Re: Commercial Games - Tax Implications?
Aprone,
I'm so sorry to hear about that tax mess. My wife and I got into a similar mess, albeit much smaller, this year with the IRS - some incorrect assumptions, and some things that weren't communicated well, and next thing you know, you owe a pretty penny. Sigh.
That's so strange that you could deduct materials needed for the work you did to make the gear, but not the parts that actually went into it. I wonder why that is? I guess the former are "work-related expenses" whereas the latter are just considered part of the product?
I'm trying to think of any situations like that from a development side of things. Like, suppose you hire a sound designer, buy some sound packs, and buy some software to edit those sounds and put them in your game. Is the sound designer's pay deductible? The sound packs? The software? This is why tax professionals make the big bucks, I guess.
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