Tax Tips from John Chow
Seeing as we are in the middle of tax season, I think it’s only appropriate to get you as much info as I can. In this article, John Chow talks about how he runs his blog as a corporation and what tax benefits he gets because of it.
Now that we’re in the middle of tax season, I’m getting emails on how I structured the blog for income tax purposes. In my last post about blogging and income tax, I stated that if you make money online, you must pay taxes on it. While legal deductions can help lower the tax you pay, structuring your blog properly can have an even bigger impact on the tax bill.
- Read More -
Are you Foxy? Subscribe to our Newsfeed!
John Chow is a very respected and educated man so his tips should be considered indeed.
Comment by Warhammer Online — February 17, 2008 @ 12:57 pm
I wonder if there is a need for us to pay taxes from google adsense even though we have only earned some money from it and our country is not from US?>
Comment by Motivator — February 18, 2008 @ 11:50 am
Good advice. Its really important to understand how things works so you could be taxed as little as possible
Comment by david deangelo — February 18, 2008 @ 1:20 pm
I would assume that in order for you to be a good citizen, you would need to report it. But the question is, do you have to? If you live in a country besides the US, and you get revenue from AdSense, can you just not report it? Is there a way for your countries tax service to know that you received revenue from Google? Does anyone know the answer to this?
Comment by Jason — February 19, 2008 @ 1:27 pm