notworksafe
Member
this page is just full of shitty opinions
huh, new page so now i look stupid but pizza deserves it anyway.
huh, new page so now i look stupid but pizza deserves it anyway.
-
Hey, guest user. Hope you're enjoying NeoGAF! Have you considered registering for an account? Come join us and add your take to the daily discourse.
Fighting Game Headquarters |eSports| 4444 Life
- Thread starter notworksafe
- Start date
Shouta
Member
Well, jeez.
Kalamari
Member
MiniBossBattle
Member
That's what the wifey told me about the donation. At least with my kids school donation or NPR (yes I am the olds) it offsets what we owe in tax time for bonuses and whatnot. The fact you don't get any receipt from MAW probably means evo collects it and they can use it to offset what they owe Uncle Sam.
But whatever, mahvel amirite?!
But whatever, mahvel amirite?!
I mean... do you guys REALLY think MrWiz and co care that much about Breast cancer and Make a Wish foundation? Because if they did then they would be taking half the entrant money from games like SFV and Smash, putting that towards charity too.
The only surprising thing is that they don't get more flak over this from the general media. Just a little bit of investigative and research work would get to the bottom of it. All criticism and logical discussion around this is barricaded behind "but it's for charity".
The only surprising thing is that they don't get more flak over this from the general media. Just a little bit of investigative and research work would get to the bottom of it. All criticism and logical discussion around this is barricaded behind "but it's for charity".
notworksafe
Member
wow i was right about the opinions here and i didn't even know it at the time. my prediction abilities remain unquestioned
Youre right, these marvel neanderthals should have donated directly
Everyone wins in that situation
notworksafe
Member
yall probably right. im just gonna do a chargeback. those kids don't need the money if it's going through wizard. word on the street is he actually is pro-cancer.
though my $25 could help pay for John Cena to visit someone. that alone is a game changer.
though my $25 could help pay for John Cena to visit someone. that alone is a game changer.
nws was cyclops the whole time
notworksafe
Member
mods, please pin this post tia
MiniBossBattle
Member
In the end, charity gets money, evo can offset thier cost, and we get marvel. I am okay with that. It's not going into the Mr.Wiz pizza fund.
Four times at best.
What? The donation money is not going to a prize pot for either Marvel or Pokken. That is separate money from EVO itself.
Is this confirmed? I didn't see anything about that, I just assumed that part of the donation money went to the prize pot/tournament.
JeTmAn81
Member
It would be pretty unethical for them to provide pot bonuses from charity funds.
This SFV anniversary video had me cracking up!
The part where he gets hit by the door coming down... LOL!
The part where he gets hit by the door coming down... LOL!
A Pretty Panda
fuckin' called it, man
They said so you crackpot
RECIEPPPPPTTTSS
Professor Beef
Banned
Pretty sure using donation money as something other than a donation would open them up to all kinds of lawsuits, if it isn't already illegal to do. Nobody wants to bring that thunder down on themselves, let alone Wiz and the Cannons because that'd mean the end of one of the biggest tournaments of the year.
But of course you'd rather make dumbass assumptions because that's the only thing theoryfighters are good at.
Shouta
Member
That would be bad because that entrant money isn't going towards Evo to use as they like but towards the winner of the tournament, lol.
But yeah, a ton of criticism and proper discussion would get barricaded behind that argument. Pretty unfortunate.
MikeBreezy92
Member
Lmao beef
sixteen-bit
Member
So do you care or don't care?
I would've cared more during the 2013 donation drive, now it's like whatever. I don't really care that much about it but I do feel that there are better ways to raise money for charity than to pit communities against each other.
I sincerely hope we don't get another one of these again. If the FGC really wants to help out charity then someone should take one for the team and organize an event where all profits and proceeds go to charity.
To my limited knowledge (I'm not a tax attorney or anything), but I don't think MrWizard/Triple Perfect (the company Evo is organized under) can get a "free" tax write-off from the Evo donation drive. They would either need to book the income from the donation drives as income (which would normally be taxable) and then claim a tax credit as a charitable donation (so the best it would do is offset) or Generosity is acting as a pass-through and the company is never touching the funds to begin with (which would then make the tax liability and credit something Generosity would handle).
