Tuesday, 14 August 2018

DAILY TAX TIP: Crowdfunding Income is Taxable.

DAILY TAX TIP: 

Crowdfunding Income is Taxable. If you’re looking to raise some cash in order to launch a new product, fund a specific project, or finance the growth of your business, it might be that you’re considering using a crowdfunding site such as Kickstarter or Indiegogo. Whilst any income generated is taxable, you should be able to offset any business expenditure funded by the donations to leave the income effectively tax neutral.