Ask an AI Accountant

Hey there! It's great that you're helping out moms with your online community. However, it's important to note that the tax treatment of the money you receive depends on its nature and how it's used.

If the money you receive is considered a gift, it's generally not taxable to you. However, if it's considered income from a business or a hobby, you'll likely need to report it on your tax return.

As for making the money non-taxable like GoFundMe, it's a bit more complex. GoFundMe itself isn't tax-exempt. The funds raised on the platform are generally considered personal gifts and are not taxed as income, unless the funds are raised for a registered non-profit or charity.

If you want to make the donations to your community tax-deductible for the donors and non-taxable for you, you might consider setting up a registered non-profit organization. This process involves several steps, including filing paperwork with the IRS and your state, and it might take some time.

Remember, tax laws can be complex and every situation is unique, so it's always a good idea to keep detailed records and consider seeking advice from a tax professional.