That's not to say that they're doing solely out of of the goodness of their hearts (the PR they are generating from communities pushing the event and from the charity drive has a very real value and comes at pretty much no expense), but I don't think they're getting a massive tax write-off for free out of it.
Edit: I don't think this was a great way to go about determining the final game at Evo and I really don't want to see communities fighting each other (although I think Evo themselves pitching in 10k to Pokken pots helped stem a lot of that), but that's a whole another issue.
That's not to say that they're doing solely out of of the goodness of their hearts (the PR they are generating from communities pushing the event and from the charity drive has a very real value and comes at pretty much no expense), but I don't think they're getting a massive tax write-off for free out of it.
Edit: I don't think this was a great way to go about determining the final game at Evo and I really don't want to see communities fighting each other (although I think Evo themselves pitching in 10k to Pokken pots helped stem a lot of that), but that's a whole another issue.
Shouta
Member
It was created on Generosity in Evo's name, wasn't it? So it'd go to Evo and not straight to MAW in that case unless there was some sort of thing behind the scenes.
I was always under the assumption money given through sites like Generosity and GoFundMe were considered gifts and not income, hence why folks aren't taxed on it when someone individually does it. If that works the same for the donation drive, then they donated to a charity themselves, it wouldn't offset but come out in their favor. Maybe there's a different tax rule for when organizations do it like this?
Edit: Oh shit, I just remembered something. I know why they limited it to 10,000 dollars from any single person. That's close to the upper limit a person can give as a gift to someone and that gift won't be taxed as a result.
Shouta
Member
Just to confirm, here's the IRS page on this fact, lol.
https://www.irs.gov/businesses/smal...oyed/frequently-asked-questions-on-gift-taxes
For an easier summary - https://en.wikipedia.org/wiki/Gift_tax_in_the_United_States
Maybe this is why Marvel was put into the pool of options as the 9th game instead of getting a spot like it has every year up until now.
Kalamari
Member
If Evo is a flow through entity, such as a Partnership, LLC, or Scorp, a portion of the charitable contribution flows through to each partner, member, or shareholder. To take advantage of the charitable contribution however, they will need to itemize their deductions rather than use the standard deduction, so they will need to overcome the threshold of the standard deduction to get any benefit.
Shouta's right, for 2016 the annual gift exclusion is $14,000.
Basically, it's a free deduction on their taxes if they can overcome the standard deduction threshold, $6300 if filing single and $12600 if filing jointly. (in 2016)
Shouta's right, for 2016 the annual gift exclusion is $14,000.
Basically, it's a free deduction on their taxes if they can overcome the standard deduction threshold, $6300 if filing single and $12600 if filing jointly. (in 2016)
FadedRevolution
Member
Shouta
Member
Hmm, in that case wouldn't they meet the threshold with how much was raised, even if it's just a portion? The limit was probably put in place to avoid the paperwork associated if hit the annual gift exclusion.
I don't think donations to the drive were tax deductible. Generosity doesn't provide receipts to fundraisers for nonprofits and they were under Evo's name as I recall.
Kalamari
Member
Probably, I don't know how the donations would be split or the total amount raised, but if it's split evenly among only a handful of people then they'll probably get quite a large benefit.
Even Fchamp couldn't come up with something like this.
irfaanator
Banned
Need a new thread on TOs making hand over fist on tournaments
notworksafe
Member
New Mexico already did. Twice. Raised $10k for charity and got a law passed in our state to require heart screenings for all newborns.
Kinda like notworksafe has done a few times now?
Yeah and that's great stuff. I have also run events here and I donate all to charity. It's not as large scale but I do with what I have.
notworksafe
Member
i'll need to see your taxes then
WHERE THE FUCK ARE THE RECIEPTS
SOUNDS LIKE THEY WERE ANTI SICK BABIES
Sure as soon as Donald Trump and MrWiz release their.