blogging

Better Blogging: Should bloggers file for taxes?

bloggers file for taxes-HOW TO FILE TAXES AS A BLOGGER
How funny is the above card? I have been doing a lot of research lately about filing taxes as a blogger. To be honest with you, I know nothing about taxes. Before I got married H&R block used to do my taxes.Since I got married, I passed that job to my husband, he is really good with numbers. Let’s simply say that tax season is not my favourite time of the year. Even though many of us started our little blogs as a hobby, as our audience and traffic grow, we start to make some type of income. In Canada when you are on maternity leave you get paid about 55 to 75% of your income for a year. I remember I had to declare to unemployment every month how much I made from blogging if any.They calculated my income based on those numbers. I was only running one blog then. Now that I have 2, things are getting a little more complicated.

Should bloggers file for taxes ?

Unfortunately, once you start receiving income from your blog, it becomes a small business.You are considered in the eyes of the government a self employed. Keep in mind that full-time bloggers are not the only ones who should file taxes. Income can be anything from affiliate links, gift cards from brands, adsense , your network income (if you are with one), sponsored posts, collaboration with brands income and the list goes on…. Most of time when a brand pays you, they do not deduct taxes. Which means that you have to give Uncle Sam it’s share.

When bloggers file for taxes ?

According to Lisette from Northern belle diaries , if your net income for the year exceeds $400 then you must file taxes.This applies only to the US bloggers. Canadians and every country have different policies. Check out her full post  about how to track your blog income and expenses. She even has an excel sheet ready for you to download. Because blogging is new a thing, there aren’t many resources out there. I know this is not the type of post you read around here, but I thought maybe  the resources I found could help someone out there.

bloggers file for taxes
 Canadian blogger Stacie from Simply Stacie breaks down  How to Keep Track of Your Blogging Income.
While filing taxes, it’s important to know all your eligible deductions. Let’s build websites shared 10 Legitimate Tax Deductions for Bloggers Making Money Online. I found this article very helpful, but the one below is even better.

Don’t forget these often overlooked tax deductions for bloggers: 40 Tax Deductions Bloggers Miss

 
IFB should be your first stop for anything fashion blogging related especially when you are new. They have a few tips on taxes, such as  6 tax tips for bloggers  & An introduction to blog business  expenses
Last but not least,  Diversified Finances shares with you everything you need to know in  The Blogging Business and Taxes post here.
Please note that none of these bloggers are accountants or tax experts. Please consult your own accountant for more accurate info. If you have any more resources, links, or input please leave it in the comment section.

 

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  • Naturally Fashionable
    February 26, 2014 at 4:56 am

    Great post! I was just talking about taxes with my mom!

    • ciaa
      February 26, 2014 at 5:23 am

      Thank you Kim !

  • Katie Alexis
    February 26, 2014 at 5:07 am

    Wooow I havent made any money yet being a newbie but I did get an IRN just in case. Thank you for all the good information.

    • ciaa
      February 26, 2014 at 5:24 am

      You are welcome ! It's nice seeing you off instagram.

  • Meg H
    February 26, 2014 at 6:02 am

    This is great info! I will be passing this along to a newbie blogger pal of mine. Thank you so much! Your new ig follower : @24hrchildcare757

    • ciaa
      February 26, 2014 at 12:47 pm

      Thank you Meg for stopping by.I love reading my IG friends on the blog.

  • Fatinthecity
    March 9, 2014 at 7:05 pm

    Great Post!