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Your Tax Guide to Professional Gaming

Withum

In 2024, professional gaming and streaming is a lucrative path for those with the skills and charisma to hold a crowd. Those that receive 1099-NEC should report this income within Schedule C of their 1040 income tax return, unless that individual created a company specifically for their Esports activities.

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Tax Fraud Blotter: Numbers games

Accounting Today

Sanctions list; getting out of the Market; why oh Y; and other highlights of recent tax cases.

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Three Ways Game Developers Can Claim R&D Tax Credits

Shay CPA

Developing a game isn’t cheap. Even if you have a team of 3D modeling pros with lots of programming experience and heaps of creativity, the hours you’ll all dump into building your game are hours people expect to be paid. Ultimately, by the time your new game hits the market, it represents a serious investment.

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2024: What’s coming up in sales tax

TaxConnex

The new year will no doubt be another active one in sales tax. Weaker state revenue The kind of year it’s going to be for state coffers could greatly influence such future sales tax trends as new levies, tougher nexus thresholds and intensifying audits. Overall, state tax revenues dropped 5.3%. If so, watch out for 2024.

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Sales tax and NFTs: Latest developments

TaxConnex

That’s a lot of tax potential, and the feds have started to notice. Nevertheless, how long before states start trying to tap this market to collect sales tax? So far, Pennsylvania reportedly just lists NFTs as “taxable,” though Michigan does go so far as to classify NFTs as digital goods not subject to the state sales and use tax.

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Navigating tax season amid the accounting attrition crisis

Accounting Today

with tax season in full swing, accountants need to have a game plan to mitigate the potential impacts the shortage may cause.

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What’s new in sales tax?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Johns County, Florida, received a $750 credit from Amazon after discovering that the marketplace facilitator had been overcharging her for sales tax for more than a decade, news reports said. New York state sales tax collections jumped 2.5%

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