PhoenixFund - page 2
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Can someone make an official logo for letterhead and email it to ph@bestforextools.com? We need to generate receipts that look professional if possible, and I'd like to send a PDF in addition to the email currently sent.
Tax Deductions...
I have no idea what canadian tax law looks like. I know we can generate receipts for direct donations, I don't know if we can generate receipts for IB fees. Asking a Canadian Tax Attorney is highly recommended for qualifying donations as writeoffs in Canada. We provide an email receipt with TaxID #, address, qualifying date, receipt date, the clauses under which we are allowed to receive tax deductible gifts, a list of the applicable IRS Tax Codes, parent company information, etc. A paper receipt can also be created, and I will have the Dun & Bradstreet number for the foundation available later today.
I am very interested to know which countries share Tax Deduction status with the US, if any. I am hoping we don't need to set up nonprofits in all of the major high-tax countries in the world. It probably wouldn't be worth it for most countries, because of the fees and expertise required. Also, the larger and more complex this gets, the more hassle and alarms go off related to money laundering. We have a mountain of paperwork to fill out as soon as the first international transfer for more than $10,000 comes in. PhoenixFund needs to stay transparent and legimate.
Short version: if Canada allows it great, if not there isn't much we can do immediately. In either case we give all of the necessary information.In Canada, it is generally not possible to claim tax deduction for American donations. I presume that it will be similar in most countries.
There are some other ways to do it. It is possible to go true a Canadian organization so the organization donates to the Pheonix Fund. A part of the donation could stay in the Canadian organization or Pheonix Fund could donate back a part of the profit generated by the donation creating a residual contribution to this organization. A WIN WIN situation where a contribution would help both organizations. If someone know a well connected person in an already establish international organization, it could be interesting to partner up with this organization as a pre approved donating way. It would also be an economical way to propulse Phoenix to the international scene and respect Hendrick's will not to mansion the free publicity and synergistic effect ! Hendrick (the original designer) requested that profits from Phoenix be used to change the world.
For Canadians paying taxes to the U.S.A. for revenus generated in the U.S.A., no problem, you can claim the deduction as any American citizen.
In any case, everyone should ask a professional before claiming a deduction.
m6m6: Thank you very much for providing this information. I would love to set up a mutual arrangement with existing nonprofits from around the world.
I posted the Wire information on pf.bestforextools.com and we have the following means of accepting donations:
GoogleCheckout (All Credit Card transactions here please)
Wire Transfer
E-Gold
Paypal (by request)
WebMoney (by request)
Check or Money Order
PhoenixFund has preliminary approval to get credit for IB. I have spent over 45 hours on paperwork so far and a few more hours of work to go but I think it will be worth it. (Individuals as IB are about 1/10 the paperwork as PhoenixFund.)
Once the pending transactions clears, PhoenixFund will have $500.69 in the bank account. Thank you all for the donations! (The 69 cents comes from Google.) Hopefully I can bribe FXDD to let an institution have a mini account and we can start trading soon!
A real website (not a wordpad style reject) is coming soon, promise! I have been busy with the PhoenixFund IB account. I also have 1 year of M1 data from FXDD that I will post soon on the PhoenixFund website for all of our testing.
PhoenixFund TodoList: Logo design, use logo to make formal receipts, make a real website, finish IB paperwork and agreement, post FXDD data, write formal agreement for PhoenixFund donation management, open PhoenixFund FXDD trading account, launch Phoenix demo accounts on EA Host, create a voting/nomination system for people to choose nonprofit projects to benefit from PhoenixFund, website needs end of month bank/broker/fund/donor statements.
Phoenix EA Todo List: market validity over time, chart losses vs trends, Phoenix 6 framework, create a settings file as template for signal optimization vs settings file for trading, write updated manuals explaining new settings and *actually write code*
Any contributions to the above list will receive many blessings, thanks, joy, and good karma!
How I can translate money by means of Web-money?
I recommend you moneybookers.com.
It's at the moment the cheapest way of sending/receiving the money.
Max fee is 0.50EUR no matter how much money do you send.
Receiving is FREE.
Fund/withdraw cost is the cost of local bank transfer.
I use it non-stop.
Moneybookers ROCKS!!
How I can translate money by means of Web-money?
you may exchange WMR or WMZ to egold with no problem with any Russian or American online exchange service. For example: http://www.x-change.ru/
Why I know?
because sometimes I am exchanging WMZ to egold very often.
Just for the people who do not know what the webmoney is:
Webmoney is Russian paypal. Webmoney is not connected with paypal at all but fully connected with Russian tax department.
Contributions jump start
I would like to solicitate everyone out there reading this tread who are benefiting or who will be benefiting from the Phoenix code to contribute generously.
Many of us are not programmers but there are many ways to help this noble cause and the people who are leading this innovating fund. It is important at this stage to capitalize the fund so it starts generating. By opening an account with FXDD thru the Pheonix Fund, you are also contributing as the Fund will receive an "IB" commission on each trade (part of the spread). It will soon be possible to do so.
I know there will be some people who will only take and not give, so be it.
All otters that will proceed and help, many thanks and happy holidays!
I recommend you moneybookers.com.
It's at the moment the cheapest way of sending/receiving the money.
Max fee is 0.50EUR no matter how much money do you send.
Receiving is FREE.
Fund/withdraw cost is the cost of local bank transfer.
I use it non-stop.
Moneybookers ROCKS!!GoogleCheckout is 100% free for another year for credit card processing, so it is our first choice. If someone wishes to make a donation and none of the existing methods is a viable choice for them, we will cater to their needs as necessary. Listing and using dozens of different payment providers is probably a risk.
E-Gold was popular enough with traders and brokers that it made sense to support it, and they have also been around for several years.
I would like to solicitate everyone out there reading this tread who are benefiting or who will be benefiting from the Phoenix code to contribute generously.
Thank you all for your contributions! I feel that my paperwork hell is worthwhile and that the Phoenix Community is really a Community. The current PhoenixFund balance (once the transactions are deposited) is $1000.69
With the exception of #18 I liked these goals as causes to primarily fund. Any reaction? http://www.undp.org/mdg/goallist.shtml
(Goal #18 is poorly phrased and would likely require restructuring of IMF loans.)