Say you’re raising money on Kickstarter for an independent film project: Are the proceeds a sort of communal gift-giving or simply a clever source of standard taxable income?
The distinction matters, but nobody seems to know for sure. The U.S. Internal Revenue Service may have an opinion on the matter, but if the agency does, it’s not saying, leaving developers on crowdsourcing platforms such as Kickstarter and Indiegogo in the dark.
To read the full, original article click on this link: Crowdfunding: Income or Gift? IRS Taxes and SEC Regulations Could Hurt Startups And Innovation On Kickstarter And Indiegogo
