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Hok Wakawaka
Registered User
Join date: 9 Feb 2006
Posts: 371
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12-26-2006 01:09
Where Real Money Meets Virtual Reality, The Jury Is Still Out By Alan Sipress Washington Post Staff Writer Tuesday, December 26, 2006; Page A01 Veronica Brown is a hot fashion designer, making a living off the virtual lingerie and formalwear she sells inside the online fantasy world Second Life. She expects to have earned about $60,000 this year from people who buy her digital garments to outfit their animated self-images in this fast-growing virtual community. .................................. Full Article Here: http://www.washingtonpost.com/wp-dyn/content/article/2006/12/25/AR2006122500635.html |
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Ishtara Rothschild
Do not expose to sunlight
Join date: 21 Apr 2006
Posts: 569
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12-26-2006 01:57
From: someone "Everything in the virtual world is intellectual property, as much as it looks like property or as much as property is a useful metaphor,'' Ondrejka said. "Copying it is not theft. It's infringement, but it's not theft.'' No comment. I received a forum warning for commenting on the moral support of... infringers already, so I'll refrain from posting my opinion on this one. |
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Nigel Durnan
Registered User
Join date: 8 Sep 2006
Posts: 53
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The IRS is coming
12-26-2006 07:12
I just want to warn those making their living in SL. Don't think that Linden dollars are just a license. Lindens have monetary value when converted to US dollars. So, if you are pulling money from the game, you have income (in the US) and you owe taxes (income and self employment taxes). Make sure you keep track of all of your expenses for deductions (they will want itemized receipts to support them, your credit card bills won't do).
What you do at this point is your call. But down the line, when they finally decide to start after LL and that 1099 shows up at your door, it will be too late to fix things.
Case in point: Worldwinner.com runs pay for play solitaire games. They send out 1099s every year for all the money you win, even if you don't withdraw it. Why? It was part of a settlement worked out with the IRS. How do I know? I get one.
So, be careful. It's just a matter of time.
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