Using Kickstarter to fund your homestead? | Page 3 | General Homesteading Discussion | Forums

KVR said
Interesting, what would make sense to me is say you raised 20,000, I would assume you would pay lets say 30 percent taxes on it depending on your tax bracket. So you would be left with 14,000, then if you structured it as a business, you could deduct out of the 14,000. I should call my accountant and she what she says

Here is what I know from years of self emoyment. 

If you bring in 20,000.00 that is gross income. You have to have a registered business liscenced to be able to deduct expenses. You are taxed on anything that is not spent for the business.