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I'm trying to get a website off the ground focusing on teaching the physically disabled how to create music with their computer. I'd also be reviewing software that helps with accessibility towards that goal. Here is my dilemma. I currently receive SSI as my only source of income and Medicaid in NJ and I am worried what implications receiving donated software would have for my benefits. I would have a website I pay hosting for with video content hosted on a youtube or vimeo channel. I'm not looking for money and any software licenses I receive from interested developers would be Not For Resale. I would eventually like to go to trade shows and give free courses if this finds any success. I am wondering what if any tax reporting I would have to do for review copies and other NFR stuff that might be donated. Since I'm not looking to receive any monetary donations would I need to sign any tax forms to start this? I've had a really tough time finding info on this especially relating to SSI. Thanks for any info you guys might have.
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Sep 6, 2015 00:53
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I think you would have to create a legal organization of some kind and then apply to the IRS for charitable status. The new organization will have its own tax ID and require its own tax forms filed annually, and will have absolutely nothing to do with your SSI, unless volunteering for any charity would somehow show that you are in fact capable of earning a living for yourself. Basically, follow these steps: http://quickbooks.intuit.com/r/am-i-ready/how-to-create-a-501c3-tax-exempt-non-profit
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Sep 6, 2015 03:25
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http://www.nolo.com/legal-encyclopedia/small-nonprofits-qualifying-tax-exempt-status-without-filing-irs-application.html Could this apply to me? I'm not in a position to obtain legal services. If I keep it small would it work? As I said, I'd only accept software donations that I can't sell back. If I keep things small and have a paper trail is that feasible? Spoke Lee fucked around with this message at 09:45 on Sep 9, 2015 |
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Sep 9, 2015 04:33
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You are not the non profit. Any income it receives is not taxable income to you. Now if you get benefit from these items that is income to you and expense to the not for profit. Unless you are a church you will need to file a tax return and should incorporate in your state. You probably should form a board of directors. Filing for a determination letter is not that hard or expensive though you can easily do it yourself. You can also probably from the corporation online with your secretary of state for $40.
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Sep 10, 2015 17:07
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