Tag Archives: income tax

Crowdfunding Comes With Tax Issues

Bad news, crowdfunders. Tax professionals are saying that the Internal Revenue Service (and probably your friendly State tax collector) believe that all moneys you receive from crowdfunding is taxable income. Guess what? That DVD reward, it’s considered a “sale” and … Continue reading

Posted in accredited investor, balance, Charity, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, Funding Portals, Investments, Jobs, Legislative Intent, SEC, Small Business, technology, VC, Venture Capital, Wall Street | Tagged , , , , , , , , , , , , , , , , , | Leave a comment

Crowdfunding Tax Matters*

Not fair? Wisebread notes that crowdfunding campaigns for charitable causes could result in the web portal filing an IRS Form 1099 that would indicate that you received income during the year. The site suggests that if you do that “make … Continue reading

Posted in accredited investor, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Department of the Treasury, Funding Portals, Investments, Jobs, Legislative Intent, SEC, Uncategorized, VC, Venture Capital, Wall Street | Tagged , , , , , , , , , , , , , , , , , , , , | Leave a comment

Crowdfunding Tax

States are now hip to collecting sales tax on rewards-based crowdfunding. Washington State has issued a release that says that “the project creator is required to collect sales tax on donations if you provide retail services (such as meals), digital … Continue reading

Posted in Charity, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, Funding Portals, Investments, Jobs, Legislative Intent, SEC, Small Business, Tax, Venture Capital | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Gift From the Cliff

Congress blessed the film industry, particularly smaller producers, with a fiscal cliff gift by extending the tax deduction on production costs incurred in the US under Sec. 181 of the Internal Revenue Code. So, now, crowdfunders can deduct that part … Continue reading

Posted in Congress, Crowd Fund Act, Crowd Fund Act of 2012, Film, Funding Portals, Investments, Jobs, SEC, Small Business, Wall Street | Tagged , , , , , , , , , , , , , , , , , | Leave a comment

Get Paid to Invest!

Crowd funders can get paid to invest! Almost half the states in the U.S. have some form of tax credit for “angel” investors. For example, Connecticut will give you a 25% credit up to $250,000 (ie, a direct decrease in … Continue reading

Posted in Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Film, Funding Portals, Investments, SEC, Tax, Venture Capital | Tagged , , , , , , , , , , , , , | Leave a comment