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When there are two competing goonfund threads everyone will be better for it, because it will be just like capitalism. That's a good thing.
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Oct 18, 2022 03:15
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Ronwayne posted:Hey Plinkey, don't let the shitheads get you down, you've helped me with serious medical issues before and for that I am extremely grateful. They've cropped up again, anything helps. Thank you. 
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Oct 18, 2022 03:15
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fun hater posted:this is unconvincing and weird behavior
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Oct 18, 2022 03:15
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When you think about it, this fund is being run anarchistly and the newer fund is being run socialistly. Little something to bake your noodle on
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Oct 18, 2022 03:15
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fun hater posted:this is unconvincing and weird behavior this might not be the right thread to ask about the new patreon pricing system
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Oct 18, 2022 03:16
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VideoKid posted:as many people have said, a spread sheet is forthcoming. In the meantime why don’t you do anything else? lol
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Oct 18, 2022 03:17
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fun hater posted:im askin for a scrap here for data points tbh. if someone else has a patreon under the new pricing system dm me ty you will not get that scrap. plinkey does not seem inclined to accommodate you, personally. what you do with this information is up to you.
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Oct 18, 2022 03:17
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Hey how about the new pricing scheme for youtube creators anyone have news on that just trying to get some data points no need to be hostile
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Oct 18, 2022 03:18
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WrasslorMonkey posted:When there are two competing goonfund threads everyone will be better for it, because it will be just like capitalism. That's a good thing. been saying this from the start
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Oct 18, 2022 03:18
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Fortaleza posted:When you think about it, this fund is being run anarchistly and the newer fund is being run socialistly. Little something to bake your noodle on yep. centralized committees ftw
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Oct 18, 2022 03:19
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starting to look like some sort of communist dictatorship around these parts. not good
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Oct 18, 2022 03:19
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Fortaleza posted:When you think about it, this fund is being run anarchistly and the newer fund is being run socialistly. Little something to bake your noodle on One of them has been delivering to people directly with potential problems and threats to longevity, the other is stuck in debate about leadership positions and tax laws, which does map to how I've seen anarchist and socialist activist projects go
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Oct 18, 2022 03:20
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Has anyone talked about wisely investing these funds and perhaps a manager could take a simple commission to manage these investments
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Oct 18, 2022 03:21
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CODChimera posted:starting to look like some sort of communist dictatorship around these parts. not good who is the dictator? theoretically
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Oct 18, 2022 03:21
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Shiroc posted:One of them has been delivering to people directly with potential problems and threats to longevity, the other is stuck in debate about leadership positions and tax laws, which does map to how I've seen anarchist and socialist activist projects go doing actual socialism is hard and complicated so instead just give me your money
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Oct 18, 2022 03:21
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Plinkey posted:if anyone has another good point to make, post it, but this is not a discussion thread
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Oct 18, 2022 03:23
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F Stop Fitzgerald posted:yep. centralized committees ftw
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Oct 18, 2022 03:24
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Well you see, walking up to an ad-hoc mutual aid group in real life, accusing people I don't know of being piece of poo poo degenerate gambling addicts, while demanding accountability and spreadsheets on behalf of donors, might actually be dangerous for me and would absolutely change nothing, so I am just really lucky the goonbucks thread exists so that I have an outlet for my impulse to absolutely poo poo all over and ruin good things 
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Oct 18, 2022 03:28
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Riot Bimbo posted:i know these communities share a login and the forums are technically all one thing but it's still absolutely wild people who previously in point of fact had no actual stake in a single loving thing here, except as detached observers, can just show up and raise hell about something that nobody actually participating seems to have been making noise about. Yet, can foist un-asked-for accountability in what's pretty obviously less-than-genuine concern, get told to gently caress off by a good chunk of the people involved, and still get taken seriously. good post
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Oct 18, 2022 03:31
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Slanderer posted:doing actual socialism is hard and complicated so instead just give me your money none of us are literal sovereign states as far as i know
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Oct 18, 2022 03:32
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fun hater posted:the only person who has this info is the op. whats with the hostility fun hater posted:ive been posting charity suggestions for a forum i find morally repugnant. im going straight to heaven for this Yeah, it’s a real loving mystery
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Oct 18, 2022 03:33
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why is cspam "morally repugnant"
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Oct 18, 2022 03:37
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Nichael posted:why is cspam "morally repugnant" revisionist
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Oct 18, 2022 03:39
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lol take your nextdoor-rear end posting back to your whiny bitch subforum, dorks
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Oct 18, 2022 03:44
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Nichael posted:good post
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Oct 18, 2022 04:05
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500+ posts? What the gently caress happened here? What kind of bullshit is this and how has it been allowed to continue in this thread? Take it back to loving QCS.
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Oct 18, 2022 04:06
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Fortaleza posted:When you think about it, this fund is being run anarchistly and the newer fund is being run socialistly. Little something to bake your noodle on no, it's a dictatorship of the plinkeytariat, not anarchy. please report to the theory thread.
