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Tax Deductions for Bloggers and Freelancers

Tax

Tax (Photo credit: 401(K) 2012)

Many bloggers and freelancers frequently ask what expenses they can deduct for tax purposes.

The answer depends on the reason you engage in blogging. You can deduct expenses you incurred in connection with your blog or freelancing gig if you can show that you run your website or freelancing activities for the purpose of generating income.

The tax law provides that “you can deduct all ordinary and necessary expenses in carrying on a trade or business.” (IRC Sec 162a).

The fist question you should answer is: Is your blog, website, or any other gig run for generating income or is it just your hobby which you do for entertainment? Your activities will be considered a business if you can show that you are actively pursuing revenue generating opportunities. Read More

Categories: Blogging Sense, Blogging Tips
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