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Looking To Avoid Any Minefields Involved In Starting A GoFundMe Page

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posted on Nov, 30 2018 @ 04:02 PM
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My plan is simple. I need to raise some money so that I can at least have bus fare to go to doctor appointments and such. Ideally I would like to raise enough money to buy a used vehicle.

The landmines that I'm talking about:

Will gaining money via GoFundMe lessen future disability payments from Social Security? I'm in the process of appealing my last (3rd) hearing and don't want to mess that up.

As I am not planning to use this money to fund a business or buy stock/CD's etc will the IRS consider it as income requiring me to pay any of it to them?

Will the State of Texas or the IRS require me to pay any of this as a gift tax?

Liberty Tax's answer to some of my questions


Crowdfunding services have to report to the IRS campaigns that total at least $20,000 and 200 transactions. Money collected from crowdfunding is considered either income or a gift.


From what I have read on various sites what the IRS considers as taxable income is rather open to interpretation due to crowdfunding being a recent concept.

Another thing that I am not clear on is the part about "200 transactions". Does that me each time I withdraw from my GoFundMe account? Does it mean each time someone donates? Both?




posted on Nov, 30 2018 @ 04:19 PM
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a reply to: LookingForABetterLife

I would suggest just starting it and worrying about that shi when and IF you get any donations. Chances are you wont get any donations. Way it goes.



posted on Nov, 30 2018 @ 04:38 PM
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edit on 11/30/2018 by Flyingclaydisk because: Bad timing.



posted on Nov, 30 2018 @ 04:38 PM
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All good questions , LFBL.

Hopefully you get some answers you need in this thread, or at least pointed in the right direction.

I’m wishing you success with this !!!



posted on Nov, 30 2018 @ 04:40 PM
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a reply to: Flyingclaydisk

now I have to delete.
edit on 30-11-2018 by notsure1 because: (no reason given)



posted on Nov, 30 2018 @ 04:46 PM
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a reply to: Flyingclaydisk




I guess she wasn't so stupid after all!




A member is asking legit questions for very legit reasons. A little cash could help him get to his appointments thus helping him from ending up on the streets.

This isn’t funny .. it’s very real.

edit on 30-11-2018 by Sheye because: (no reason given)



posted on Nov, 30 2018 @ 04:49 PM
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a reply to: Sheye

I'm sorry, you're right, that probably wasn't appropriate.

I will delete.

I was actually half serious though. My point was GFM accounts need a hook to generate donations. And, many don't get donations at all.



posted on Nov, 30 2018 @ 04:57 PM
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a reply to: LookingForABetterLife

Here's my tip. Skip the whole gofund me.

If you truly need just transportation, go on facebook to your local marketplace page.
Ask people local in your area if they could help. Explain your situation.
I know here many many people helped out an elderly woman that needed her sidewalks shoveled.

I think you will have a much better response.
There might be people already going in that same direction. People might know of local resources that you don't that maybe can help.



posted on Nov, 30 2018 @ 04:58 PM
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originally posted by: JAGStorm
a reply to: LookingForABetterLife

Here's my tip. Skip the whole gofund me.

If you truly need just transportation, go on facebook to your local marketplace page.
Ask people local in your area if they could help. Explain your situation.
I know here many many people helped out an elderly woman that needed her sidewalks shoveled.

I think you will have a much better response.
There might be people already going in that same direction. People might know of local resources that you don't that maybe can help.


Facebook marketplace is awesome. Only good thing about FB



posted on Nov, 30 2018 @ 04:59 PM
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a reply to: Flyingclaydisk

I understand your point Fcd, but isn’t the simple truth enough of a hook ?

LFBL has really been struggling with getting to important appointments, and all he needs right now is a liitle advice and understanding.

Let’s hope he finds all the help he needs.😁



posted on Nov, 30 2018 @ 05:17 PM
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a reply to: LookingForABetterLife

If you just need a small amount of funding like you suggest why not just do some freelancing jobs on the internet? You are obviously able to use your brain and type. You can work.



posted on Nov, 30 2018 @ 05:25 PM
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originally posted by: LookingForABetterLife
My plan is simple. I need to raise some money so that I can at least have bus fare to go to doctor appointments and such. Ideally I would like to raise enough money to buy a used vehicle.

