Is money received for a fundraiser taxable income? I'm a graphic designer. I'm going with my church as a chaperon to a summer camp in a couple months. I'm going to provide some of my graphic design services as a fundraiser. All of the money except for costs of materials or fees if it's paid for online (if someone pays with paypal) will be given to the church to help the kids or chaperons get to the camp. Is that considered income that I have to pay taxes on?
I'm trying to decide on the prices of the graphic design I'm going to be letting the kids advertise for the fundraiser. If I have to take taxes out of that money I want to plan in advance so I can account for that in the final price like I do with my regular graphic design income. I've been looking online but I haven't found an answer to my specific situation. I want to put as much money towards the fundraiser as I can.
Thanks! |