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Showing 4 posts by John W. Mashni.

Considering Offering an Unpaid Internship? Think Twice

Are you aware of the six-part test to determine whether or not  a worker can be classified as an unpaid intern? Most interns working at for-profit organizations must be paid at least the minimum wage, plus applicable overtime. To learn more about the risks of unpaid internships, read this technology law blog post.

Categories: Employment

Year End Checklist for Businesses and Individuals

1. MEET WITH YOUR TAX ADVISOR

  • There may be last minute planning possibilities for 2015. Consult with your tax advisor while you still have time to act in 2015. Don't assume your CPA, lawyer or financial advisor is going to automatically suggest ways to minimize your tax liability. Be proactive!

2. HAVE YOUR ANNUAL MEETING AND CREATE YOUR ANNUAL MEETING MINUTES

  • It is important to document the activities and decisions at your annual meeting and accompanying meeting minutes. Make sure this happens in 2015.
Read More ›

Categories: Entity Planning, Intellectual Property, Tax

FTC Takes Legal Action Against Fraudulent Kickstarter Campaign

A drink cooler that doubles as a blender and stereo system. A card game called “Exploding Kittens” for “people who are into kittens and explosions and laser beams and sometimes goats.” A motion picture starring Kristen Bell. These are a few of the inventions and initiatives that have received the most funding on Kickstarter, the popular crowdfunding site.

Kickstarter is an online platform that allows project creators to seek financial backing. If people like a project, they can pledge money to make it happen. Funding on Kickstarter is all-or-nothing - a project must meet its funding goal to receive any money at all. Read More ›

Categories: Crowdfunding, Financing

Kickstarter – A Source of Funds and a Big Tax Bill?

Kickstarter is a crowdfunding platform for creative projects. Project creators set a funding goal and deadline for their project. If people like the project, they can pledge money to help make it happen. Kickstarter has become a popular platform for designers to raise funds while using “reward” selections to market test their garments or accessories. From the newest in fashion to movies and gadgets, and, yes, even potato salad, a wide range of products and ideas find their way to Kickstarter.

While Kickstarter has been a great fundraising platform for a wide range of people who may have had no alternative source of financing, an issue that many people overlook is the tax implications from a successful Kickstarter campaign. Read More ›

Categories: Crowdfunding, Financing, Tax