Tax Write Offs And Deductions For Video Game Streamers

As a self-employed video game streamer, you have a unique set of expenses that can be written off on your taxes. Here's a handy guide to help you navigate the world of tax deductions and save you some money.

1. Agent Fees

Agent fees are a common expense for streamers who have representation. These fees can include payments for contract negotiations, brand deals, and more. They're an essential part of your business, so don't forget to write them off.

How to write it off: Report these on Schedule C, Box 10.

2. Business Meals

Whether you're dining with a potential sponsor or grabbing a bite during a gaming convention, business meals are a deductible expense. Just remember to keep your receipts and note the business purpose of the meal.

How to write it off: Report these on Schedule C, Box 24b.

3. Car Insurance & Registration

If you use your car for business purposes, like driving to gaming events or picking up new equipment, you can write off your car insurance and registration fees. Make sure to keep a log of your business-related trips.

How to write it off: Report these on Schedule C, Box 15.

4. Car Maintenance

Keeping your vehicle in tip-top shape for business use? Costs for maintenance and repairs can be written off. This includes oil changes, tire rotations, and other routine services.

How to write it off: Report these on Schedule C, Box 9.

5. Car Purchase & Depreciation

If you've purchased a car primarily for business use, you can write off the cost and its depreciation. Remember, the IRS has specific rules about how to calculate depreciation, so you might want to consult with a tax professional.

How to write it off: Report these on Schedule C, Box 13.

6. Creative Assistance

Do you hire graphic designers for your channel art or editors for your videos? These creative assistance costs are deductible. Just make sure to keep track of your payments and contracts.

How to write it off: Report these on Schedule C, Box 11.

7. Gaming Subscriptions

Those monthly fees for online gaming platforms? Totally deductible. As a streamer, these subscriptions are a necessary business expense, so make sure to write them off.

How to write it off: Report these on Schedule C, Box 27a.

8. Gaming System

Your gaming system is your main tool of trade, and its cost can be written off. This includes the console itself, controllers, and any necessary accessories.

How to write it off: Report these on Schedule C, Box 27a.

9. Home Office Furniture

If you've set up a dedicated streaming space in your home, the cost of furniture for that space can be written off. This includes your gaming chair, desk, and any other furniture used exclusively for your business.

How to write it off: Report these on Schedule C, Box 18.

10. Meals While Traveling

On the road for a gaming convention or tournament? You can write off your meals while traveling. Just remember, only 50% of meal expenses can be deducted.

How to write it off: Report these on Schedule C, Box 24a.

11. Online Advertising

If you're spending money on ads to grow your audience, these costs can be written off. This includes ads on social media, search engines, and other online platforms.

How to write it off: Report these on Schedule C, Box 8.

12. Parking

Parking fees incurred for business purposes can be written off. This includes parking at gaming events, meetings, or other business-related activities.

How to write it off: Report these on Schedule C, Box 27a.

13. Power Bill

Your gaming equipment uses electricity, and if you have a dedicated space in your home for streaming, a portion of your power bill can be written off. It's a bright idea to save on your taxes!

How to write it off: Report these on Form 8829.

14. Property Insurance

If you have property insurance for your home office, you can write off a portion of it. This includes insurance for your gaming equipment and other business assets.

How to write it off: Report these on Form 8829.

15. Property Repairs

Repairs to your home office or gaming equipment can be written off. This includes costs for fixing your gaming system, replacing parts, or repairing your office space.

How to write it off: Report these on Schedule C, Box 21.

16. Streaming Equipment

Cameras, microphones, lighting equipment - all these streaming essentials can be written off. They're necessary for your business, so don't forget to deduct them.

How to write it off: Report these on Schedule C, Box 22.

17. Streaming Backdrops

If you use backdrops to create a professional look for your streams, these can be written off. This includes green screens, themed backdrops, and other set decorations.

How to write it off: Report these on Schedule C, Box 27a.

18. Tolls

If you're traveling for business and encounter toll roads, these fees can be written off. Just make sure to keep your receipts or use a toll tracker app.

How to write it off: Report these on Schedule C, Box 27a.

19. Transportation

Whether you're flying to a gaming convention or taking a taxi to a business meeting, your transportation costs can be written off. This includes airfare, taxi fares, and public transportation costs.

How to write it off: Report these on Schedule C, Box 24a.

20. Travel Lodging

Hotel stays for business trips are a deductible expense. Just remember, personal expenses during your trip, like sightseeing or entertainment, can't be written off.

How to write it off: Report these on Schedule C, Box 24a.

21. Vehicle Tool Kit

If you've purchased a tool kit for your vehicle for business purposes, this can be written off. This includes tools used for car maintenance or repairs related to your business.

How to write it off: Report these on Schedule C, Box 22.

22. Video Games

Yes, you read that right! As a video game streamer, the games you play for your business can be written off. Just remember, games purchased for personal use aren't deductible.

How to write it off: Report these on Schedule C, Box 27a.

23. Water Bill

If you have a dedicated home office for streaming, a portion of your water bill can be written off. It's just another way to save on your taxes.

How to write it off: Report these on Form 8829.

24. Website & Hosting Fees

If you have a website to promote your streaming business, the costs for website development and hosting can be written off. This includes domain registration fees and monthly hosting costs.

How to write it off: Report these on Schedule C, Box 8.

25. Wi-Fi Bill

As a streamer, a reliable internet connection is crucial. You can write off a portion of your Wi-Fi bill as a business expense. Just make sure to calculate the percentage used for business accurately.

How to write it off: Report these on Schedule C, Box 25.

What is Workmade?

WorkMade is an all-in-one banking and accounting app designed specifically for freelancers! WorkMade gives you access to: zero-fee business banking, automated bookkeeping, fast and easy invoicing, and quarterly tax estimations and payments.

About Workmade
An artistic photograph of a freelancer getting paid

The banking app that pays your taxes, finds write-offs and gets you paid fast.

Free to download. Sign up in 60 seconds.

Learn More

Do your thing.

It only takes 60s to

Get Started

Scan to download the app.