DISQUS

David Risley: How a Problogger Handles Taxes

  • ShannonOD · 2 months ago
    The end of the year tax bill nearly kills me with anticipation so just this year I have started paying quarterly to avoid any unpleasant surprises and so that I never over-estimate my travel fund :-) But I agree on the CPA, I leave the headache to them :-)
  • Antti Kokkonen · 2 months ago
    I haven't seen too many online "money-makers" talk about taxes, so it was refreshing to see someone keeping it real :) Great post David!
  • Dave Doolin · 2 months ago
    If you start paying quarterly estimated taxes, make sure you reserve enough to deal with self-employment tax at year's end, which - to the best of my knowledge - isn't covered in the computations for the 1040 ES form. I found this out the hard way. It was unpleasant.
  • Steve · 2 months ago
    I think the office in the home is a big deduction when you have an office setup for blogging and online activities.
  • kumo · 2 months ago
    I hate filing up taxes. Still we have to do it. Different country have different rules when it comes to filing tax. We just have to study them. I think online income taxing is still very new to 3rd world country. Some of them don't even have to details on how online income tax.
  • Christian Russell · 2 months ago
    No doubt...use a CPA. Just don't even question it. Also don't question whether or not you should incorporate. Running a separate legal entity for your business is something any accountant is going to recommend, and for good reason. Get references, choose carefully, and keep them accountable, but use a CPA.