Archives for June, 2016

Legal Tax Tips For Professional Bloggers

New jobs may bring you new tax deduction possibilities, and many people are turning to the professional world of blogging. If you’re a recent Canadian entering the blogging world, you should know what receipts to keep and what you can write off. Read on to learn about Bloggers’ tax deductions, and don’t forget to talk to your Toronto tax lawyer if and when you have any questions!

Before we go through things, you should be made aware that the Canadian Government will allow you to write off the following expenses for your blog even if the blog is not bringing in any profits. They’ll only let you get away with this for a few years, because they know getting a blog to become popular takes time (typically). Eventually though, they’ll expect you’re making money (or giving it up).

Now, what kinds of write offs can you make that you may not have been able to make at a previous job? First, there are any internet expenses that you’ll need to start up. These expenses include your internet bill (they’ll require a percentage of your business-oriented internet use to be recorded.), purchasing the blog’s domain name, hosting provider, and any premium WordPress themes. That is, if you’re going to use WordPress. You may want a theme from elsewhere, like Wix, or Joomla. Before you set up with a website builder other than WordPress, speak to your tax lawyer to make sure your desired builders are qualified.

Next, you can actually hire a web designer and/or graphic designer and write off the fees for that. After all, they’re required for setting up (and maintaining) your site for you. And since your site is your new business, it’s an expense you can write off. Pretty neat info, if you ask me.

Another professional you can hire and write off is a blog coach. Yes, they exist. Yes, you can find one to hire using Google.

Finally for the internet write offs, you can write off your advertisements. You can boost your Facebook or Twitter posts, or set up your own Google adverts. Things like that. Of course, you should also be able to write off real world ads if you take out a half page ad in your local newspapers or mail out flyers about your blog, or ideas like that. Verify this with your Toronto tax lawyer.

Real world write offs can be simple and kind of boring but believe me, I’m saving the best part last. You can start by writing off any new computer(s) (as long as they’re meant for your blogging) plus any computer gear you really need. According to Tax Lawyer Toronto: You can also set up a home office and write off those needs, including a computer desk, computer chair and things like that. Get a filing cabinet too, for receipts and Excel spreadsheets.

Order yourself some business cards to get the word out that you’re a new blogger and you can write those off too. That’s not the best part, but it’s a slight start.

Ready for this? If your blog is centered on cooking and food reviews, you can write off a whole lot of meals, provided that you are actually blogging about them. Or if you see a new kitchen tool you want, go and buy it. Review it on your website, keep the receipt, and write it off come tax time.

Carefully read these next two sentences in full: POTENTIALLY, you could buy a new oven, review it, and write it off. But DEFINITELY speak to your Toronto tax lawyer before making a purchase that big. 

Travel expenses may also be possible to write off. There are blogger conferences that may take you into the States. Your air/gas fare, hotel rooms, food, and additional costs regarding the conference can be written off.

That said, I’d once again call the Toronto tax lawyer, because I for one would love to know if travelling can be written off for other purposes (for example, attending a major Comic convention with the purpose of blogging about the event). In fact, if you’ll excuse me, I believe this is where I’ll end my heads’ up for the day!

 

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