When it comes to making money online, there are few occupations that attract as many driven people as blogging. However, as with any self-employed position, bloggers have to worry about filing their own taxes. This process can be confusing—not only is there the standard income tax to prepare for, but there’s also a self-employment tax to cover, quarterly payments to manage, and deductions to take. For most bloggers, their skills lie with the written word, not numbers; if you’re feeling confused, you’re not alone. Here are a few simple tips to make tax return preparation as simple as possible.

A Tax Return Preparation Guide for Bloggers

1. Note & Report All Income Earned During the Year

Bloggers are notorious for having multiple clients and income streams month after month. And it’s not uncommon for those income streams to change throughout the year. Regardless of how much you earn from a single source, note and report that income. Even one-off guest blogging projects that earned little more than a few cents of ad revenue should be reported to the IRS. Remember, if you earned it, the IRS needs to know about it.

2. Don’t Neglect Quarterly Payments

When you work a normal job for a separate employer, they withhold taxes from your paychecks automatically. This spares you from having to send payments to the IRS during the year. As a self-employed blogger, you’re responsible for handling your own tax withholding. Further, you’re required to send quarterly payments to the IRS to document the money you earn throughout the year. Make sure you pay those quarterly taxes so you’re not left with a huge surprise when filing your tax return. Just make sure to also factor in the self-employment tax on those payments. This covers your payments for Social Security and Medicare. If you want the convenience of someone else remembering to make the payments on time, work with an experienced accountant.  

3. Seek Help From a Professional

As a self-employed blogger, you’ll likely qualify for deductions that you wouldn’t if you were working for someone else. However, unless you’re familiar the tax code, you probably won’t know which deductions will help your business most. An experienced accountant will be able to find the best deductions for your needs to further reduce that April tax bill. Best of all, they’ll handle the tax return preparation for you so you can get back to doing what you do best: writing!

As a blogger, tax return preparation doesn’t have to be difficult. Contact the experts at Gillette & Associates LLC CPA in La Crosse, WI. Their experienced team can help with everything from bookkeeping to business tax return filing whether you’re filing as a business owner or struggling to manage income from multiple clients. Learn more about their services online and call (608) 784-8355 to schedule a free consultation.