Quick Tips for Blogger Taxes (2024)

FAQs

Quick Tips for Blogger Taxes? ›

Since you don't have any taxes deducted from your blogging income, you'll typically need to pay estimated taxes to the IRS each quarter. The due dates for estimated taxes are April 15, June 15, September 15 and January 15 (with some exceptions for holidays, etc.).

Since you don't have any taxes deducted from your blogging income, you'll typically need to pay estimated taxes to the IRS each quarter. The due dates for estimated taxes are April 15, June 15, September 15 and January 15 (with some exceptions for holidays, etc.).

“In addition to standard federal and state income taxes, self-employed individuals are also obligated to pay self-employment taxes,” Pianoforte said. “The net income from self-employment is subject to a 15.3% tax rate, comprising 12.4% for Social Security and 2.9% for Medicare.”

As a travel blogger, your meals and travels can be considered a deductible as long as it's related to your blog. You can also deduct expenses to and from an industry event if you're being sponsored by an agency or brand.

How much can you make from a side job before you need to pay taxes? The IRS states that anyone making $400 or more in net income from a side hustle must file an annual tax return and pay income taxes.

To get tax deductions on influencer clothes, you'll need to show the IRS that you have an honest profit motive. Basically, you'll have to prove that you're making money with these clothes as opposed to losing it.

1040 Tax Return: Most content creators will file Form 1040, the standard individual income tax return. Schedule C (Profit or Loss From Business): If you're self-employed as a sole proprietor, you'll complete Schedule C to report your business income and expenses.

It's best to start an LLC for your blog when you generate some reasonably good income. For example, if you're earning less than $30,000 a year from your blog, it may not be worth starting an LLC unless you want the liability protection.

Within the first year, bloggers can make $500-$2,000 per month. As you can see, you can earn a wide income range as a blogger. But aside from the numbers, remember these important takeaways before you begin: You can make money blogging even if you're not a professional writer.

If you receive a gift, like money or another asset, and don't offer a good or service in exchange, that's a gift. As the influencer, know that the tax burden lies on the giver, not the recipient, so in this case if a company gives you a gift, they're responsible for paying any taxes on it.

Can influencers write off rent? ›

Many influencers work from home precisely because a home office deduction is allowed by the IRS. This lets you deduct a percentage of your rent, mortgage interest, taxes, and insurance premiums from the taxable. You're only allowed to claim the area that's used exclusively for work, though.

Most people start a blog as a hobby. But after earning an average of $2,000 per month , most bloggers will consider turning it into a full-time business. If you want to turn blogging into a career, check out my step-by-step guide on how to be a full-time blogger! Okay – so blogging can be considered as a business.

If you're traveling for food events, conferences, or to gather content for your blog, you might be able to deduct the expenses—like travel fare, where you stay, and even meals along the way.

If you get paid electronically for a side hustle, small business or selling things online, you may need to pay taxes. Payment apps and online marketplaces might issue a Form 1099-K, informing you and the IRS of how much money you got for selling things or providing a service.

The Internal Revenue Service is very clear: you must file a tax return and report earnings from self-employment of $400 or more, even if it's from gig work, a side hustle app, or a temporary job. If you don't report your income as the IRS requires, there can be serious repercussions.

Is It Necessary to Report Income From Under the Table Jobs? The short answer is yes. Depending on the source of your under-the-table income, you will be required to file Form 1040. You may also need to file Form 4137 for reporting cash income from odd jobs, such as tips.

Basically, if you help a company make a sale, they might be willing to pay you a commission. Many companies, large and small, have affiliate programs that bloggers can join. After you sign up, you get a unique link for a specific product. If someone clicks that link and then makes a purchase, you get paid!

These creators may owe taxes on a lot of it. "The taxable threshold for gifts is $100, so if you receive a gift that exceeds that amount, then you should consider it taxable income," says Jaya Johnson, MSA, CPA and founder of CPbAe Accounting & Taxes.