Re: another gteta Paypal expereince

[frank bliss <frank@blissnet.com>]

If I get a tax bill as income, I will pay it.  Fortunately, I own a big 
ranch which by definition, for the first few years, is a non-profit org 
and with my personal investments into the ranch this year, the s-corp 
will take a big tax deduction so any income I get, should be balanced 
out. My net expense should be zero.  I will make a bank transfer for 
the actual money exchange.  I don't think there will be any trouble 
with homeland security.  It is not like he is studying theropods. ;-)  
The only other way to do this is to donate all moneys received by me to 
a 501C3 non-profit org which then turns around and transfers the funds 
to Fabio.  If there is a paleontologic non-profit out there willing to 
take this on, please step up and let me know. I would rather do it that 
way.  Heck, the local ladies club, who's building sits on Hell Creek, 
could do it for that fact and just might if no other paleontologic org 
wants the glory.   I also was the secretary of the Geologists of 
Jackson Hole back in the 90's and I bet they would do it.  It is a 
legitimate concern that I have considered already.
Frank Bliss
MS Biostratigraphy
Weston, Wyoming
On May 20, 2005, at 10:37 AM, Jeff Poling wrote:

> At 12:24 PM 5/20/2005, frank bliss wrote:
> > The best way to do this (so far) is to send the checks to me.  I am 
> > taking US checks of any amount made out to me, Frank Bliss sent to my 
> > address at 1107 Parks Rd. Weston Wyoming.  Notation on the bottom 
> > "grant for Antonio".  I have established a bank account in my name in 
> > which I will collect funds.  I will eventually, (when we reach about 
> > 1000 bucks) send Fabio a bank transfer ($50 buck expense) and post an 
> > accounting on the DML with the donor and amount (to keep me honest 
> > ;-)
> > ) and I will make the bank statement available to anyone who wants a 
> > copy.
>
>    Um ... you might want to check with a tax expert and a lawyer.  
> There was a situation a couple years ago where someone did something 
> simular for a breed rescue organization.  The IRS made the collector 
> pay taxes on the money as income, and the guvment was looking into the 
> whole thing as a money laundering scheme.  It was a big time 
> consuming, expensive, and somewhat scary hassle.
>
>    Now throw in the fact you're doing this for someone overseas in an 
> era of heightened terrorism fears.....