Comments on: Make Blogging A Tax Deductable Home Business

By: Ebay Tools MD

Ebay Tools MD — Fri, 02 Mar 2007 20:36:51 +0000

Definately, just make sure your office/computer is not in your bedroom (where you sleep). You can only take a tax deduction for home offices not in a bedroom. Good Luck!

By: Jessica Doyle

Jessica Doyle — Wed, 31 Jan 2007 00:17:48 +0000

Here is some Tax information for Canadians if you are a sole proprietorship or with someone else as a partnership.
http://www.cra-arc.gc.ca/tax/business/topics/solepartner/menu-e.html

Blogging can also be legally written on your tax form as your Job Title now in Canada.

By: Anne-Marie

Anne-Marie — Tue, 30 Jan 2007 15:58:35 +0000

For more information on how to figure out how to deduct utilities, mortgage, etc. on your home office, see IRS Form 8829.

Form – http://www.irs.gov/pub/irs-pdf/f8829.pdf

Instructions – http://www.irs.gov/instructions/i8829/ch01.html

It’s a little involved, but if you really do blog as a business venture, it’s worth figuring out. Any good tax person, especially one that works with small or home-based businesses, can help you figure this out as well.

By: muhammad saleem

muhammad saleem — Tue, 30 Jan 2007 01:10:55 +0000

You’re right Duncan, I’m sorry I should have pointed out that this is for the U.S. only.

Thanks for the additional info.

By: Duncan

Duncan — Tue, 30 Jan 2007 01:08:39 +0000

Note you should have made, not all your readers are in the US.

Not sure what the situation is there, but you can’t claim loses here (in Australia), but you can defer them as an offset against profits in the following years (upto 5 for memory). Also there are “hobby” provisions which means that you don’t have to declare income from a hobby…although it ceases to become a hobby at $20k when it must be declared, so for most bloggers in Australia at least that would be the easiest way to go…although you’ve probably not got a similar setup in the States, after all, you guys tax winnings from lottories at what not (which to me is CRAZY!)