The Tax side of your blog
I'm new to the blogging financial side and have a question about taxable income from someone's blog.
If I run a blog as an individual (no any LLC) and I have an income from ads (Google, Text Links, etc.) and from donations, how should I declare it? As an ordinary income? Or, is it better to open an LLC and make the payments through it?
It seems like I gave an idea for the John Chow blog post today. LoL :)
Now I know who is reading this forum... Hi, John ;)
IIRC, you can report 'hobby' income separately from business income. And LLC is not the only business structure.
I'm guessing you're not in Canada, but if you were, then its just reported on your individual tax return as sole proprietership income.
I guess it goes without saying, but for 'international' bloggers, you would need to check with your own tax authority.
The rules vary widely across the world regarding how such income is treated, or even if it should be included or not. For example, many US citizens living abroad generally have to file ALL global income, Brits living abroad generally do NOT. Generally.
This is an example of how rules may vary. Do check with your own tax authority as well as the tax authority in the place where you live.
you will have to file a schedule C along with your 1040, LLC's and corporations file there own taxes
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