LC MotorSports

New Shop for LC Motorsports

Crowd funding campaign is a success... but not in the manner we planned.



Please follow the link attached to visit our Indiegogo Crowdfunding campaign.

http://igg.me/at/c-56w0B8C8o/x/10948148


While attending the 3 day Zone 1 48 Hrs HPDE event this past weekend, Luda and I were amazed with the out pouring of support and generosity of all our friends and customers from within PCA.

So, many of you stopped over to express your heartfelt words of sorrow over the loss of my father and extended your generous assistance in making our move into a new build come closer to a reality.

What surprised us was that each of you wished to donate directly via cash, checks and (which I did not consider) PayPal payments. The PayPal option makes complete sense once it was suggested to us by numerous customers.

So, if wish to explore the PayPal option please contact us, we will then email a invoice

OR

You can send contributions to: LC Motorsports via our PayPal account at Sales@merlinmfgusa.com



All level of contributions are appreciated. Donations as low as $5.00 will place us on our path to achieving our goal of the new shop.



Should you contribute to our company growth / relocation you can enjoy several perks as members of LC MOTORPSORTS TEAM!


Please assist us in achieving our goal


See you soon,
Luda & Chris Whaley
315-409-3500
sales@merlinmfgusa.com

winders

I am pretty sure that you need to donate to a 501(c)(3) organization for you to claim a tax deduction. Are you a 501(c)(3) organization which means you are a non-profit organization?

CWhaley

Thank you for all your helpfull information.

ExMB

+1

IMHO as well

LC MotorSports

Again, we appreciate all the help & information as each and everyone adheres to the letter of the tax law so stringently each tax season.

winders

Wow! You really need to check that attitude at the door.

All I did mention that you needed to donate to a 501(c)(3) organization to get a valid tax deduction and then ask if you were such an organization.

I suspect you are not which means any donation would not be tax deductible. I only have valid tax deductions on my tax forms. It now sounds like you know the donations are not tax deductible yet promote them as such anyway.

Again, wow!

LC MotorSports

No attitude needs to be checked at the door here as none is being tossed around.

I appreciate all your clarifications and corrected the post as needed.

So, many people do donate small amounts to none 501(c)(3) organizations and claim the deduction on their returns under $500.00 "Gifts to Charities"... That is all I am stating.

Again, I appreciate all your input and wish you a great day.

Rick

Can you explain how this could be legally claimed as a charitable donation? LC Motorsports is not listed in the IRS Pub 78 database as an organization eligible to receive tax-deductible donations. Surely you're not suggesting that Rennlist members submit false information on a tax return.

blackbull

Tax status as an investor???

ExMB

How is this legal and defensible under an audit? Are you hinting at a "donation" amount?

LC MotorSports

It appears that their has been some confusion with the start of this thread. Please allow me the chance to put our fate and faith in your hands...

We have been a strong supporter of PCA, and other groups for over a decade and are asking for help? Their has been no effort to promote or suggest misconduct.... We were and are speaking from the heart and have not been as elegant as we should have been in posting the first time. So, please read below for some of the details.

We lost our building due to my father's death last October.....

Then we found out that he did not leave a will... which he had told me numerous times that everything was arranged... fate kicked us even harder when my mother (whom I do not have a good relationship with) took over as executor, immediately locking us out of the building while her legal consul tied up the assets and attempted to take over the company.

She believed my father was part of the corporation and filed suites to seize the machines, cars and all the assets. After 5 months of Lawyers, Judges and thousands (Thousands) of dollars, we proved that under UCC article 9, she was attempting to illegally transfer company assets to the estate.

With all the legal fees we are left short on funds to purchase a new building.

Our goal is too offer each supporter at what ever level a great deal for their efforts.

Please open the link in the original post to read the full details.

From there you can make your determination on how or if you feel strongly about lending your support to us.

All the best
Chris

Martin S.

For all us big spenders that plan to send $25 or less, or even $100 or less, why worry about a tax write off? You are just helping some folks who were kicked to the floor. I'd rather give a few bucks here, than to some other "charities" where 90%+ is skimmed off the top.

I sent in a small contribution, won't ever use their shop...2,500 miles is the reason keeping me back

If 600 Rennlisters, no that's 599, sent in $25.00 the fund would reach its goal. I wish LC well on this...I am afraid it may be a tough crowd for a charity appeal, could be wrong though.

winders

Martin,

This was never about the donation or the donation amount. It was all about the tax status of the donation.

The OP, in the original version of his post, said you could claim the donation as a charitable contribution (i.e., a write off) on your taxes. I asked how one could do this if his business was not a 501(c)(3) organization. The responses were, shall we say, interesting.

Well, one can't legally write off the donation. I was making sure the folks from here that were donating got the right information for their tax returns.

Of course, if you had actually thought about what I wrote, you would have seen that.

LC MotorSports

Thank you for your kind donation and words or encouragement

LC MotorSports

We want to thank everyone who have shown their kindness to us. So many have contacted us and shown Luda and I how much those of you really do care.

While the crowd funding page is not reflective of where we are.... The PayPal donations are... We are well on our way to reaching our goal.