Tuesday, December 16, 2008

What Can Bloggers Deduct on Their Taxes?

So you blog, and you make a little money doing it. It's official. You're self-employed (and in great company, I might ad).

What does that mean for your taxes? Deductions, of course. Here are some expenses you may be able to deduct:

  • Office supplies like stamps, printer paper, business cards, etc. that I use for promotion
  • Hosting and domain-related expenses
  • Advertising costs
  • Premium or "charter" memberships at websites like Photobucket and Flickr
  • Stock photo expenses
  • Travel-related expenses for blogging conferences (see the IRS guide below for more info)
  • Magazine subscriptions, journals and books you purchase for research
  • Cost of trademarking your domain name / blog name
  • The portion of internet costs you use for business (see the IRS guide below for more info)
  • Home office deduction (see the IRS guide below for more info)
  • Computer equipment that you use expressly for blogging (and any repairs made to the equipment)
  • Expenses related to giveaways: shipping, any prizes you purchased, etc.
  • State income taxes and other taxes (see the IRS guide below for more info)
Essential Reading: IRS Small Business and Self-Employed Tax Center

Further reading:
Readers: What have I left off? What blogging-related expenses do you plan to deduct from your taxes?

Disclaimer: The above post should not be construed as tax advice. I'm not a tax professional. Nor do I play one on TV.