Monthly Archives: December 2018

UK Clarifies Tax on CryptoAssets

The United Kingdom’s tax authority issued a paper that sets forth their views on crytocurrencies. It defines crypto-assets but surprisingly says that “HMRC does not consider cryptoassets to be currency or money.” And the tax treatment of cryptoassets will depend … Continue reading

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One Third of Crowdfunders Ask For Medical Debt Assistance

NPR reports that one third of the charity crowdfunding platform GoFundMe’s campaigns are to help people pay for their medical expenses. It has become clear that U.S. citizens are financially insecure about medical debt where nearly half of those surveyed … Continue reading

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Spiro Agnew Crowdfunds Legal Defense

Rachel Maddow shows that it’s happened before. Even crowdfunding for politicians under Justice Department investigation. In the Fall of 1973, W. Clement Stone set up the Spiro Agnew Legal Defense Fund. He organized a nationwide phone bank and was dialing … Continue reading

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Crowfunding Site Refunds Scammed Donations

Remember the heart-warming story of the homeless veteran who gave his last $20 to a middle class woman who needed gas money? She and her boyfriend then went on GoFundMe to crowdfund money for the impoverished good Samaritan, garnering over … Continue reading

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Musician Double Dips Fans

When you’re a celebrity I guess you can keep coming back to your fans for more (please). Neil Young, the former member of the Boomer band Crosby Stills Nash & Young, raised over $6 million from fans on Kickstarter for … Continue reading

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Wall Street Exec Abandons Blockchain

The Wall Street saying is “follow the smart money.” So, what does it mean that Blythe Masters, the highest ranking Wall Street executive who left JP Morgan in 2015 to become the Chief Executive Office of blockchain startup Digital Asset … Continue reading

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Crowdfunds Taxed As Income

So, what is it? If you crowdfund for “donations” on Kickstarter and promise rewards, is the money received income or an “investment.” Tax authorities have recently determined that those funds represent income and you owe tax on it. That’s what … Continue reading

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