SL paying the bills?

Great thread to read. Agree that SL is about much more than just making money, but also agree that making a living in the metaverse is a pretty cool goal. Some stats:

There are now roughly 500 people who appear to be making more than USD$100/month in SL, and 60 or so making more than USD$1,000/month. This is a rough figure based on looking at net change in L$, and doesn't take currency exchange and land value into account. But interesting as a rough indicator, and of course the great news is that these numbers are going up quite fast.

Its always nice to hear the facts. Thanks Philip.

Is there any chance of us ever seeing a breakdown of expenditures of players by type? This would allow us to see what product / service sectors are hot.

Real Personal Consumption Expenditures by Major Type of Product, Quantity Indexes
Example US Gov't Statistics

I know that is next to impossible since there is no way to categorize each transaction. But I can always hope.

Last I heard it was around $600, after that it needs to be reported.
Quick google search found an IRS document that backs up my statement:

"If you are not an employee and the fees for your services from the same payer and your share of the income is reported total $600 or more for the year, you may receive a Form 1099-MISC."

also.. this is an interesting statement that may apply:

"Foreign currency transactions. If you have a gain on a personal foreign currency transaction because of changes in exchange rates, you do not have to include that gain in your income unless it is more than $200. If the gain is more than $200, report it as a capital gain." - Would $L to US count? I dont think so either.

For all the rules: http://www.irs.gov/pub/irs-pdf/p525.pdf page 28

Good info Burning. I thought it was around that figure.

Thanks for the stats Philip!I love seeing that kind of stuff. I'd hazard a guess that there are probably a thousand or more who are covering their monthy tier fees with L$ profits. That's pretty cool.