CrowdFunding Taxes Can Be A Stumbling Block For Entrepreneurs | Tax Stories of the Jacksonsville Princess
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CrowdFunding Taxes can be tricky but you need to understand them. In Salt Lake City, designer Jenny Wecker collected pledges in the mount of $42,000 when she used Kickstarter to test market a diaper bag she had created. She received over 300 orders. Previously, she had handmade her product and marketed it on Instagram.



She indicated that she and her husband never considered the tax impact of such success. Apparently, other entrepreneurs are in the same position as they succeed at crowd funding but don’t realize that the IRS considers them to be small businesses with tax responsibilities.
Abraham … Read the rest
The post CrowdFunding Taxes Can Be A Stumbling Block For Entrepreneurs appeared first on 2012 Tax to 2019 Tax.

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