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Oct 18, 2022 04:10
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vortmax posted:500+ posts? What the gently caress happened here? What kind of bullshit is this and how has it been allowed to continue in this thread? Take it back to loving QCS. Yeah TELL EM dude 😎
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Oct 18, 2022 04:35
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Nichael posted:good post
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Oct 18, 2022 04:40
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Nichael posted:good post
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Oct 18, 2022 04:47
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Riot Bimbo posted:i know these communities share a login and the forums are technically all one thing but it's still absolutely wild people who previously in point of fact had no actual stake in a single loving thing here, except as detached observers, can just show up and raise hell about something that nobody actually participating seems to have been making noise about. Yet, can foist un-asked-for accountability in what's pretty obviously less-than-genuine concern, get told to gently caress off by a good chunk of the people involved, and still get taken seriously. yeah, good post. this situation is stupid. i get why people would not trust plinkey and say this looks like a huge scam. i dont get why they think the people donating don't have the same ability. i also get why plinkey responds the way he does and i don't see a problem with him telling people to gently caress off. almost nobody jumping on this who is demandingly critical acknowledges what plinkey says or that there may be valid reasons for some of the choices that look kooky. no winning move
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Oct 18, 2022 04:54
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Cuttlefush posted:yeah, good post. this situation is stupid. i get why people would not trust plinkey and say this looks like a huge scam. i dont get why they think the people donating don't have the same ability. i also get why plinkey responds the way he does and i don't see a problem with him telling people to gently caress off. almost nobody jumping on this who is demandingly critical acknowledges what plinkey says or that there may be valid reasons for some of the choices that look kooky. no winning move it's not helping that the pyf people are literally tizzying themselves up and making some pretty impressive leaps in logic based on their own deliberate exaggerations of what's happening here lol There's several parties here but the ones instigating are largely the ones that by any rational reckoning have no real right to insert themselves into this and idk I don't really care what's going on with plinkey, because as a dynamic, this weird drama generation is bar none the most disruptive and unpleasant element in play. Like their points are only valid in the specific case where the dynamic between plinkey, donors, and recipients of aid is not functional, and it is, and this a group of people that started some poo poo so they could get high on their own histrionics and it would be amazing if it wasn't so incredibly lovely in its target
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Oct 18, 2022 05:29
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drat i cant believe a couple dozen weirdos are shuffling a few hundred bucks around amongst eachother and posting about it without proper financial oversight. better log on and make a bunch of extremely bad fuckin posts about it
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Oct 18, 2022 05:46
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ben shapino posted:drat i cant believe a couple dozen weirdos are shuffling a few hundred bucks around amongst eachother and posting about it without proper financial oversight. better log on and make a bunch of extremely bad fuckin posts about it Wait where is this happening?!
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Oct 18, 2022 05:51
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smarxist posted:
hasta la stimpire
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Oct 18, 2022 06:00
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Cuttlefush posted:yeah, good post. this situation is stupid. i get why people would not trust plinkey and say this looks like a huge scam. i dont get why they think the people donating don't have the same ability. i also get why plinkey responds the way he does and i don't see a problem with him telling people to gently caress off. almost nobody jumping on this who is demandingly critical acknowledges what plinkey says or that there may be valid reasons for some of the choices that look kooky. no winning move Smarxist just making up stories about taxes being paid and lying about having inside knowledge of the operation probably didn't help anything.
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Oct 18, 2022 06:06
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Plink, I just wanted to let you know that the section you linked there does not say that income received from patreon is tax-free. It is explicitly saying that a gift given without the expectation of a benefit can still be considered taxable income under federal law and possibly state law. Patreon will begin reporting a 1099-K form to the IRS for all accounts that earn over $600 a month starting in 2023 for the 2022 tax year. https://support.patreon.com/hc/en-us/articles/207099566-Will-I-receive-a-1099-K-form- That means that they will report your taxpayer ID # or Social Security # for the bank account associated with the account and the IRS will compare that against your W-2 and 1099-B forms submitted by you on your tax filings at the end of the year to determine if there are any discrepancies. Gifts are tax-exempt, but donations are not. Unless the gift is being sent directly to you for your personal use, then it does not automatically become tax-exempt. The IRS uses a "preponderance of circumstances" standard for determining a gift. Acting as the middle man and accepting donations personally can mean that the donations are not considered a "delivery of the gift by the donor to the donee" that is required for the contribution to be considered a gift because the donor is not "gifting" the money to you personally. The IRS is more likely to believe something is a gift when it comes from someone you have an association with. One total stranger handing you money as a gift is believable, but 300 total strangers handing over cash and expecting nothing in return? That’s a tougher sell - even if it is 100% the truth! The IRS will not assume that by default. Especially if the fund is set up where the donors and recipients are both comprised entirely of members in a select club or organization (like the Something Awful forums) and not completely random. If you get a 1099-K from Patreon, the IRS got a 1099-K with your