
It may not be an amount to live off of, but I managed to make over $1,000 last year in online revenue. That averages out to under $100 a month, BUT it's good enough to pay a few bills and have some "fun" money to use. Not bad for someone in their second year of blogging, no? Once I received my tax forms and handled that whole process, I was advised that my blog is considered a business and it is allowed to have business expenses. Who knew! I surely didn't so I was advised that if I have certain expenses that my business needs, I would be allowed to deduct those for next year.
I'm actually excited about this. First and foremost, because I'm a business owner. My own boss! Second, because I'm able to deduct certain expenses to reduce my tax bill next year. Now, I still consider myself a rookie here. I just starting my third year (Earlier this month) with this blog and it's the first time I encounter the "business expense" aspect of it all. So I'm curious as to how it will work. I was thinking out loud the other day with my wife and we came across certain items that may or not be considered business expenses. If I were to get a laptop, would that be considered a business expense since I would use it to work on my site? What about the FiOS internet that I use to log online? Or my cell phone which I use to receive and respond to Emails in regards to my site? I have plenty of questions and if you're on the experienced side of it all, I would love your input. In the mean time, I'll just keep tabs of those expenses, just in case I'm able to chalk them up to, "Metallman's expenses". =oD Later!