Alliance Chat 5

Alliance Chat, where no topic has gone before!

Welcome to the Alliance Chat! This podcast will be about various topics in not only the comic industry, but nearly anything that effects creators of all types. And sometimes just plain old life issues; like stinky feet or that Drezz pees in pools.

In this podcast, we chat about: Crowd sourcing websites like Kickstarter and IndiGoGo.  The pros and cons of both site.

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  1. Good episode!

    Having recently completed a successful Kickstarter campaign ourselves, I can tell you that between fees, taxes, etc. that the expenses really add up quickly. I wonder how many successfully funded creatives realize this when setting a goal amount.

    I imagine those $50,000+ Kickstarters are a logistical nightmare for the right-brained artist.

  2. As for taxes, my understanding is that it’s based on when you pay your taxes and could be a danger of starting a Kickstarter around the end of the year. For example, let’s say your Kickstarter closes on December 15th… That means ALL of that money would be taxed because you have yet to spend any of it on printing, shipping, etc. unless you magically get it printed and shipped before December 31st (a near impossibility). The next year, you could take a massive loss on the year because all of that expenditures would be considered part of the following fiscal year but to counter that, you’d better make a lot of money because you can’t go below zero dollars in tax.

    Of course, business can work differently, as they can declare fiscal year end at any point of the year.

    • Yes, businesses have a more flexible way of dealing with profits and losses, which is why I encourage independent artists to set themselves up as a business and hire an accountant. Because getting $50K at the end of the year for a personal income would be disastrous as you’d pay a TON of taxes. But, depending on the situation, you can take a loss the following year as you write off the printing expenses.

      So if you’re considering that large of a Kickstarter, for sure get an accountant to advise you on how best to handle the income and expenses, either as a business or as an individual.

  3. Pingback: Comics Coast To Coast » Blog Archive » Episode 154 – The “We Are Back” Episode

  4. Oh man, hearing Robin talk about her thank you message. I still get teary-eyed thinking about that video. It was so touching and heartfelt and really… I don’t want to say “turned you in to a person” but that was sort of what it did. It’s interesting to go from someone who’s text on a screen to a moving, talking image and it just makes the person real. You can always tell the people who are really in to what they’re doing, and that video from Robin is one of my favorite ones.

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