Now that we are 1 year past the completion of our first Kickstarter (Flag Dash), it's about time to start sharing some of the lessons that we learned throughout the process of designing and publishing our first game. I (Kirk) wanted to start with a time-sensitive topic that I see discussed infrequently: taxes.
Please note that I am not an accountant and what is listed below is my own perspective based on reading IRS documents. I am happy to help answer any questions via this blog or email (games [at] piecekeepergames.com) but consider hiring an accountant as needed.
Here is some guidance for every line on Schedule C that I have used in 2 years or believe might be used by other small board game publishers. I did not mention lines that are simply addition or subtraction of other lines. You may want to review the lines in Part II that I did not address to see if you should use them in your situation. Through 2 years I didn't need them.
If you don't already have a good system for tracking your business expenses, I would be happy to help you figure out a quick way to meet your needs. However, that topic would be a rather lengthy blog topic by itself so please reach out.
See notes on line 27a.
Feel free to ask Kirk any questions in the comments or email games [at] piecekeepergames.com. Maybe you already filed your taxes and wish you had the opportunity to claim some of the deductions listed. If so, you have a lot of time to consider amending your return if you believe it is worth your time.