trueque
Full Fledged Farker
26 days and counting....
FullMoonBBQ
Well-known member
Micheal, We are waiting at our mailbox! :lie: Can't hardly wait :roll:
nthole
Babbling Farker
Legitimate question. If you placed and didn't get paid, is that considered a tax deductible donation since this was a 501c org? Essentially you gave them the money back by never getting it. I would assume the contest cost isn't because, even though you didn't receive the 'something of value' promised, you did actually have the opportunity to since some places were paid. Where's the accountants in the house?
Jeff_in_KC
somebody shut me the fark up.
I'm not an accountant but it makes perfectly good sense. However, if audited, documenting it might be problematic.
nthole
Babbling Farker
Save the YouTube video, download a copy of the website with the advertised payouts and save the score sheet that shows where you placed, indicating how much you 'donated'?
Jeff_in_KC
somebody shut me the fark up.
I guess that is documentation! LOL! I would just wonder if the IRS would look at you funny and say "Really?" :laugh:
I have no clue if it's legal, but how many teams that are owed money would be willing to accept a 1099 in lieu of payment?
nthole
Babbling Farker
I'd bet quite a few. I had originally thought of donating the money back to the charity if we won anything. When it became a cluster I was less anxious to hand them a check back. At this point I doubt I'll ever see it anyway. It's not like I'm strapped for cash, but heck, if I can use it as a deduction at the end of the year since that's essentially what happened to it I don't think that's out of line.
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