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Q: Taxes on online games. ( No Answer,   0 Comments )
Question  
Subject: Taxes on online games.
Category: Business and Money > Accounting
Asked by: gh0st-ga
List Price: $10.00
Posted: 25 Feb 2006 09:40 PST
Expires: 28 Feb 2006 13:49 PST
Question ID: 700851
I have got some complicated tax questions that I need some help with.
I recently started a website in which I sell my services to trade
people gold for the online game gaiaonline.com for a price. (For
example, I will give one character 100,000gold for the game and they
will give me $15USD.) First of all I was wondering if this is legal or
not, and if not what are the penalties for violations. Second of all
is what I am supposed to pay as taxes to the US government. I am only
16 and run the site solo, I made ~$100 per week from the site, and
donate a portion of it to charity. This money is not what keeps me
alive (I live with my parents and they provide me with food and
housing), it is just something I do in my spare time for some extra
money to spend. Anyways, I want to know what (if any) taxes I have to
pay when im in this situation, and what type of forms I have to fill
out, etc. I have looked everywhere and cant seem to figure anything
out.

Thanks for your help.
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