The world of eSports has never been bigger or more popular than it is today. Of course, as the industry continues to grow, so too do the financial rewards for the players and teams. With so much money on the table, many gamers are turning to eSports accounting experts to help them manage their finances and handle their tax obligations.
Indeed, eSports CPA's can be particularly helpful for the following tasks:
Esports Bookkeeping and Financial Advisory
Accurate accounting and financial planning services are vital to the success of an eSports entrepreneur. As the prize money starts to roll in and your earnings start to increase, our eSports accountants will help you establish a chart of accounts, reconcile entries, maintain a history of all documents pertaining to your business, and issue financial statements. This assures that every detail of your company is accounted for, so you can focus on what matters most.
Our team of eSports CFO advisors is dedicated to providing gamers with the most accurate, comprehensive financial strategy regarding their eSports career. As the industry continues to grow, it is important to map out the direction of your brand. By analyzing financial statements, savings accounts, and retirement accounts, our trusted financial advisors are able to help create a road map for your eSports career.
Tax Planning and Minimization
For regular W2 employees, tax planning and preparation are fairly simple tasks. For eSports players, on the other hand, it can be quite a bit more complex. For instance, if your income is derived from some combination of monthly contracts, sponsorship agreements, performance fees, and winning bonuses, it can be pretty tricky to figure out exactly how much tax you should be paying and who you should be paying it to.
Luckily, our team of esports tax specialists has the knowledge and experience to help you find the answers that you need. Our eSports CPA's will help you prepare accurate tax returns with all of the necessary tax authorities - on the state and federal levels. Paying taxes might be a fact of life, but there is absolutely no reason why you should ever need to pay more tax than you absolutely have to. The eSports tax planning and preparation specialists here at Fusion CPA know exactly how to reduce your year-end tax liability.
Our eSports CPAs know tax legislation like the back of their hand. They know exactly where to look to find techniques for minimizing tax payments. For some gamers, the solution may be as simple as identifying deductions that can be used to reduce taxable income. For others, a more intensive tax planning process may be necessary. One thing is sure though - when you work with our seasoned eSports bookkeepers and tax specialists, you will not pay more than your fair share of taxes.
Contact Fusion CPA Today
Whether your game of choice is Fortnite, League of Legends, or Call of Duty, our eSports CPA team is ready to help you with all of your accounting and tax needs. If you would like to discuss your specific needs or learn more about our services, please do not hesitate to get in touch with us today.
This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.