What Tax Deductions Can I Take for Blogging and Making Hubs
58Tax Deductions For Blogs
With lots of people making some money from blogging and making Hubs, I've become interested in the tax benefits. Can meals be deducted if I make a Hub or blog post about the restaurant, can trips and travel expenses be deducted if we make Hubs about the places we go?
DISCLAIMER: THIS IS NOT TAX ADVICE. Talk to an accountant in your state for tax related questions.
OK, had to put that in there.
- Is it a business or a hobby
Things bloggers should consider: is the intention is to make a profit, will you depend on the income, can you make a profit? If an activity is not for profit, then the losses can't offset other income. Although they can offset any income from the - Can I deduct expenses because I'm writing a blog?
This answers the is it a business or hobby question for bloggers well. If you do it for profit, you can and if it's a hobby you can as well, at least up to the income you generate. However, if it's a hobby, you cannot carry the loss over or apply i - Tax Deductions for Bloggers
Here is a nice list of items that may be tax deductable for your blogging and Hub making efforts.
How do I make blogging a business
The key here is to do it with the intent of making it profitable. Make one Hub a day and do it on an evergreen topic and that should count, plus as you add more and more, your income will grow. At the same time your income grows there is opportunity to offset it with deductions.
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Comments
It is interesting to find out what you can and cannot claim when it comes to writing, freelancing, and blogging. One of my college professors once told our advanced poetry class about how excited she was the first time she could "write off" her office rent.
Thanks! This is just what I am looking for..I am also trying to figure out if I can offset some food costs since in my other life I am a food blogger....for profit.
Lela- I read that, I know Deb and work with her on another network and I always check her blogs..I was surprised to see someone else I "know" there! I enjoyed reading your information!
I hate to burst anyone's bubble but it is only considered work if you made a profit in the two of the last five years. If you started this year and make a profit, you can consider it work. If you don't make a profit next year, it will become a hobby!
working
Lela Davidson says:
13 months ago
Hi Paul and Friends, Besides being the resident parenting know-it-all, I am a former CPA! I wrote an educational/overview article for Deb Ng's Freelance Writing Jobs site. If you want to check it out you can do so here: http://www.writersrow.com/deborahng/freelance-tax-