Yes. Like any other business, if you
generate revenues from your blog(s) and live in the United States you
are required to report the income generated from your blogging
activities. Therefore, you are entitled to deduct all “ordinary
and necessary” expenses related to that venture. However, it is
important that you have your expenses well documented.
Here are examples of deductions you may
be entitled to deduct against your blogging income:
- Internet related expenses – hosting fees, domain name registration fees and blogging software.
- Computer equipment – computer, laptop, Ipad, web camera, digital camera, and software.
- Communications-related equipment used to run your blog – fax machine and cell phone.
- Office equipment – desk, chair, and file cabinets.
- Office space related expenses – rent and utilities.
- Office supplies – business cards, paper, folders, stamps and stationery.
- Advertising – logo and letterhead designs, promotional give-aways, and SEO services.
- Travel & entertainment – conference fees, and hotel, and dinning while traveling away related to your blog.
- Professional associations and subscriptions – books, magazines, website memberships, and professional association dues.
- Professional fees – lawyer and accountant.
The key to your success in deducting
your blogging expenses is to have organized records. It may seem to
you that you are not
spending a lot on your blogging endeavours. However, the reality is
that blogging costs and if you are making income from your blogging,
you might want to offset some of that with the help of tax breaks for
your costs.
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