The landmines that I'm talking about:

Will gaining money via GoFundMe lessen future disability payments from Social Security? I'm in the process of appealing my last (3rd) hearing and don't want to mess that up.

As I am not planning to use this money to fund a business or buy stock/CD's etc will the IRS consider it as income requiring me to pay any of it to them?

Will the State of Texas or the IRS require me to pay any of this as a gift tax?

Liberty Tax's answer to some of my questions


Crowdfunding services have to report to the IRS campaigns that total at least $20,000 and 200 transactions. Money collected from crowdfunding is considered either income or a gift.


From what I have read on various sites what the IRS considers as taxable income is rather open to interpretation due to crowdfunding being a recent concept.

Another thing that I am not clear on is the part about "200 transactions". Does that me each time I withdraw from my GoFundMe account? Does it mean each time someone donates? Both?


From my understanding if you are any government income or even food stamps you can receive a bus pass for free through an application. I could be wrong as I have been many times in my past.
As for the GFM I know very little about it.
Either way I wish you the best of luck.



posted on Nov, 30 2018 @ 05:34 PM
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originally posted by: Flyingclaydisk
a reply to: Sheye

I'm sorry, you're right, that probably wasn't appropriate.

I will delete.

I was actually half serious though. My point was GFM accounts need a hook to generate donations. And, many don't get donations at all.


Perhaps I am glad to not have found your deleted commit. Per "a hook", to avoid the sharing of unneeded information I have kept the questions as simple as I can. I'll add the hook to the GoFundMe page if I decided to go through with it.



posted on Nov, 30 2018 @ 05:35 PM
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a reply to: Sheye

Thank you for your well wishes.



posted on Nov, 30 2018 @ 05:38 PM
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originally posted by: JAGStorm
a reply to: LookingForABetterLife

Here's my tip. Skip the whole gofund me.

If you truly need just transportation, go on facebook to your local marketplace page.
Ask people local in your area if they could help. Explain your situation.
I know here many many people helped out an elderly woman that needed her sidewalks shoveled.

I think you will have a much better response.
There might be people already going in that same direction. People might know of local resources that you don't that maybe can help.


Thank you for your suggestion. As much as I hate Facebook I'll have a look at it again. I found one site in the past on FB but after helping me once they disappeared. Hopefully there are additional local resources that I have yet to find.



posted on Nov, 30 2018 @ 05:40 PM
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originally posted by: Metallicus
a reply to: LookingForABetterLife

If you just need a small amount of funding like you suggest why not just do some freelancing jobs on the internet? You are obviously able to use your brain and type. You can work.


This is something that I have put off for too long into looking into.



posted on Nov, 30 2018 @ 05:41 PM
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a reply to: Allaroundyou

The only free bus service I have found in my area is one county over, meaning I can't use it.



posted on Nov, 30 2018 @ 05:55 PM
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originally posted by: LookingForABetterLife
a reply to: Allaroundyou

The only free bus service I have found in my area is one county over, meaning I can't use it.


Do you have a church or Salvation Army kinda place near you? I’m sure they have information that could help. Honestly though a church of any denomination may be of more help than anything.



posted on Nov, 30 2018 @ 06:39 PM
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originally posted by: Allaroundyou

originally posted by: LookingForABetterLife
a reply to: Allaroundyou

The only free bus service I have found in my area is one county over, meaning I can't use it.


Do you have a church or Salvation Army kinda place near you? I’m sure they have information that could help. Honestly though a church of any denomination may be of more help than anything.


I've struck out with the church and Sal Army types as either they don't offer help in my area or they want money that I do not have.



posted on Nov, 30 2018 @ 07:04 PM
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originally posted by: Allaroundyou

originally posted by: LookingForABetterLife
a reply to: Allaroundyou

The only free bus service I have found in my area is one county over, meaning I can't use it.


Do you have a church or Salvation Army kinda place near you? I’m sure they have information that could help. Honestly though a church of any denomination may be of more help than anything.


Churches will help if you are a member. If you are not a member they will tell you to suck eggs.



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