Comments on: Individual fundraisers and homeschool groups http://homeschoolcpa.com/individual-fundraisers-and-homeschool-groups/ Helping homeschool leaders Sun, 22 Jan 2012 12:01:31 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Carol Topp http://homeschoolcpa.com/individual-fundraisers-and-homeschool-groups/comment-page-1/#comment-535 Carol Topp Wed, 01 Sep 2010 13:16:45 +0000 http://homeschoolcpa.wordpress.com/?p=44#comment-535 Sounds like a good deal to me. Just remember that the IRS looks at selling products as Unrelated Business Income (UBI), and is subject to tax. In other words, you income form your tax exempt purpose(eductaion) is tax-exempt, but your income from unrelated activities(selling products) is taxable income. There are a few ways to avoid UBI tax: Any amount under $1,000 is not taxed, or if you use all volunteers to sell the product the income is not taxed. Carol Topp, CPA Sounds like a good deal to me. Just remember that the IRS looks at selling products as Unrelated Business Income (UBI), and is subject to tax. In other words, you income form your tax exempt purpose(eductaion) is tax-exempt, but your income from unrelated activities(selling products) is taxable income. There are a few ways to avoid UBI tax: Any amount under $1,000 is not taxed, or if you use all volunteers to sell the product the income is not taxed.

Carol Topp, CPA

]]> By: Mary B http://homeschoolcpa.com/individual-fundraisers-and-homeschool-groups/comment-page-1/#comment-2 Mary B Wed, 11 Mar 2009 14:02:57 +0000 http://homeschoolcpa.wordpress.com/?p=44#comment-2 Related question: Our support group is running a Conference for the first time. In order for the second to be successful I'd love to include a funriser that was offered by a vendor. This company cannot travel so far but would ship product for us to sell. Because we are not buying the product ahead there is no debt. They are the ones getting checks so they would be responsible for Sales Tax. Too good to be true? Related question:

Our support group is running a Conference for the first time. In order for the second to be successful I’d love to include a funriser that was offered by a vendor. This company cannot travel so far but would ship product for us to sell.

Because we are not buying the product ahead there is no debt. They are the ones getting checks so they would be responsible for Sales Tax.

Too good to be true?

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