Blogging and Money and Taxes - Oh My!
December 8, 2008 11:47 AM Subscribe
blogging as a business and taxes - it can't be so difficult! Or can it?
The Plan - spouse and I want to start a travel blog (we love to travel and are *good* at it!) as a business. You know, run some google ads, make a little money. Actually, if we make enough to cover our travel, we'll be happy (until the eventual greed kicks in). Soooo... if we're going to make more than $600 here in America, the IRS is going to want it's share. But two can play at that game! We want to take all the deductions we can (home office, website costs and, of course, our travel). It will just be the two of us, no employees. But therein lies the confusion...
posted by catcatwomanman to Work & Money (15 answers total) 5 users marked this as a favorite
As this will be a partnership (rather than a Corp or LLC), can we carry losses over to our personal incomes (initial research says yes, hivemind says... ?)
Any advice from anyone who has a blog making money?
Any advice from anyone running a web-only based business?
Any advice from anyone who doesn't meet the above criteria but is 99% sure they know what they're talking about?
Do you recommend a business tax id number? A business bank account? A business anything else?
Do we pay estimated quarterly taxes? Even if we're losing money?
What about employee tax of 15%? Pay that too? Quarterly? Even if we're losing money?
Any online references you recommend?
Super duper thanks in advance!