727·330·3500    ·    Denise Mensa-Cohen, Enrolled Agent    ·    Office Located in Clearwater, Florida
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Tax Implications of Crowdfunding

Tax Implications of Crowdfunding

Crowdfunding websites such as Kickstarter, GoFundMe, Indiegogo, and Lending Club have become increasingly popular for both individual fundraising and small business owners looking for start-up capital or funding for creative ventures. The upside is that it’s...
Tax Implications of Crowdfunding

Hobby or Business? Why It Matters

Millions of Americans have hobbies such as sewing, woodworking, fishing, gardening, stamp and coin collecting, but when that hobby starts to turn a profit, it might just be considered a business by the IRS. Definition of a Hobby vs. a Business The IRS defines a hobby...
Tax Implications of Crowdfunding

Tips on Tips: Are your Tips Taxable?

Do you work at a hair salon, barber shop, casino, golf course, hotel, or restaurant, or do you drive a taxicab? The tip income you receive as an employee from those services is taxable income. Here are some tips about tips: Tips are taxable. Tips are subject to...

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