If you’re new around here, each Friday I write up a handful of lessons I’ve learned in my blogging-world that week. Thanks for stopping by!
1 – This week I filed my own taxes for the first time ever. (Well, with turbo taxes help, of course). They would have been incredibly simple(r), but I opened an Etsy shop this year, and had to declare that income. It wasn’t nearly as painful as I would have expected, but it was a big reminder about book keeping – especially expenses. This is something I will have to keep much closer tabs on next year.
2 – How do you keep up with your blog // or other small business // income and expenses? Luckily, I started the blog income so close to the end of the year that there was nothing to report on that end. But, next year things will get messier (potentially a whole lot messier!…more details to come!)
3 – The other thing that I was pleasantly surprised about was the ability to write off things such as portions of your house (if you have a home office) and portions of your bills (for where your home office is). Now, I am in no way what-so-ever-never-ever a tax accountant, so you should probably not take my advice to the bank – but using turbo tax I was able to figure out how to write off my expenses, and declare my small business income.
4 – How do you file your taxes? Have you found it more difficult with your own business? I kind of wish my personal business would simply print a W-2 out of my brain at the end of the year 🙂
Note – in order to help support the costs of blogging, my site occasionally contains affiliate links. When this happens – everything costs the same for you, but I get a little income as well. Thanks!