Kickstarter tax discussion
Kim Hunter last edited by
Tax discussion on the Kickstarter podcast - The tax deduction that allows you to take a big expense all in one year is called Section 179. If you don't make enough that year, you can push part of the expense to following years and try to deduct it during a year with bigger income. I'm not sure if you can back it up to a previous year but things like this are done in agriculture to even up bad years and good years.
I remember talking with my tax preparer about this.
The context there was that you can push off business startup costs until a year when you actually owe taxes on profit.
As I am way past that time I sort of locked it away as something to let new illustrators know about when making the school to professional transition.
Thanks for the reminder!