>
> I had extra expendable money in 2011 and blew a large amount on things not exactly DU
> related and then resold most of it in 2012 to get most of the money back. That alone
> made it show more incoming than outgoing for 2012,
Sorry to hear about all of your problems. I imagine accounting for hobby income can at least reduce your tax burden, but getting the records together is bound to be a pain in the ass. I'm not sure how it works if you buy something one year and sell it the next. Can you still subtract the purchase price from the sale price to figure out profits/losses? Do you need to file an amended return for the previous year? I'm obviously not a tax specialist, but I'm sure sure your's will know the answers.
I like the idea of a non-profit in theory, but I'm not sure how difficult it is, or even if the DU would qualify. On the plus side, people could take a deduction on future donations.
Would it be easier if someone outside of the USA were the one taking donations?
|
Index 
Flat 
Re: DU Update: No good deed goes unpunished
Reply
