Category Archives for "1099"

Is Your Blog Taxable

       



If you are a paid blog­ger, and made over 400 dol­lars of income you have to report it on your tax­es? Yes that is cor­rect. That’s not just a blog­ger, a babysit­ter, hair­dress­er, self con­trac­tor. A self con­trac­tor or free­lance your basi­cal­ly self employed you are giv­en a 1099 MISC at the end of the year.  When giv­en a 1099 MISC (mis­cel­la­neous) you have no tax­es tak­en out.


😠 Yes I know dis­heart­en­ing to most. Your think­ing you didn’t have enough tax­es tak­en out, you are going to owe, and your are being self employ­ment tax. What ever it is you do for work more then like­ly you have some kind of expens­es. lets take a blog­ger for exam­ple, here are some expens­es for you to claim

Blog­ger fees
  •  domain sub­scrip­tion
  • blog main­te­nance
  • the new mouse you bought because you are always click­ing away,
  • the new lap­top you have because it is used for work,
  • A por­tion of your home
  • host­ing fees
  • sup­plies
  • inter­net
  • meet­ings
       Those are some of the things that can be claimed for expens­es. If you want to know more about the income por­tion it will be anoth­er blog for that. Find out if those gifts received, from oth­er peo­ple for ser­vices count as some­thing con­sid­ered as income.
      Anoth­er thing I would sug­gest would be a log it comes in handy when you need to know how much you paid out and how much income came in. KEEP RECEIPTS  IRS may ask for these to ver­i­fy and see how you con­struct­ed these num­bers.
     Any ques­tions you can email me. Also don’t for­get to sub­scribe and or share the infor­ma­tion. If there is any infor­ma­tion you feel is help­ful to oth­er peo­ple leave in the com­ments. KNOWLEDGE IS POWER

afcc5c95b381b7b393d5d2cb1b52def9e0102b50fbe39be0d5