Normal
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.
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.
