Congrats on publishing your book and kudos to you for donating a portion of your proceeds like that. It is always commendable when writers step up to issues that need awareness and to help those in need.
I've honestly considered something like this myself. One of my friends started the year (Seriously, like on January 1st.) finding out her oldest daughter has a rare type of cancer. Since then, her and her friends have been doing fundraising almost nonstop to help pay for treatment. I've considered setting up my book as a fundraising effort for them, like offering all proceeds from it for a month or so to the cause.
I have no idea what repercussions come with it though, what that would mean as far as taxes go. I'm also concerned that some people would claim I was using the chance purely for self-promotion. Then there's the issue of paying out whatever it earned. I would rather drop them the check as soon as the month was over, but payment for ebooks through Kindle takes about two months, so I would have to make sure I had that much already available and I'm afraid it might come to a much more significant sum than I have available.
I've honestly considered something like this myself. One of my friends started the year (Seriously, like on January 1st.) finding out her oldest daughter has a rare type of cancer. Since then, her and her friends have been doing fundraising almost nonstop to help pay for treatment. I've considered setting up my book as a fundraising effort for them, like offering all proceeds from it for a month or so to the cause.
I have no idea what repercussions come with it though, what that would mean as far as taxes go. I'm also concerned that some people would claim I was using the chance purely for self-promotion. Then there's the issue of paying out whatever it earned. I would rather drop them the check as soon as the month was over, but payment for ebooks through Kindle takes about two months, so I would have to make sure I had that much already available and I'm afraid it might come to a much more significant sum than I have available.
Any thoughts on those issues ?