Twitch Streamer Taxes in New Hampshire - 2025 Guide

Updated for 2025 (Filing 2024 Taxes)

Is Twitch Streamer income taxable in New Hampshire?

Yes, your Twitch streaming income is taxable at the federal level, but generally not at the New Hampshire state level. Here's a breakdown:

Federal Taxes: The IRS considers income from Twitch streaming as self-employment income. This means you'll report your earnings on Schedule C (Profit or Loss from Business) as part of your Form 1040. You'll calculate your gross income (total Twitch revenue) and then subtract allowable business expenses (more on those below) to arrive at your net profit. This net profit is then added to your other income when calculating your overall federal tax liability.

New Hampshire Taxes: New Hampshire has a unique tax system. It does not tax earned income, such as wages or self-employment income. You will only owe New Hampshire state tax on interest and dividends. Therefore, your Twitch streaming income, reported on Schedule C, is generally exempt from New Hampshire state income tax. However, it's always best to confirm with a qualified tax professional if your situation is complex.

Top Tax Write-offs for Twitch Streamers

As a Twitch streamer, you likely have several deductible business expenses that can significantly reduce your taxable income. Here are a few key ones:

• Streaming Equipment: The cost of your computer, webcam, microphone, lighting, capture card, and other equipment used directly for streaming is deductible. You can either deduct the full cost in the year of purchase (using Section 179 deduction, subject to limitations) or depreciate the cost over several years.
• Software & Subscriptions: Expenses for streaming software (OBS Studio, Streamlabs Desktop), editing software (Adobe Premiere Pro, DaVinci Resolve), graphic design tools (Photoshop), music licenses, and Twitch channel subscriptions (for research/promotion) are all deductible.
• Internet & Utilities: If you use a dedicated portion of your home exclusively and regularly for streaming, you can deduct a percentage of your internet bill, electricity, and potentially even rent or mortgage interest. This requires calculating the percentage of your home used for business.
• Mileage: If you travel for Twitch-related activities (e.g., conventions, meetups, equipment purchases), you can deduct the business portion of your mileage. For 2024, the standard mileage rate is approximately 67 cents per mile (verify the official IRS rate at IRS.gov). Keep a detailed mileage log!

The 15.3% Self-Employment Tax Surprise

Many self-employed individuals are surprised to learn about self-employment tax. When you're an employee, your employer pays half of your Social Security and Medicare taxes. As a self-employed streamer, you're responsible for both the employer and employee portions. This combined tax is 15.3% (12.4% for Social Security up to the annual wage base, and 2.9% for Medicare).

You'll calculate this tax on Schedule SE (Self-Employment Tax). The good news is you only pay self-employment tax on 92.35% of your net earnings from Schedule C. You do get to deduct one-half of your self-employment tax from your gross income on Form 1040.

Closing Tip for New Hampshire Residents

While New Hampshire's lack of income tax is a significant benefit, don't overlook the importance of accurate record-keeping and maximizing your federal deductions. Consider using accounting software or working with a tax professional to ensure you're compliant and minimizing your tax liability. Staying organized throughout the year will make tax filing much smoother. Good luck with your streams, and happy tax filing!