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The particular tax consequences of a donor's charitable contribution depends on the type of contribution that he makes. A taxpayer may contribute services, cash, or property to a charity. There are a number of traps, especially that donations of short-term capital gains are generally not tax deductible.
Patreon (/ ˈ p eɪ t r i ɒ n /, /-ə n /) is a monetization platform operated by Patreon, Inc., that provides business tools for content creators to run a subscription service and sell digital products. It helps artists and other creators earn a recurring income by providing rewards and perks to its subscribers.
Liberapay has been compared to Patreon. [11] Unlike other crowdfunding platforms, Liberapay does not allow creators to reward their patrons. This difference in the nature of the transactions has tax implications. For example, Patreon collects VAT on all payments made from inside the European Union [12] whereas Liberapay does not. [13]
The rate of the tax is measured as the Electronic Single Side Rate (ESSR). [18] The ESSR is the tax rate charged to each individual. If the ESSR were 1%, then both parties to a transaction would pay the 1% tax. If a person were transferring money from one account to another, each account would pay a rate of 1%.
Section 409A was enacted, in part, in response to the practice of Enron executives accelerating the payments under their deferred compensation plans in order to access the money before the company went bankrupt, and also in part in response to a history of perceived tax-timing abuse due to limited enforcement of the constructive receipt tax ...
Tax noncompliance is a range of activities that are unfavorable to a government's tax system. This may include tax avoidance, which is tax reduction by legal means, and tax evasion which is the illegal non-payment of tax liabilities. [1] The use of the term "noncompliance" is used differently by different authors. [2]
The 1998 Internet Tax Freedom Act is a United States law authored by Representative Christopher Cox and Senator Ron Wyden that established national policy regarding federal and state taxation of the internet, based upon its unique characteristics as a mode of interstate and global commerce uniquely susceptible to multiple and discriminatory taxation.
Ryan North (Dinosaur Comics) has called the Patreon subscription platform the "most disruptive (in a good way)" service that allows webcomic creators to collect money directly from their readers. KC Green and Winston Rowntree (Subnormality) credit Patreon for allowing them to work on webcomics full-time. According to a spokesperson for Patreon ...