If I have a video game Podcast can I right off video games on my taxes?
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I was wondering simply because I spend a large amount of money on games and such for research for this Podcast. I also have a board game podcast and spend a lot on games for that one too Any kind of information would be helpful.
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Answer:
You can subtract some of your business expenses from your business income. If you don't make money from the podcast, you can't deduct any of the expenses of running it.
Josh N at Yahoo! Answers Visit the source
Other answers
Is this a business that you are engaging in for profit? Are you turning a profit after all business expenses? If not, the IRS will never let it fly. At best it's a hobby and with a hobby you have to deduct your expenses on Schedule A and those expenses are limited to the income that you realized from the hobby. You can break even, i.e. no profit, but if you are expecting to show a business loss for the purchase of video games it's not going to fly.
No, the video games are not a deduction.
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