Earning Money on Blog Advertising? You Still Need to Pay Taxes.

Tweet

According to Accounting Today, a blogger was recently convicted of filing a false income tax return because he failed to report income earned from his blog’s advertising revenues. For 2006, 2007, and 2008 the blogger, allegedly, underreported gross receipts from advertisers, which resulted in failing to report nearly $142,000 to the IRS.

As we head into tax season, and you begin to pull together documents for your accountant, it’s important to remember that you must report all of your income. This includes, income earned from advertising, eBay earnings, and gambling.

For more tax tips, read:

Year-End Tax Planning | C-Corp Income – Accelerate or Defer?
Tax Legislation Knowns and Unknowns
Candidate Comparison | How Each Candidate Will Affect Small Biz