Official Twilight Zone News

[Sean DonCarlos]

Don't forget that Kickstarter will take 10% of all funds raised as their fee and after that FarSight still have to pay taxes on the remainder.

I think this may have been why the kickstarter goal was $55,000 and not $50,000.

And does this count as normal income? I know our donations aren't tax-deductible since FarSight isn't a 501(c)3, but this seems more like a bunch of small gifts than regular income. And if it's not, do they get to deduct for tax purposes the value of the rewards given to backers? I'm not an accountant or involved in finance at all, so I really have no idea.

 

[Sir_LANs-a-lot]

Good question, I have no idea!

 

[brakel]

Corporate taxes are complicated but for the most part corporations only pay taxes on profits. So for now the kickstarter funds are just income like the revenue that they get from the sale of TPA plus DLC. Whether they pay any taxes will be based on any profit they might post at end of their tax year.

 

[Dutch Pinball ball]

10% for kickstarter????

Clever site.

 

[Jeff Strong]

Congrats gentlemen, we did it!

 

[bavelb]

10% for kickstarter????

Clever site.

Amazon grabs a piece as well. Not sure if this comes on top of the 10% or incorporated in the 10% though.

back on topic:
Twilight Zone will be made people....hurrah!!!!

 

[karl]

Regarding kickstarter fees: Kickstarter get's 5% and amazon 3-5%. Here is the link: http://www.kickstarter.com/help/faq/creators#Fees . Hope this helps. Really looking forward to TZ and hopefully TNG soon after that.

 

[ND3G]

Don't forget that Kickstarter will take 10% of all funds raised as their fee and after that FarSight still have to pay taxes on the remainder.

Also, some of the pledges will not go through successfully....

 

[gsxrboy]

Well done to all of us contributors

 

[Captain Rumwood]

Congrats gentlemen, we did it!

YESSSS!!!! YESSSS!!! YESSSS!!!! YESSSS!!!!

 

[Gord Lacey]

Don't forget that Kickstarter will take 10% of all funds raised as their fee and after that FarSight still have to pay taxes on the remainder.

Well, they won't really have to pay taxes on it because it would be written off by the expenditure of the contract. $55k in, $55k out equals $0.

 

[Supermans]

Finished!!!

I understand that the extra 22,499 raised will go towards the Star Trek Kickstarter? So that kickerstarter target should be 32,501? We should easily reach that then as we had 2300 odd backers for Twilight Zone so id guess 90% of them will back Star Trek aswell...i know i will.

My favorite table of all time is Star Trek TNG I would help kickstart it if that is the next goal.