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How to Support Audio Science Review

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amirm

amirm

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The closest fit seems to be:
§ 501(c)(7)Social and Recreation Clubs

Getting a low written a century back to apply to modern technology such as a testing forum like ours, may be some challenge.....
 
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In a former life, I was a corporate attorney for 35 years (I’m very very old now). My wife is the CFO/COO of a non-profit. I am not licensed to practice in your state. However, I suggest you look into this and get an hour of legal advice from a tax attorney in Washington. Should run under $500. You’ve already spent the funds to set up an LLC. The cost of overpriced, but fundamentally eye-candy speaker cables.
 
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I doubt it would be that sub-section of the Act, as that relates to charitable and religious organisations. Although maybe Amir can argue this is a religion? ;)
I think ASR would fall under "other" non-profit under a 501(c) sub-section, other than (3);


JSmith
The definition of charity needs to be considered broadly. Amir (via his wholly owned LLC) gives free publicly available advice and does not charge for his assessments which employ both his labor and his expenditure on expensive machinery/testing equipment (capital investment). That is clearly a charitable act.
 

StevenEleven

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While there is no doubt his mission is in the spirit of a non-profit, he’d be giving up a lot of autonomy and adding a lot of extra work, I believe. : ). For example:

 
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While there is no doubt his mission is in the spirit of a non-profit, he’d be giving up a lot of autonomy and adding a lot of extra work, I believe. : ). For example:

As he has already established his LLC , much of the startup work is already done. Being a non-profit permits him to apply for tax exempt grants etc. research or otherwise. (E.g., grant to fund the establishment of specific testing procedures to normalize comparisons of audio equipment) ., with the the added benefit of providing some cover when attacked by the likes of the good ole’ boy from Texas (where the earth actually is flat,) and the guy from Colorado.
 

A Cute Earring

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As he has already established his LLC , much of the startup work is already done. Being a non-profit permits him to apply for tax exempt grants etc. research or otherwise. (E.g., grant to fund the establishment of specific testing procedures to normalize comparisons of audio equipment) ., with the the added benefit of providing some cover when attacked by the likes of the good ole’ boy from Texas (where the earth actually is flat,) and the guy from Colorado.
Agree 100%. My perspective as a retired CFO, including a stint as CFO of a not-for-profit, and past board member of a few as well.
 

pseudoid

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Talk to a tax attorney so he can explain the difference between state non-profit status and federal 501(c) or 501(c)(3) status. That conversation will, of course, cost money which will require more donations.
Would that also mean that ASR contributors can get tax benefits by "donating" every year??
 
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In my humble opinion, If he can obtain non-profit status, he could take tax deductible donations. Needs to check with accountant/attorney. He could issue receipts.. etc.
 

pseudoid

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....he could take tax deductible donations...
Hope it will be from some unbelievable villa, in some sunny island that is specifically designed around audio labs and audio listening auditoriums and rooms... that is a worthy cause I would contribute more for.:cool:
 

AdamG

Proving your point makes it “Science”.
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Hope it will be from some unbelievable villa, in some sunny island that is specifically designed around audio labs and audio listening auditoriums and rooms... that is a worthy cause I would contribute more for.:cool:
I agree, as long as one of the opulently decorated rooms is reserved for the Mods…:cool:

As a bonus. Brad and I could start tracking our hours and apply them as tax deductions for charity…Cha-Ching!!!
 

blueone

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As a bonus. Brad and I could start tracking our hours and apply them as tax deductions for charity…Cha-Ching!!!
Sorry, but the value of your time spent in support of a charity isn't deductible in the US.


If Amir required a special uniform while you're moderating, at least the cost of the uniform would be deductible, but I doubt your underwear is very expensive. :)
 

pseudoid

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IRS 501-3-c. Not for profit charitable organization. All info on IRS web site.
LOL - Recommending someone to an IRS website, is like prescribing [ummmm....] :cool: arsenic for a hang-nail!
 

BDWoody

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If Amir required a special uniform while you're moderating, at least the cost of the uniform would be deductible, but I doubt your underwear is very expensive. :)

Have you priced asbestos underwear and flame suits?
 

AdamG

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Have you priced asbestos underwear and flame suits?
Not to mention therapy and support dogs. We have needs too, other than underwear. Which I don’t wear. I just replace my recliner about once a year! :p
 

Doodski

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Not to mention therapy and support dogs. We have needs too, other than underwear. Which I don’t wear. I just replace my recliner about once a year! :p
Yeah and no petting the support dawg all petting goes to the owner.... :D
 

pseudoid

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I think ASR is going to need a new title category. Since our esteemed PinkPanthers will have to be put on the payroll and they will need titles (medical/pension).
 

blueone

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Have you priced asbestos underwear and flame suits?
Not to mention therapy and support dogs. We have needs too, other than underwear. Which I don’t wear. I just replace my recliner about once a year! :p
I know the vast majority of members appreciate the time you guys put into moderating, but, uh, you two have the upper hand in any disagreement with recalcitrant members. You can delete posts, lock threads, I suspect delete threads, and issue bans at various levels, including permanent bans. Perhaps naive (stupid, IMO) members can flame you a bit, but you have fire extinguishers and lock-outs at your disposal. ;)
 

JSmith

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Not to mention therapy and support dogs.
Ah, that's where you're going wrong... I employ support cats now;

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... one can then claim to be an animal shelter and thus tax exempt status. ;)

I've started cutting down on costs too by exploring robotic support cats with AI... only downside is the charging downtime;

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JSmith
 
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