Tax Deductions for Bloggers
- Start-up costs
- Website and hosting fees
- Content creation expenses
- Home office expenses
- Marketing and advertising
- Payments to contractors
- Equipment like cameras and computers
- Software and online services
- Travel costs
- Conference and membership fees
Filing Taxes for Bloggers
How do I file taxes for my blog? Bloggers file taxes according to the legal entity under which their blogs operate. For blogs registered under sole proprietorship, they file their taxes by simply filling the standard 1040 tax return form and attaching a Schedule C form. For S Corporation blogs, they simply include their income taxes with their personal tax return form. However, for C Corporations and LLCs, the business is a separate entity, and the blogger has to file its returns separately from their personal tax returns.
Sole Proprietors can continue to file their blog taxes directly on their personal tax forms (on a Schedule-C), making it a great, easy option for side hustle bloggers. Operating a Sole Proprietorship comes with a higher risk profile—you personally assume responsibility for all financial and legal obligations.
Most people who need to file an income tax return will do so as sole-proprietors. You need two primary forms when filing during tax season: a Schedule C and a 1040.
Tax Deductible Expenses for Bloggers
You can claim expenses on your taxes that relate to your blog such as equipment purchases or business travel. You need to keep receipts and invoices to substantiate deductions. If your blog is structured as a business, there are more potential deductions than if it’s just a hobby. For equipment purchases over $5000, you can deduct part of the cost over about five years.
You need to pay income tax on your blogging profits. Tracking deductible business expenses accurately is important when filing your taxes.
Can Food Bloggers Write Off Groceries?
You can deduct the costs of food and drinks that you consume during your work as a food blogger, including during business travel. If you attend any business meetings away from home, you may also deduct the cost of meals while there. However, the IRS does not permit individuals to write off groceries and food items since they substitute for what is normally consumed to satisfy nutritional needs. Tracking income and expenses accurately is important when filing your taxes as a blogger.