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Yes and no.
It depends on a few things: Is the charity donation tax deductible? Who is getting the free jewelry? How much are the sales? What are the expenses for the fundraiser? What self-employment taxes will I owe on the income? For a tax deductible donation where I am getting the free jewelry and sales are at least $1000 with 6 orders minimum, I will let the organizer get one or two of the half priced items, and we can raffle off the third. I take the free jewelry in lieu of my commission (which is really a loss since I could have taken the none and purchased 30% more jewelry). Then I donate my full commission after documented expenses. Examples include supplies, shipping, mileage, tax. If I expect to have a net profit this year, I will also deduct self-employment taxes. I tell my fundraiser folks to expect about 25% after expenses. I also prefer to make the donation at least 30 to 60 days after the event, after any returns and exchanges have been handled. If that is not possible, I try to speak to every customer personally to ensure they are satisfied and let them know that once I make the donation, any return will be refunded less the amount their purchase generated for the charity. (If this ever happens, you need to do a manual return to tell Silpada the right amount for them to refund.) If the coordinator wants free jewelry, I will split the jewelry and give 15% commission and encourage her to sell raffle tickets for a gift certificate and give 30% on those gift certificate purchases. Hope that helps! |
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