If you still need emergency help with bills after exploring government and charity programs, GoFundMe can support you in finding financial stability. Setting up a “help pay my bills” campaign is simple. Start a fundraiser today and begin focusing on what matters.
Since no funds go directly to you, it will not impact SSI, SNAP, HUD or many other benefits.
Crowdfunding Can Be Stressful
A crowdfunding campaign is more than just asking for money. It requires marketing, PR, and strategy. It requires being sure that you can deliver whatever you promise to your investors. It also comes with deadlines and the very real chance of failing if you set your goals too high.
The Big Benefits of Crowdfunding
13 Actual Sites That Give You Money
Crowdfunding can help you live without loans
Whether you want to fundraise proactively or you already have student loan debt, GoFundMe student loan assistance makes it easy to raise money right away.
Donations made to GoFundMe fundraisers are usually considered to be personal gifts which, for the most part, aren't taxed as income. ... GoFundMe will not report your donations as income at the end of the year, or issue any tax documents.
We recommend considering the following tips, to create a successful GoFundMe:
GoFundMe, being merely the administrative platform, will not report donations as income or issue any tax documents to donors or donees. ... Although reported on Form 1099-K, these amounts are generally considered personal gifts and would be excludable from a taxpayer's gross income.
Disadvantages
Loan-based crowdfunding means that investors get their money back, usually with interest. And with investment-based crowdfunding, people put money in, usually for a share of your business. So they'll see the value of their shares rise and fall, but you don't need to pay back their investment.
With Regulation Crowdfunding, you can raise $1,070,000 per year*. You can, however, raise an unlimited amount under Regulation D from accredited investors. Wefunder will spin up a free Regulation D campaign for you if you cross $1,070,000, so you can raise more money.
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