Blogs

Make sure you have all the right information on your tickets

Make a checklist of what a participant will need to know Last time, we looked at the building blocks of raffle tickets that wow: quality perforated paper, brilliant ink and paper colors and raffle ticket software that offers a template so you can design and print your own tickets. Now let’s not forget the nuts and bolts: the information you simply must have for a successful event. It is very important for a successful raffle to have the right information

Blogs

Raffle prizes, winnings and taxes – Part 2

How to figure the fair market value for tax reporting Last time, we looked at how to determine whether a raffle prize must be reported to the IRS. Now let’s look at some of the perhaps lesser-known or less-understood aspects of income tax law as it relates to raffle prizes, winnings and taxes. Backup withholding applies to raffle prizes, to the tune of 28% of the total proceeds, if the prize is otherwise subject to reporting (that is, the amount of

Blogs

‘Tis the Season for Charitable Contributions

As this holiday season rapidly approaches, you might want to get your charitable efforts well underway before your schedule spins out of control ... again ... like it does every year. So right now, before bad weather sets in and everybody heads south for the season, it's the perfect time to catch local businesspeople and ask for donations of cash or products for your next raffle or drawing. With Thanksgiving still a couple of weeks away, you'll be able
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