Comments on: Tax Deductions For Bloggers & The Self-Employed.

By: 'Self-Employed Tax Solutions' - Book Review & Discount Price For Readers. | My Two Dollars

Wed, 28 Jan 2009 16:31:18 +0000

[...] someone else, and I needed to learn how to start thinking like a small-business owner. What could I write off on my taxes? What kind of taxes would I owe? How should I keep my records? Well, this book covers all this and [...]

By: david

david — Sun, 25 Jan 2009 16:43:54 +0000

No, the more you deduct the lower your tax bill is. If you are self employed, and have not paid quarterly estimated taxes all year, you will owe all your taxes plus late penalties, on April 15th. Deductions just reduce your taxable income, they don’t increase your refund.

By: jozie

jozie — Sun, 25 Jan 2009 16:40:30 +0000

I am self employed.. I have about 14,000 .. is it the more i deduct the bigger the return? Im confused

By: Year End Tax Moves | Cash Money Life

Year End Tax Moves | Cash Money Life — Mon, 22 Dec 2008 10:54:20 +0000

[...] Qualified business expenses. If you have your own business, you can write off certain expenses. As long as you pay your expenses by the end of the year, you can write it off next year. This would include things like prepaying for webhosting, buying a new computer, paying for advertising, or other qualified business expenses. [...]

By: david

david — Fri, 21 Nov 2008 15:45:14 +0000

Yes, you can, according to tax law.

By: Grillinfool.com

Grillinfool.com — Fri, 21 Nov 2008 15:40:20 +0000

So I just started a grilling blog/website. I’m wondering if I can deduct the food that I cook which I document the process on the site? As well as say grill gadgets and maybe charcoal and smoke wood and the like….

By: Fabulously Broke

Fabulously Broke — Tue, 11 Nov 2008 15:18:04 +0000

This is incredible! Thanks. I knew about 50% of the list but it’s nice to have a complete one

By: david

david — Tue, 11 Nov 2008 14:54:44 +0000

“we distribute the earnings from the LLC (most of them go to my husband, who is my partner). ” I work full time as a blogger, but what you said about your situtation makes a difference and probably a good reason to have an LLC. I operate as a SP and on a cash basis – so any money that comes in is my income, no matter where it goes. It works out well for me and an LLC would not be beneficial in my situation at all.

By: Miranda

Miranda — Tue, 11 Nov 2008 14:04:13 +0000

I work about 25 hours a week as a freelance writer and professional blogger. When I first started, I was sole proprietorship. Since switching to LLC, I have been paying less in taxes. I know that both are pass through, but, even though I can be sued by anyone through my LLC, some of my assets are protected in ways that they wouldn’t be through a sole proprietorship (so says my attorney, anyway).

At any rate, my taxes have gone down through the way we distribute the earnings from the LLC (most of them go to my husband, who is my partner). We still pay income tax, of course, on the income from the LLC, but the self-employment tax I pay is significantly lower than with my sole proprietorship, and that makes a HUGE difference in what I am paying overall.

But I think it probably differs. It made fiscal sense for me to switch, but an LLC isn’t right for everyone. Here in Utah, it only costs $150 to do the LLC thing, plus $50 for a business license.

By: Matt @ Steadfast Finances

Matt @ Steadfast Finances — Tue, 11 Nov 2008 06:48:43 +0000

Nice list, and a perfect example why I keep my accountant on speed dial. Some call accountants a waste, but I call them a peace-of-mind service because the last organization I want to upset is the IRS.

One tip – for anyone searching for an accountant, give them a quick 10 minutes interview. Specifically ask if they have clients such as yourself who have tons of self-employment deductions. I made this mistake a few years ago, and fortunately my new accountant found the mistakes and fixed them.