Crowdfunding websites, such as Kickstarter, can help new projects get off the ground. But remember that money raised from crowdfunding isn’t a tax-free windfall. It’s income, and that means that project owners could face some sort of tax liability. Creating a financial projection to estimate your net income will be helpful and may save you money on taxes. Also, if you are investing in a crowdfunding project, buyer beware that Kickstarter takes on no liability if the project owners do not deliver on their promise
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