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my best friend of 38 years lost his home. Him and his family are staying with us for the foreseeable future.
While he was insured for the building, he was not for content. Lost everything basically.
While i know he would never do on own, i am planning on raising some funds for his family to start to put their life back together.
My question is since he nor I are a "non-profit" , would money raised and donated to him be considered income? I dont want to put any additional monetary burden on them if i dont have to.
i just dont know how that works.
thanks.
While he was insured for the building, he was not for content. Lost everything basically.
While i know he would never do on own, i am planning on raising some funds for his family to start to put their life back together.
My question is since he nor I are a "non-profit" , would money raised and donated to him be considered income? I dont want to put any additional monetary burden on them if i dont have to.
i just dont know how that works.
thanks.