Donations for GAC and family

[TeamMorris]

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!!

[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.

[Redsland]

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.

[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.

[Chip R]

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...

[Redsland]

Had RBA already passed out by then?

[KittyDuran]

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).

[Heath]

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.

[RBA]

Originally Posted by Redsland

Had RBA already passed out by then?

I was taking a nap. Thank you.

[Redsland]

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.

[TeamCasey]

Pizza stained boxers.

[TeamMorris]

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!!!

[OldRightHander]

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.

[traderumor]

Yea, this is a gift.

[TeamBoone]

If people had to claim gifts such as these, every one would have to claim all their Christmas gifts as income.

If someone honestly thinks this is a problem, I have a very good friend who is an IRS auditor. Let me know.