Tax Tips for Bloggers and Affiliate Marketers

Podcast: Play in new window | Download

Subscribe: RSS

You may not consider your blog or niche site a business, but if you made any profit last year, you can be sure the tax man expects to get his cut.

Even if you didn’t have actual income, if you received any items for free, say maybe a piece of software to review or promote, you would need to record the value of that software as income as well.

The good part is that if you did have any income, you can deduct related expenses against that income, to reduce the amount of taxes that you have to pay come tax time.

Keep in mind, I am not a tax professional and I am merely presenting this information to bring to light some issues you may not have thought of, when it comes to blogging and taxes.

Please be sure to consult a qualified tax professional, since each situation is unique.

Potential Deductions for Bloggers

1. Cost of domain names; I recommend NameCheap
2. Web Hosting; I recommend Webhosting Hub
3. Premium themes, such as Elegant Themes
4. Conferences or seminars
5. Hotel and transportation costs to travel to a conference
6. Mileage costs for traveling to conduct blogging business or to attend an event
7. Keyword research software; I recommend Long Tail Pro
8. Business cards
9. Paid ads on sites like Facebook or Google AdWords
10. Your computer
11. Blogger training courses, such as Forever Affiliate
12. Your digital camera
13. Design software, such as PhotoShop or Camtasia Studio
14. Stock photo fees; I recommend PhotoDune
15. Cost to prepare your taxes
16. Autoresponder or email list expenses; I recommend MailChimp
17. P.O. Box
18. Postage fees
19. Any giveaway prizes that you pay for
20. Your home office, if it’s used exclusively and regularly for blogging

Those are just some of the potential expenses that you can deduct from your blogging income. Some may not apply, in your specific situation.

Conclusion

As I mentioned in the Podcast, this post/episode is just an attempt on my part, to make you aware of the requirement to report all income from your online adventures properly.

Here are some resources that you can check out for further details:

Tax Tips for Bloggers from Turbotax
IRS.gov Schedule C & SE

The links above may be affiliate links. If you purchase through my link, I will receive a commission, at no additional cost to you. In most cases you will actually receive a discount. If you do make a purchase, I sincerely thank you ahead of time!