tax deductions bloggers

7 Tax Deductions for Bloggers You Might Be Missing Out On

Posted by Torque Mag on February 10, 2022 at 10:26 am
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Tax season is approaching fast. But did you know that in the US (and many other countries) self-employed workers like bloggers can claim several tax deductions that can significantly lower your bill? That means full-time bloggers and small home business owners like you; if you pay taxes on your online profits, then you may be overpaying by not writing off business-related expenses. So what counts as a business expense? From simple office supplies to domain fees, the results may surprise you. Let’s go over a few common deductions to help you lower your tax bill this upcoming tax season. What are Tax Deductions? Image source: Kelly Sikkema/Unsplash Taxes are paid on taxable income. That is how much you earn (gross income) minus your tax-relevant expenses, called deductions. Taxpayers in the US are qualified to take several different kinds of deductions, from medical charges to money put into a retirement fund. But one area of particular concern to self-employed workers (such as bloggers) is deductions for job-related expenses. Starting a business is rarely free, and you’re likely to have expenses of some sort even if it’s just web hosting and domain costs. Ranging from money spent on work supplies to travel…

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