The Dublin Music Boosters have been working to find ways to help families fund-raise. One new option this year will enable students to receive direct financial benefit. Not all fundraisers will qualify, but for those that do, and for those parents and students who wish to participate, a ledger will be created in the name of the student to track their funds.
Direct financial benefit may result in a tax liability to the participating student. The Dublin Music Boosters will be issuing IRS Form 1099 to document monies earned by the student who chooses to participate in the fundraisers where direct financial benefit is possible. This income reporting form is only issued when a student earns $600 or more during a calendar year through the direct financial benefit opportunities of the Dublin Music Boosters. Most students are not expected to earn $600 or more. Children are likely to have little or no tax liability; and generally have lower tax rates than their parents. As with most taxes, they will be a function of the dollar amount earned and the students other sources of income.
The Dublin Music Boosters have been working with local CPAs to find ways that both help families fund-raise and keep the Dublin Music Boosters in compliance with applicable tax laws. The Dublin Music Boosters are not able to provide tax advice to specific individuals: Please consult your tax preparer if you have further questions about tax ramifications.
Only those parents who fill out a Form W-9 and the corresponding permission paperwork will be considered participating in the direct financial benefit aspect of various Dublin Music Booster fundraisers as they arise. Additional details will be available in the permission packet.
Currently, we have two fundraisers scheduled for 2014-2015. The first is our annual Mattress Sale held on May 24, 2014. For every sale that is verified in your student’s name, $50 will be used towards the trip or could also be used for band camp. The second is our on-going “scrip” sale in which gift cards can be purchased to be used at various locations and a portion of the money spent on gift cards can be applied to the trip or band camp. More information to follow!
Director, Dublin Scioto Bands
Director, Dublin Scioto Orchestras
Director, Irish Fiddle Fetish
Dublin Scioto High School