Tax Tips & 10 Deductions for Bloggers

I spent all day Saturday doing taxes for the family, something that I have been doing for years, however, I think this may be the last year of flying solo with Turbo Tax. I think the time has come for me to have a professional handle them. Not that I don’t have time nor the patience to do them, I just know there are many deductions that I am missing because I didn’t keep accurate records.

However, now that I am officially working my business full time, I need to make sure that I enter all of my expenses as well as income in a timely and accurate manner. I currently use Wave Accounting for these entries because it’s easy, however, if you know of a better online accounting package, please leave a comment below.

Speaking of expenses and deductions, there are several tax tips and deductions that all bloggers should be aware of and below are the top ten I found on Lifewire.com.

This post is not tax advice and is not intended nor written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer.

1. Internet-Related Expenses

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As a blogger, you may be able to deduct your internet-related expenses. For example, you may be able to deduct:

Hosting fees for your blog
Domain name registration fees
Internet access fees
Blogging software fees
Image or music downloads for your blog

2 . Computer Equipment

You may be able to deduct:

Your computer
Upgrades such as memory upgrades
Laptop computer
Wireless router
New keyboard, mouse, and monitor
Software (for example, photo editing software, accounting software, tax preparation software)
Web camera
Digital camera

3. Communications-Related Expenses

Many of the communications-related equipment and tools you use to run your blog could be deductible, including:

Second phone line for your business or fax machine
Fax machine
Cellphone calls
Long distance calls
Smartphone

4. Office Equipment

Traditional office items can be deductible such as:

Desk
Chairs
Lights
File cabinets

5. Supplies and Stationery

Little supplies can add up quickly. Keep track of the receipts as these items may be deductible:

Business cards
Letterhead
Envelopes
Paper clips
Staplers and staples
Paper
Post-its
Folders

6. Advertising, Promotion, and Design

Most bloggers invest in design, advertising or promotions each year. Remember to deduct applicable expenses such as:

Blog design (custom blog, header)
Advertising design
Logo, letterhead design
Advertising placement
Contest prizes
Promotional giveaways
Paid site submissions
Search engine optimization services

7. Travel and Entertainment

If you attend blogging conferences or meetings, you can most likely deduct those expenses:

Conference fees
Hotel charges while away on business related to your blog
Dining charges while away on business related to your blog
Entertainment for clients you take out related to your blog
Transportation when it relates to business for your blog

8. Professional Association Memberships and Periodicals

Many bloggers belong to professional associations related to the topic of their blog or to blogging itself. Professional dues may be deductible. Similarly, periodicals and books that you purchase to help you learn and grow could be deductible, including:

Professional association dues
Books, magazines, online subscriptions
Professional website memberships

9. Office Space and Related Expenses

If you work out of your home to conduct your blogging business, you may be able to deduct the rent for your office space from your tax return. Alternatively, if you work from your home, you may be able to deduct a portion of your household bills for that space if you use that space solely to conduct your blogging business. Expenses in this category could include:

Rent
Electricity
Water
Natural gas
Security

10. Miscellaneous Other Expenses

There are a multitude of little out-of-pocket expenses that you may be able to deduct as a blogger. Consider the following as you prepare your tax return: