Posts Tagged ‘expenses’

Are You A Blogger Making Money? Tax Deductions You Might Be Able To Take

Wednesday, February 13th, 2008

If you are making money from your blog, you are going to have to report it on your tax return. I know, it’s a bummer. But the good news is that you are making money from being a writer! Do you know how many people can say that? Not many, my friend! Depending on your individual situation, adding all that money to your tax return can add a significant amount of tax to your final bill. However, there are ways you might be able to reduce the amount you owe, whether or not you do this professionally or just as a hobby. As with any tax issues, take these up with your tax professional, as they don’t all apply to everyone equally. I am not an accountant or a CPA; just a blogger who makes a decent income from his sites!

  • Web hosting fees
  • Domain name fees
  • Telephone usage
  • Cell phone usage
  • Office supplies
  • Logo creation
  • Trademark filing
  • Corporation creation
  • Fax number/line
  • Business stationary
  • New computers, monitors, etc.
  • Percentage of space your home office takes up, relative to the size of your home
  • Business cards
  • Advertising expenses
  • Conference fees
  • Business gifts
  • Charitable donations in the name of your company
  • Office rent
  • Percentage of your utilities, relative to the size of your home
  • Professional organizations (for example,
  • Search engine optimization
  • Magazine subscriptions in your “industry”
  • Accounting services
  • Tax preparation fees
  • Meals out with potential or existing clients
  • Postage Fees
  • Software
  • Banking Fees
  • Prizes for contests
  • Books
  • Travel expenses related to your job

As with anything related to taxes, make sure either you or a professional knows what they are doing if you start doing deductions. The IRS does not like people who take advantage of the system, but at the same time, you should not pay more taxes than you need to. And as I said before, please get your tax advice from a tax professional, as they don’t all apply to everyone equally, and maybe not at all. If you have anything to add to the list, let us know in the comments!