This year I founded an online community to accept donations called Mamas Move Mountains. I pass on the proceeds to moms but its not registered as a non-profit. How can I make the money I received non-taxable, like GoFundMe?
Answered by Melissa Pedigo, CPA ·
Great question! In order for the proceeds to not get taxed, they'll need to qualify as personal gifts. In your case, it certainly should as long as no individual contributions exceed $15,000 and the people making the contributions are not "receiving at least equal value in return".