http://www.weekofgeek.com/video-game-review-podcast-6/
Video Game Review Podcast
I have a gaming website. Can I write off video game purchases?
A few friends and I have been running a gaming website, we3gamers.com, for a few months now. We report news and press releases we get by a paid service via gamespress. We do not have an LLC yetm but are thinking of registering.
Once we register the LLC, can we write off the video games that we review? We want to review as many as possible, but they are so damn expensive.
What about other expenses like business cards, recording equipment for podcast, computer equipment necessary for video capture, software for editing, Games Press fees, etc?
Thanks in advance.
If your reviews generated income, then, yes, you can write off the expense of the games (in the US, at least).
Everything else you mention would seem to be deductible as legitimate business expenses. You don't have to have an LLC to write off expenses, either.
In general, you'll also have to prove that you can reasonably expect to make a profit from the site. If you're not making any income, you can deduct your expenses, but you have to both show an effort to make income if audited. There's also a rule of thumb that you must make money three out of every five years (though falling below this threshold doesn't automatically disqualify you if you can prove effort or income).
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video podcast 5, The Videosymphonytv.com Show
