Welcome, Food Blogger Pro Listeners!
In Episode 104, Bjork and I discuss the importance of treating your blog as a business. One important step is to open a separate bank account and credit card for your blog.
From there, it’ll be much easier to track the cash inflows and outflows from your blog.
If you don’t use a program like QuickBooks Online or Xero, this free income and expense tracker will help you compile the necessary information needed to report your earnings and expenses on your tax return.
Hi! I’m Cathy Derus, a CPA who’s ready to help you feel confident about your personal and business finances so you can get back to doing what you love. For me, that’s my family, cupcakes, and craft beer. Read More…
So can you deduct the cost of food purchased for recipe development?
This checklist will help you gather the necessary information needed to report the earnings and expenses from your food blog on your tax return.
Includes a discussion of whether your food blog is a business or a hobby, common sources of income and expenses, where to report your blog’s net income on your tax return, quarterly estimated taxes, Form 1099-MISC, and more.
It does not cover every tax situation, so use it as a guide in conjunction with your prior year tax return.