2007-11-02 05:08:54 · 5 answers · asked by yuckymonkey 1 in Business & Finance ➔ Taxes ➔ United States
No but as long as you have documentation of where all the money went, then you're ok. You might have had to pay for advertising, food, gas, etc.
2007-11-02 05:17:04 · answer #1 · answered by Anonymous · 1⤊ 0⤋
i think it depends how you word it. i hear alot of part proceeds to [insert charity here] so i think as long as you dont lie and say 100% proceeds you should be fine. to be honest you saying give proceeds to a non profit sounds like 100% to me
2007-11-02 12:17:52 · answer #2 · answered by phantapantz 2 · 0⤊ 0⤋
Profit (income less expenses) - yes, if you advertise it that way and don't want to be charged with fraud. If you say "some of the profits will be given to..." then you wouldn't have to give them all of it.
2007-11-02 12:56:55 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
I believe whatever you do not spend to host the event has to go to the non-profit. It is suppose to be a charitable act!
2007-11-02 12:17:05 · answer #4 · answered by victoria 3 · 1⤊ 0⤋
minus your expensis yes...keep all ur sales copies
2007-11-02 12:16:45 · answer #5 · answered by Anonymous · 0⤊ 0⤋