According to a July 2011 article by ASCAP contributor Chris Castle, Kickstarter monies are likely to be taxable for many artists.
Castle's analysis starts with the presumption that you aren't a non-profit and that you have entered into some kind of contract with your contributors, like, "If you give us money, we'll give you X ." Castle believes that as a result of entering into this contract, you may owe self-employment tax, sales tax, and other taxes.
Castle's analysis starts with the presumption that you aren't a non-profit and that you have entered into some kind of contract with your contributors, like, "If you give us money, we'll give you X ." Castle believes that as a result of entering into this contract, you may owe self-employment tax, sales tax, and other taxes.
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