name on it from Patreon. In this case you MUST report the income, even if you, or your tax professional, figures out a way to make such income non-taxable. You will have to provide all the information on your filings and either claim it as non-taxable income or pay taxes on it. For real world purposes, this all comes down to what gets reported to the IRS. If Patreon sends you a 1099-K or other tax reporting form for filing your taxes (as they will start doing this tax year), that means they reported that amount to the IRS as income. The IRS will assume that these payments are income, and their computers will flag your return if the income you report doesn’t match. Unless you are a 501(c)3 organization, your donations are not automatically assumed to be tax-deductable and all patreon contributions are assumed to be income for reporting purposes: https://support.patreon.com/hc/en-us/articles/360004304332-Can-nonprofit-organizations-use-Patreon- The IRS considers all funds sent to a personal account through a crowdfunding campaign to be "constructively received" as income by the donee. quote:Section 1.451-2 of the Income Tax Regulations sets forth the constructive receipt doctrine and provides that income although not actually reduced to a taxpayer's possession is constructively received by him in the taxable year during which it is credited to his account, set apart for him, or otherwise made available so that he may draw upon it at any time, or so that he could have drawn upon it during the taxable year if notice of intention to withdraw had been given. You may be able to argue to the IRS, and have them agree, that your circumstances do not qualify as income. But, it is NOT assumed that as a default. That means that after you submit you tax filings in 2023, it is likely that the IRS will send you a letter about the discrepancies after Patreon submits a 1099-K on your behalf. This could also open you up to review of previous unreported income from earlier tax years. I think you could have a case with the IRS that your donations are not considered income, but the fact that you have sole discretion over how the funds are handled, deposit them into a personal bank account, and receive them from a site where all donations to non-501(c)(3) entities are considered taxable income make that not a sure bet. If they do a look-back period for previous unreported income and they consider your previous unreported 1099-K income as constructively received, then you could be on the hook for roughly $13k in taxes per tax year for 2020, 2021, and 2022 (the exact amount would depend on the amount of your other taxable income for those years and what state you reside in). I would strongly urge you to be proactive in either setting up receipts through a different payment provider, forming a 501(c)(3) org and changing the TIN/SSN number on your patreon account to a registered 501(c)(3) organization, or contacting the IRS with the details of your arrangement and asking for a pre-emptive ruling on whether your donations are constructive receipts BEFORE Patreon reports your 1099-K (which would happen in February or March of 2023). Patreon taking 20% also sucks, but that it is a minor issue relative to your potential personal tax liability. Based on your posts it seems likely that you did not pay the taxes on your 1099-K income for the past 2 tax years (and the upcoming 2022 year) and you should make sure you have either proactively covered yourself via an EO tax-exempt 501(c) org designation or determining the facts with the IRS to get a clearance BEFORE your 1099-K from patreon is submitted for the 2022 tax year. The IRS does not do emails for personal inquiries, but you can call this number to talk with someone who can answer questions about specific fact inquiries regarding individual income liability: 800-829-1040 I think you have a decent case for a favorable exemption from the constructive receipt doctrine under the totality of the facts argument. But, as an individual taxpayer who only has self-imposed restrictions on the availability of the income, it is not a 100% sure thing. You might be able to slide under the radar when Patreon doesn't report your 1099-K income, but with mandatory 1099-K reporting in 2022, close to $50k of unreported income, and the automatic flagging system for discrepancies between a tax filing and the 1099-K forms it is not a sure thing. I would strongly advise you to spend 20 minutes on the phone to sort this out and confirm or form a 501(c)3 organization before the end of the year. The potential worst case scenario is about $39k in tax liability for 3 years of unreported income and even the best case scenario is still a few weeks of annoying letters and phone calls to sort it out after the flagging of discrepancies in your 2022 filing. Leon Trotsky 2012 has issued a correction as of 06:47 on Oct 18, 2022 |
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Oct 18, 2022 06:25
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["cool" substitute teacher sitting in a backwards chair]Leon Trotsky 2012 posted:Plink,
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Oct 18, 2022 06:28
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Leon Trotsky 2012 posted:The potential worst case scenario is about $39k in tax liability for 3 years of unreported income and even the best case scenario is still a few weeks of annoying letters and phone calls to sort it out after the flagging of discrepancies in your 2022 filing. is there no fine + interest? i may be in a similar situation from last year but with only about 1% of that total amount lol
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Oct 18, 2022 06:34
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i say swears online posted:is there no fine + interest? i may be in a similar situation from last year but with only about 1% of that total amount lol It depends on the specific circumstances, but for a normal individual tax return, unless you are doing something very obvious that makes it 100% certain that you are attempting to purposefully hide income maliciously, then the IRS will usually just send you a letter saying that you need to file an amended return and pay X amount now. And they will provide a number to call and and address to mail if you want to dispute it and file an extension. The IRS also has de minimis rules, which means that they will not go after someone who owes less than X amount of taxes due to underpayment. That amount changes every year, but is usually around $230. So, if the total amount you failed to report results in less than ~$230 extra dollars owed and they don't send you a letter, then you're fine. Also, if it was last year, then Patreon likely did not send a 1099-K to the IRS, so they will never know anyway. You're most likely fine and don't need to do anything if you haven't heard from them by now about a 2021 filing.
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Oct 18, 2022 06:40
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