10 Tax Deductions for Bloggers
Yes, believe it or not, you can get taxed for blogging. This, of course, applies to those individuals who have made money or other forms of income from their blogs, for example through private ad sales, selling products like ebooks, ad revenue for programs such as Google AdSense, or affiliate programs.
Fortunately, there are several tax deductions you can make when the tax man comes around. Just make sure that you save all the necessary receipts and invoices and double check your deductions with your accountant. Here are some of the most obvious tax deductions for bloggers:
Image by Kristina B
1. Industry Books and Periodicals
Many successful bloggers are actually niche bloggers, meaning they blog about a particular theme or topic. As a result, research can be an essential part of running your blog. If you accrued costs to acquire niche research, make sure to save the receipts and claim them as a tax deduction. This also applies for research sites that require a subscription.
2. Webinars and E-Courses
If it has to do with your blog, it may be tax deductible. For instance, perhaps you blog about gardening and attended a webinar on how to properly grow poinsettias. You might be able to claim the cost of the webinar as a tax deduction.
3. DVDs and CDs Related to Your Blogging
Maybe you’re writing a review. Maybe you’re doing research. Either way, make sure to keep receipts of any CDs and DVDs that are related to your blogging.
4. Internet Access Fees
You can’t run a blog without internet, and at around $40 a month it can be a big expense. Your internet access costs can be claimed as a tax deduction.
5. Web Design Services
I’ve recently experienced first hand how incredibly expensive it can be to hire a web designer and have them design your blog for you. Make sure to save any receipts or invoices for your web design cost as that alone will save you a nice chunk of cash come tax time.
6. Web Hosting Fees
Web hosting isn’t incredibly expensive, but it does make a difference when it’s time to pay taxes. Keep any credit card statements and receipts that are related to web hosting or domain registration.
7. Virtual Assistants and Other Freelancers
If you’re blog becomes a success you may need some help, especially if you are looking for advertisers or trying to sell multiple products. Whether you are paying someone to upload content or manage your blog’s Facebook page, these types of expenses are usually tax deductible.
8. Stock Photo Purchases
What’s a blog without photos? Any stock photo purchases you make can be claimed as a tax deduction. Save those invoices!
9. SEO Services and Fees
Some of us need a little extra help in the department of Search Engine Optimisation (SEO). If you are one of them, and it’s costing you a price, make sure to record it as a tax deduction.
10. Blog Expenses
Yes, blogs have expenses. Sometimes those WordPress additions can cost you a pretty penny. If that’s the case, then keep the receipts and claim them as a deduction.
Making money from your blog doesn’t mean you have to get slammed with taxes as well as fees. Keep the aforementioned deductions in mind, and run them by your accountant when it;s time to file your taxes.
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Category: Work
