations. I will donate 100% of these funds directly to people in need.
