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    Small Business

    Question

    Is it legal to do a fundraiser to help fund money for a small business like a show or something?

    Say if I wanted to put on a talent show and have people made donations as well as the profit from going to see this show would be used to help fund a small business, like an entertainment company. Is it legal? It wouldn't decrease people's taxes or anything complicated by that. It would be just an individualism doing this. What are the laws regarding this? Do you need a license or pay taxes just for raising money to start a small business?
    a few seconds ago 2 Answers

    Best Answer

    Chosen by Asker
    It is probably legal, but the donations will not be tax deductible. And, yes, YOU will have to pay income taxes and payroll taxes on the profits. Why are you thinking of this as a "fundraising event"? In reality, it is a revenue creating event - a business activity. Best wishes and good luck.
    a few seconds ago

    Other Answers

    • Only if you let them know where the money is going. You can't lie and say it is for the homeless or anything like that.

      by I'm a kitty - 5 hours ago

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