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Thread: Donations for GAC and family

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  1. #1
    Future Reds All Star TeamMorris's Avatar
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    Donations for GAC and family

    As many of you have heard, a long time Redszone member and friend of many has lost his home in the past 24 hours due to a fire. All is lost! He and his family were left with nothing but the clothes on their back but the good news is that they are all safe!

    Many people have shown interest in helping GAC and his family. If interested in sending a donation through paypal, check, money order or give a gift card please PM me. I will give you my paypal or snail mail address. I will be sure all gets to him!

    Any little bit will help! I will not say who gave what but will include a card from RZ and any well wishes you may have for him and his family!

    GAC...Best wishes to you and the family! You are in our thoughts!! Please don't fight us. You have always been there when others were in need...It's your turn now!!

  2. #2
    CELEBRATION TIME RBA's Avatar
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    Re: Donations for GAC and family

    Any IRS/Finanial Advisors? What's the best way to donate without GAC having an impact on his income tax too much? I realize the loss of his house and other personnel effects is probably a big deduction right there and that may off set many cash denotations. Are Wal-Mart gift cards considered income? Are my questions valid? Sorry if they seem like they are inappropiate.

    Also, I don't have too much in the way of Reds memorbilla, but I was thinking if people donated one thing from their collections like a baseball card or bobblehead doll, etc it might be a good way to get GAC's collection started again. I will donate my Tony Perez bobblehead doll. TM pm me with the info to send it. Thanks.

  3. #3
    You know his story Redsland's Avatar
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    Re: Donations for GAC and family

    Quote Originally Posted by RBA
    I don't have too much in the way of Reds memorbilla, but I was thinking if people donated one thing from their collections like a baseball card or bobblehead doll, etc it might be a good way to get GAC's collection started again.
    He can have my Danny Graves bobblehead. :

    Seriously, I think he'd get a kick out of it, given the sign we hoisted in '04.
    Makes all the routine posts.

  4. #4
    Big Red Machine RedsBaron's Avatar
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    Re: Donations for GAC and family

    I don't believe that there will be any tax consequences unless someone gives GAC more than $11,000-in that event, the giver of the gift may owe federal gift tax.
    That said, I would welcome the input of any CPAs or lawyers who specialize in tax work.
    "Hey...Dad. Wanna Have A Catch?" Kevin Costner in "Field Of Dreams."

  5. #5
    Resident optimist OldRightHander's Avatar
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    Re: Donations for GAC and family

    Quote Originally Posted by RedsBaron
    I don't believe that there will be any tax consequences unless someone gives GAC more than $11,000-in that event, the giver of the gift may owe federal gift tax.
    That said, I would welcome the input of any CPAs or lawyers who specialize in tax work.
    I'm not a CPA, so my expertise isn't in the area of taxes, but I think you're right on the $11K figure. I don't think gift cards and the like would present any problems there.

  6. #6
    Unsolicited Opinions traderumor's Avatar
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    Re: Donations for GAC and family

    Yea, this is a gift.
    Can't win with 'em

    Can't win without 'em

  7. #7
    Rally Onion! Chip R's Avatar
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    Re: Donations for GAC and family

    Quote Originally Posted by Redsland
    He can have my Danny Graves bobblehead. :

    Seriously, I think he'd get a kick out of it, given the sign we hoisted in '04.
    Which, for the uninitiated was...
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    The Rally Onion wants 150 fans before Opening Day.

    http://www.facebook.com/pages/Rally-...24872650873160

  8. #8
    Waiting for a tour/album KittyDuran's Avatar
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    Re: Donations for GAC and family

    Quote Originally Posted by RBA
    Any IRS/Finanial Advisors? What's the best way to donate without GAC having an impact on his income tax too much? I realize the loss of his house and other personnel effects is probably a big deduction right there and that may off set many cash denotations. Are Wal-Mart gift cards considered income? Are my questions valid? Sorry if they seem like they are inappropiate.

    Also, I don't have too much in the way of Reds memorbilla, but I was thinking if people donated one thing from their collections like a baseball card or bobblehead doll, etc it might be a good way to get GAC's collection started again. I will donate my Tony Perez bobblehead doll. TM pm me with the info to send it. Thanks.
    That's a good idea for the memorbilla... I cannot really give too much money right now (car problems).
    2014 Reds record when I'm attending: 23-18 - FINAL
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  9. #9
    "Let's Roll" TeamBoone's Avatar
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    Re: Donations for GAC and family

    Quote Originally Posted by RBA
    Any IRS/Finanial Advisors? What's the best way to donate without GAC having an impact on his income tax too much? I realize the loss of his house and other personnel effects is probably a big deduction right there and that may off set many cash denotations. Are Wal-Mart gift cards considered income? Are my questions valid? Sorry if they seem like they are inappropiate.
    I have a very good friend who is a tax auditor for the IRS. I asked your question.

    Her response is short but answers the question: "The limit for cash gifts before any gift tax kicks in is $11,000 so your friend is okay. He may be able to claim a casualty loss on 2006 taxes if his insurance doesn't cover all of his loss."
    "Enjoy this Reds fans, you are watching a legend grow up before your very eyes" ... DoogMinAmo on Adam Dunn

  10. #10
    You know his story Redsland's Avatar
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    Re: Donations for GAC and family

    Had RBA already passed out by then?

    Makes all the routine posts.

  11. #11
    CELEBRATION TIME RBA's Avatar
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    Re: Donations for GAC and family

    Quote Originally Posted by Redsland
    Had RBA already passed out by then?

    I was taking a nap. Thank you.

  12. #12
    This one's for you Edd Heath's Avatar
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    Re: Donations for GAC and family

    I'm willing to donate some Reds stuff that I have. I have a few things I can give GAC.

    On edit - I don't know GAC as well as you guys do - what was his favorite thing to collect.
    Some people play baseball. Baseball plays Jay Bruce.

  13. #13
    You know his story Redsland's Avatar
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    Re: Donations for GAC and family

    Quote Originally Posted by Heath
    I don't know GAC as well as you guys do - what was his favorite thing to collect.
    Empty beer cans.

    Makes all the routine posts.

  14. #14
    Member TeamCasey's Avatar
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    Re: Donations for GAC and family

    Pizza stained boxers.

  15. #15
    Future Reds All Star TeamMorris's Avatar
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    Re: Donations for GAC and family

    Great ideas!! I have already put some pictures together for him on a disk and am working on another project also (shhhhhhh). Many he can get back here on RZ but many he can't that I have sent him over the years because I never posted them. If I posted every picture I took we would really have space problems

    I think he should have his PO box soon and I am sure he will be glad to give it to those who want it (or allow me to do so, he has enough to do) but I would really rather not give out his brothers address without asking his permission first. Anyone in touch with him via phone...could you ask? I don't have his cell number and not sure when he will be able to post again.

    I know he would be thrilled with anything you guys can give him to start a new collection!!!


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