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Old 04-09-17, 07:16 PM   #26
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Re: Writer Peter David is in "desperate trouble" with the IRS

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Originally Posted by Trevor View Post
Small donations are not taxed. I think the limit to hit taxation is like an individual donation of 14 grand. So even a million in small donations is tax free.
That is not accurate Trevor.
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Old 04-09-17, 09:33 PM   #27
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Re: Writer Peter David is in "desperate trouble" with the IRS

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That is not accurate Trevor.
That was the gist I got from quite a few google hits and reputable looking answers, but there were mentions of exceptions in some jurisdictions and situations. So what is the truth?
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Old 04-10-17, 09:03 AM   #28
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Re: Writer Peter David is in "desperate trouble" with the IRS

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That was the gist I got from quite a few google hits and reputable looking answers, but there were mentions of exceptions in some jurisdictions and situations. So what is the truth?
There are two considerations:

1) If these are just gifts to a non-exempt organization (like David) then technically the giver has to pay the taxes in some cases, but that's not really going to be a consideration here unless he got a large single gift.

2) There is still a threshold which he would be well past.

But as was mentioned above, he does seem to realize this and asked for an amount which would cover both (although technically the tax portion would still be a gift).

At this point I would imagine the IRS would love getting the money either way.
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Old 04-10-17, 05:40 PM   #29
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Re: Writer Peter David is in "desperate trouble" with the IRS

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It's a little confusing, because that blog post gives his paypal address, but there's also a link to a gofundme campaign, which I think started later. So the gofundme may not be all the funds he's received.

The Update 4 on gofundme says they're 3/4 the way to their goal. He's also going to set up a Patreon after the tax goal is reached to get some monthly income by releasing unpublished stories and the like to patrons.
https://www.gofundme.com/peter-david-needs-your-help
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