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I received a comment earlier on my blog asking about tax write offs. Legally I can’t give any advice about write offs, all I can give is an account of what I write off on my blogs.
1. Anything that’s related to my blog. This year I’m writing off a projector, a digital camera, and the cost of buying domains. Also I should add that hosting is a definate writeoff.
2. You can’t write off money you don’t earn with your blog. If you only earn $30 with your blog you can write off $40 worth of stuff.
3. One of the best reasons to go into business for yourself? Write offs. What’s better than getting stuff “30%” off. I mean 30% off because you aren’t paying tax on the income used to buy whatever it was for your business. The key is making it business related.
According to Spark Plugging.com:
“Here are the IRS qualifications of blogging as a business vs. a hobby:
As Spark Plugging writes, your blogging activity needs to be profitable.
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July 15th, 2008 at 9:24 pm
Writing off DVDs by doing movie reviews is likely the best thing ever. Were you able to write off all of your traveling for your travel blog?