Gaming and taxes

[The Shaman]

Idle curiosity Q for all you writers and publishers out there: do you get to write-off game-related expenditures as a business expense? For example, if you buy gaming books or history books that you use in preparing a product, do you get to write-off a portion of the cost of those books? Are there other expenses that you can deduct?

I'm not expecting tax advice (I have a tax guy for that) but I am curious about some of your experiences with this.

 

[WayneLigon]

Especially around this time of year, many writer's magazines will run articles on what can and cannot be written off as a business expense. The general gist of them is this: home office expenses need to be tracked very closely. Talk to your tax guy about it, definately.

 

[The Shaman]

Talk to your tax guy about it, definately.

I'm not a writer, or I'd probably know the answer to this - I'm just curious if there are gamers writing off their copies of Grim Tales or OGL Horror and the like!

I mean, how cool would that be? "But honey, it's a BUSINESS EXPENSE!"

 

[der_kluge]

Well, yes and no.

Yes, you can technically write off game books and home office expenses as tax deductions if you use them as a secondary source of income.

The catch is that there is a percentage that you have to meet where the income gained from writing meets some percent of your total yearly income.

So, if you are unemployed, or maybe work part-time at a McDonalds, you might be able to deduct gaming expenses from your taxes.

I make more than that, so it's not even worth my time to either report the meager earnings I make from writing, or to attempt to deduct expenses I use in pursuit of that.

 

[The Shaman]

Yes, you can technically write off game books and home office expenses as tax deductions if you use them as a secondary source of income.

The catch is that there is a percentage that you have to meet where the income gained from writing meets some percent of your total yearly income.

Ah, that's the kicker, isn't it?

Being a largely one-income guy, I didn't know that - thanks!