Friday, October 5, 2007

It Has Come To Hit Me! - I Am A Professional Blogger!

You know how I came to this conclusion? I now have to pay taxes on my blogging income!

This occurred to me tonight as I was filing out one of my local tax forms! This gave me the chance to look at my blogging income which is mainly coming from my Adsense iincome for this past quarter tax season.

It is a bummer having to report this income but I have to because once you make a certain amount from Adsense they have to report that income - which means I have to report that income too. (And if you too are an adsense publisher and you make over a certain amount of adsense money they you have to report it too!) By the way this is one of the reasons why you have to give adsense your tax ID #!

But it is also a great feeling to know that I am earning an income from actually blogging. So many people think that it can't be done and I know that it can! As a matter of fact I was reading a blog by someone who makes over $5,000 a month just from their adsense income alone! (You can vote on my How Much Money Do You Make Monthly With Adsense Poll and see the results of the others that have also voted in the poll.)

Now back to this "tax" thing and blogging. Actually I had to start reporting my blogging income at the beginning of the year when it became obvious to me that I was making enough that it had to be reported. Now I have to think about deductions! And there are quite a few deductions that I will be able to take! For instance I can deduct my Internet access fees, my ISP fees, and there are a whole host of others! If I can declare my own home office deductions then I can deduct even more expense - including part of my household expenses!

I haven't figured all of this out yet because this will be the first time that I have had to declare myself as a professional blogger. Now while I have until April of next year to get everything straightened out I want it to be straightened out well before then. So I'll report back as I progress with this "tax" thing and actually being a professional blogger!

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