|
nelson posted:I would think unrecognized income would be great because you have real cash in hand and you won't have to pay taxes on it until it is recognized. At least I believe that's how it works (any tax experts feel free to correct me). It just depends on if the state taxes the 'virtual currency'/gift card at the time of purchase (which would subsequently make the purchased amount using the virtual currency/gift card portion of the sale tax exempt for the purposes of remitting sales tax that month), or if the gift card/currency is a tax-free purchase, and upon use of the card/currency the value of the item is taxed at the point of sale (web, restaurant). It's more complicated than that, but I believe that to be accurate in a simple way.
|
#
¿
Jun 6, 2014 04:31
|
|
|
|
| # ¿ May 15, 2024 06:58 |
|