http://www.kevinkoym.com/blog/2008/12/26/making-the-local-economy-resilient-in-2009/ Entrepreneurship as life's path Mon, 30 Aug 2010 04:06:23 +0000 http://wordpress.org/?v=2.9 hourly 1 http://www.kevinkoym.com/blog/2008/12/26/making-the-local-economy-resilient-in-2009/comment-page-1/#comment-30397 John Tue, 20 Jan 2009 00:36:58 +0000 http://www.kevinkoym.com/blog/?p=241#comment-30397 An alternative currency has emerged in the online gaming world, in-game assets. The IRS already has given some thought about collecting income tax from gamers that derive a real world income from selling online assets. There is a debate as to when to recognize the income, when the assets are 'earned' or when they are transacted (earned income vs capital gains). Assigning values is something the IRS has already figured out, but they will let the tax payer make the first stumble by filing the return. An alternative currency has emerged in the online gaming world, in-game assets. The IRS already has given some thought about collecting income tax from gamers that derive a real world income from selling online assets. There is a debate as to when to recognize the income, when the assets are ‘earned’ or when they are transacted (earned income vs capital gains). Assigning values is something the IRS has already figured out, but they will let the tax payer make the first stumble by filing the return.

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