Comments on: Blog Income And Taxes

By: Article Checker

Article Checker — Fri, 06 Apr 2007 14:08:49 +0000

See, I didn’t really know all of that until I read this. Deductible business expenses — very helpful information, John!

By: Hope

Hope — Wed, 04 Apr 2007 16:49:45 +0000

How do you get that much advertising income from your blog? I bet it took you years to build up a regular following.

By: Adam Henningsen

Adam Henningsen — Thu, 29 Mar 2007 07:46:31 +0000

Yep, unfortunately we have to pay the taxes on this money, but the plus side is that you are making money on your own doing what you like and not working for an employer!! Plus taxes are good anyways to a certain extent.

By: Secure Hosting

Secure Hosting — Sun, 25 Mar 2007 03:25:32 +0000

Audits? You have nothing to worry about if you are being honest with the tax man and declaring your income, separate from the offshore corporation income.

By: Stuart Hannig

Stuart Hannig — Sat, 24 Mar 2007 22:34:22 +0000

Ouch, I’m not looking forward to taxes.

By: Cognoscente

Cognoscente — Sat, 24 Mar 2007 17:32:18 +0000

Great writeup John. For those of us looking to leave the rat race behind and start our own business venture, would you be so kind as to post about your views on the different types of business legal entities available (advantages/disadvantages), and why you chose a particular route? (i.e. S-corp, LLC, etc.)

I know it’s subjective and probably different in Canada, but I’m just curious to see what you (and maybe other net entrepreneurs) think.

By: Dave

Dave — Fri, 23 Mar 2007 13:40:24 +0000

I am going to get hammered by income taxes this year. :/ Not only did we start making good money on websites at the end of the year, but I had a banner year for my main business too.

By: knupNET » Around the Net 3/22/2007

knupNET » Around the Net 3/22/2007 — Fri, 23 Mar 2007 05:33:55 +0000

[...] Pay those taxes! [John Chow dot com] [...]

By: Kubiac

Kubiac — Thu, 22 Mar 2007 21:08:51 +0000

I could only wish to have that problem one day! But the deductions you could can offset alot of the tax bill. I have an LLC now and have my blog as property of that company.

By: Wealth Building Lessons

Wealth Building Lessons — Thu, 22 Mar 2007 17:24:32 +0000

you should def. consult a tax person in your state.

it might cost you a few hundred but a good one can save you thousands.

of course, they are not all created equal. i had to talk to 3 before the 4th one understood what i was trying to do and do a great job implementing it.