Do You Pay Taxes On Your Blog Earnings?

January 30th, 2008 • Related • Filed Under

I’ve just completed my first tax return and made my payment that includes the earnings from this site.  My personal return is usually quite simple, so this was the first time I’ve had to make a big tax payment to the taxman.

The majority of my payment was from money I’d made from this blog, and it made me wonder if I was alone in actually declaring my blog income and paying taxes?

I imagine that most bloggers don’t pay taxes on their earnings.  When my blog was only making a few dollars a month, then I couldn’t see the point of declaring my income.  However, once my blog passed a few hundred dollars a month in 2006, I took the decision to start paying taxes, as I didn’t want to run foul of the taxman further down the line.

I’m glad that I did decide to, as I think trying to hide $10-15k per month from the taxman would be quite hard.  I really don’t fancy going to jail like Wesley Snipes for tax evasion!  I have managed to reduce my tax bill a bit by paying for my ‘tools’ (PCs, consoles, DVDs, Music, Plasma’s, ISP, Mobile etc) through the business.  I’m also glad I did as having accounts for my blog (all the money goes through a company) has really helped me organise things like mortgages.

So, do you pay taxes on your blog income?

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About the Author

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Everton is based in London and has worked in the internet and mobile space for over ten years now, and before that worked in corporate strategy and consulting. He has a degree in Economics from Cambridge University, and currently runs the Portal and online operations for one of the largest ISPs in the UK. He also writes for Windows 7 News.

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There Are 18 Responses So Far. »

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  1. #18

    Comment by Stevo on 23 February 2008:

    I will do my first return this year - Amazon pay me in gift vouchers. Do they count as income which I will pay tax on?

  2. #17

    Comment by Everton on 12 February 2008:

    @Vino

    I lost all my files including my revenue tracker, so I never wrote the report at the end of the month. I’ve been debating whether I’m going to continue the reports as they don’t appear to be as popular as they used to be e.g. you’re the first person to ask about the missing report. I made around $10k in Jan.

  3. #16

    Comment by vino on 12 February 2008:

    What about MyBlogEarnings for january 2008?

  4. #15

    Comment by Ceglie Plurale on 1 February 2008:

    I don’t pay tax in Italy but my income are low.

  5. #14

    Comment by Everton on 1 February 2008:

    @movies

    Surely you have to pay taxes in India???

  6. #13

    Comment by Watch hindi movies on 1 February 2008:

    @pete

    Recently hitted 100 $ Mark in Adsense
    nd i m not located in US , so no taxes for me yet!!

  7. #12

    Comment by Pete on 1 February 2008:

    @Watch hindi movies

    “i dont earn that much to pay the taxex”

    Does the amount you earn really make a difference in terms of obeying the law and reporting your income?

  8. #11

    Comment by Watch hindi movies on 1 February 2008:

    i dont earn that much to pay the taxex
    ;)

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