Well, it’s that season, tax time (at least in the US)!
So I have to fill out an 1120 for the first time this year, and I’m hoping someone can enlighten me, this year I’ve spent about $4000 on licenses and assets from the asset store.
How do you denote these expenses?
Are they “Taxes and Licenses,” (that sounds like it means gov’t only, but it’s the only mention of licenses) or a kind of “Other” like “Supplies and Materials?” Or are they “Assets,” and if so, how do you depreciate a digital file?
You should probably not use a game developers forum for tax advice, even for tax advice on game development related questions. You’ll be 100 times better off asking a tax professional - even going to a tax preparation forum would be better. Many tax places don’t expect to get paid until you get your refund (if you get one). Any advice you get here should be thoroughly researched for accuracy.
CPA usually lists them as “software” or “capital expense” for me. You may just want to talk to a CPA,if you don’t have one, and get some advice on this.
Also, asking for tax advice on a developer forum: Not the best idea.
