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Crowdfunding Scenarios Explained
If, How, and When to Tax Money from Crowdfunding
Delmar C. Gillette
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eBook - ePub
Crowdfunding Scenarios Explained
If, How, and When to Tax Money from Crowdfunding
Delmar C. Gillette
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Crowdfunding Scenarios Explained: If, How, and When to Tax Money from Crowdfunding tackles head on the current version of using a "crowd" to raise funds for a charitable project, a business concept, or an idea for a toy or tool or other device. Most taxpayers are not knowledgeable about if or when the proceeds (income) they receive are taxable. Crowdfunding Scenarios Explained is designed to explain how and why they could be taxable, along with presenting several true-to-life illustrations and related concepts.
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- 2âThe History of Crowdfunding.â The History of Crowdfunding. Startups.co. Web. 16 Jan. 2016. <https://www.fundable.com/crowdfunding101/history-of-crowdfunding>.
- 3Neiss, S., Best, J. W., & Cassady-Dorion, Z. (n.d.). Crowdsourcing versus Crowdfunding: What Is the Difference ⊠Retrieved October 20, 2016, from http://www.dummies.com/personal-finance/investing/crowdfund-investing/crowdsourcing-versus-crowdfunding-what-is-the-difference/
- 4Kazmark, Justin. âKickstarter Before Kickstarter.â Kickstarter. Kickstarter Blog, 18 July 2013. Web. 16 Jan. 2016. <https://www.kickstarter.com/blog/kickstarter-before-kickstarter>.
- 5Ibid.
- 6ibid.
- 7Ibid.
- 8Freedman, David M, and Matthew R Nutting. âA Brief History of Crowdfunding: Including Rewards, Donation, Debt, and Equity Platforms in the USA.â History-of-Crowdfunding.pdf. Financial Poise, 5 Nov. 2015. Web. 16 Jan. 2016. <http://www.freedman-chicago.com/ec4i/History-of-Crowdfunding.pdf>.
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- 11Adams, Susan. âTen of the Best Businesses to Come Out Of Shark Tank.â Forbes, Forbes Magazine, 18 May 2016, http://www.forbes.com/sites/susanadams/2016/03/18/ten-of-the-best-businesses-to-come-out-of-shark-tank/print/.
- 12âChoose Your Funding Type: Can I Keep My Money?â Indiegogo Help Center, https://support.indiegogo.com/hc/en-us/articles/205138007-choose-your-funding-type-can-i-keep-my-money-.
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- 14Briggman, Salvador. âWhat Are the Pros and Cons of Crowdfunding?â Crowdfunding Success Tips What Are the Pros and Cons of Crowdfunding Comments, Crowd Crux, http://www.crowdcrux.com/pros-and-cons-of-crowdfunding/. Blog
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- 18ibid.
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- 21âCrowd Funding Presents a New Area of Tax Planning Expertise.â Crowd Funding Presents a New Area of Tax Planning Expertise. InvestmentNews, 30 Jan. 2013. Web. 16 Jan. 2016. <http://www.investmentnews.com/article/20130130/FREE/130139993/crowdfunding-presents-a-new-area-of-tax-planning-expertise>.
- 22Long, Thomas M. âFederal Tax Issues Associated with âCrowdfundingâ.â AccountingWEB, 16 Dec. 2015, http://www.accountingweb.com/tax/individuals/federal-tax-issues-associated-with-crowdfunding.
- 23Salman. supra.
- 24Mercado, Darla. âCrowd Funding Presents a New Area of Tax Planning Expertise.â Crowd Funding Presents a New Area of Tax Planning Expertise. InvestmentNews, 30 Jan. 2013. Web. 16 Jan. 2016. <http://www.investmentnews.com/article/20130130/FREE/130139993/crowd-funding-presents-a-new-area-of-tax-planning-expertise>.
- 25Duchman, Zalmi. âThe On-Demand Economy Is Here To Stay, And Now Is The Time To Put It To Use For Your Business.â Forbes, Forbes Magazine, 14 July 2015, http://www.forbes.com/sites/zalmiduchman/2015/07/14/the-on-demand-economy-is-here-to-stay-and-now-is-the-time-to-put-it-to-use-for-your-business/#1a5a305443f8.
- 26âSmall Business/Self-Employed Topics.â Sharing Economy Tax Center, US Government Publishing, 19 Sept. 2016, https://www.irs.gov/businesses/small-businesses-self-employed/sharing-economy-tax-center.
- 27www.sharedeconomycpa.com
- 28âCr...