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Tax Deductions and Tips for Bloggers: What You Need to Know

blog tax tips

Tax Deductions and Tips for Bloggers: What You Need to Know

The Handy Tax Guy No Comment

Did you know that as a Blogger, you can write off some of the common items you use to make your web empire awesome?

Bloggers have now etched their space into the digital world loud and strong. They have sacrificed sleep and social life to get that time sensitive post out for their followers. We at The Handy Tax Guy understand this burden and are here to help you steer through the world of taxes, especially the tax issues that affect you as a Blogger.

For some of you guys, blogging gives you a taxable income. You may be able to deduct some of your blogging or freelancing adventures. Listed below are some deductions you may be missing each tax year and not even know that you’re eligible to claim:

tax tips for bloggers

Online Tools

  • Internet (partial amount)
  • Domain fees
  • Hosting fees
  • Public internet access fees
  • Stock photo purchases
  • SEO services and fees
  • Paid site submissions
  • Website design fees
  • Data storage fees
  • Business related software and licensing fees
  • Tax and accounting software

Home Office

  • Portion of landline/cell phone dedicated to business
  • PC equipment used to blog
  • Home Office (room exclusive use only, contact us for more details)
  • Business Cards
  • Office Supplies
  • Cameras
  • Digital memory cards
  • Recordable CDs and DVDs
  • Business furniture
  • Zip drives
  • Photo printouts and processing
  • Printer ink and copier toner
  • Long distance charges related to business
  • Business equipment rental
  • Computer upgrades and depreciation costs of computer equipment

Travel

  • Conference fees and registration
  • Lodging (do not combine with meals)
  • Meals during conference (50% of cost- do not combine with lodging)
  • Entertainment (50% of cost)
  • Vehicle Expenses
  • Transportation (flight, shuttles, taxi, car rental, tolls, etc.)

Education and Professional Tools

  • Industry books & periodicals, including audio books
  • Magazine subscriptions
  • Research sites that require a subscription
  • Educational webinars
  • Business podcasts
  • Professional memberships

Miscellaneous

  • Charitable donations
  • Marketing fees
  • Movie or theater tickets related to blog
  • Business incorporation costs
  • Costs for Trademarks or Copyrights
  • Business logos and graphic design fees
  • Advertising costs
  • Photocopying/faxing fees
  • Legal fees
  • PayPal and Western Union fees
  • Post Office Box and Safe Deposit Box fees
  • Coaching advice that pertains to your business
  • Prizes and giveaways
  • Gatherings you organize for your business

Tax Related Items

  • Real estate taxes paid (% for your home office)
  • Qualified mortgage insurance premiums (% for your home office)
  • Deductible mortgage interest (% for your home office)
  • Tax preparation fees

 

blogtips1

Tips for Bloggers

  • Remember deductions have to be items related to your business
  • Keep track of receipts
  • Use excel spreadsheet for bookkeeping or a software such as XERO which will make your life easier once tax season comes
  • Remember that if you make money from your blog, then you have to report it (Profit vs Loss)
  • Talk to a professional tax advisor- you can call us to set up a free consultation
  • Print your tax checklist: the list will help keep you organized and help you not miss any possible deductions
  • Save finalized tax report from (e.g. Form 1040) previous years in a file area easy to locate
  • Start early and prepare throughout the previous year (trust us it will save you a lot of pain)
  • Stay current on new tax laws and breaks especially if they affect you directly
  • Remember that overlooked deductions mean you put less money into your wallet, and you may end up paying too much in taxes
  • Don’t worry guys, you got this!

Hope this tax deduction checklist helps you navigate through the tumultuous waters of the 2017 income tax season.

Don’t forget to check out The Handy Tax Guy FAQ page for any additional online tax questions.

Be sure to connect with us via TwitterInstagramFacebookPinterest, or on our Handy Tax Guy contact page.

Disclosure Statement: All data and information provided on this site is for informational purposes only. The Handy Tax Guy makes no absolute representation to the correctness, mistakes, omissions, delays, appropriateness, or legitimacy of any information on this site.

 The Handy Tax Guy Tax Service

**Note: Each client circumstance will vary on a case by case basis**

*A complete deduction list can be found at WiseBread.*

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