Sythe.org Player-Auctions Donation Center

[RsProd]

The IRS cannot ever touch you unless you hit $20,000 or more, thats why I was going to stop donations if I could have reached $15,000 - 18,000 mark.

If I get my paypal account unlocked I'm not sure I'd do them again as I will be selling gold and paying federal income tax on all $ received...and I don't want to take a 20%+ hit for the donations I take through paypal as well.

Cheers for that confirmation. I personally, don't see this donation method receiving $20,000USD in 1 year. If it comes anything close to that, I'm sure it could be temporarily closed down to keep the 'proctor' safe from the IRS. Even if this donation method is temporary, it is better then having no paypal donation method at all.

 

[Sillymonkey]

Even if this donation method is temporary, it is better then having no paypal donation method at all.

Figured I should highlight that lol.

With a bit of creative thinking, it wouldn't be hard to eliminate tax liability, hence making it 'economically viable' for the proctor.

Fees are another issue, but a donation is a donation...I'm sure not everybody donates simply for rank, and no matter how small you slice the cheese, you still have a slice of cheese in the end.

 

[RsProd]

Figured I should highlight that lol.

With a bit of creative thinking, it wouldn't be hard to eliminate tax liability, hence making it 'economically viable' for the proctor.

Fees are another issue, but a donation is a donation...I'm sure not everybody donates simply for rank, and no matter how small you slice the cheese, you still have a slice of cheese in the end.

Good point. Thanks for the support.

 

[ChristmasCracker]

Can't we just do a Plimus donation?
Since plimus is based off file buying, Sythe.org can sell a file that includes some random crap, or just a blank file.

Flawless.

 

[Tckr]

Doesn't seem like it would be hard to do. Support.

 

[KerokeroCola]

The IRS cannot ever touch you unless you hit $20,000 or more, thats why I was going to stop donations if I could have reached $15,000 - 18,000 mark.

Do you have a way to prove this? If so, I'd personally be more than happy to go about donations using Google. The fees are cheap and it's a very easy procedure.

 

[FireZ]

Starting in 2011, PayPal is required by the IRS to report the sales of goods and services for customers who, in a single year receive:

• More than $20,000, AND
• 200 or more payments.


The new IRS 6050W changes apply to all payment providers, including PayPal. This includes payments received after January 1, 2011, with the first reports sent to the IRS in early 2012.

From paypal.com



Anyways US gold sellers (steady) would have a very hard time running donations with a tax on themselves. This includes every online payment option as well, not just paypal.

 

[KerokeroCola]

Any chance you know if that is a COMBINED $20k in receiving funds or just per one account? I've received very close to $20k (if not more) in Paypal, but less than a few thousand using Google.

 

[NewmanJet157]

i love this idea Prod. And hope it works or we find a solution!

 

[The Unit]

This is a very good idea, I don't see why this shouldn't be made.

 

[jake d dog]

:nuts:

 

[TDG Best]

Good idea. We really need some paypal based donation setting, support!

 

[DOUBLES50NOWoC0M]

No objections to this at all. As long as it won't occupy too much time of a moderator, then by all means open up another donation option.

Seems like this method would be fairly straight forward as well.

 

[Veni]

Love the idea

I want my $25 donor rank.

 

[RsProd]

Any chance you know if that is a COMBINED $20k in receiving funds or just per one account? I've received very close to $20k (if not more) in Paypal, but less than a few thousand using Google.

I assume it would be combined, as it still equates to $20+ through that one person, which would need to be declared. That is only a guess though, I have no experience to back it up, just seems logical.

Thanks to all the above posters for the support.

 

[TahBreezy]

If this suggestion is implemented, I will definitely be donating.

 

[RsProd]

Great to see someone keen about this

 

[Meth9]

I see no reason not to implement this since WU is not accessible to everyone.

Support.

 

[zafire]

I like the idea and kinda wanna see how this goes

 

[ChuckNorrisProdz]

Do you have a way to prove this? If so, I'd personally be more than happy to go about donations using Google. The fees are cheap and it's a very easy procedure.

Do your research.... Its well known you need to hit a certain revenue before you get taxed