BaseBlogging Accounting for Bloggers

Not only is it Christmas season, but don't forget it's almost tax season as well. There are some very good points being made in the baseblogging.net, which is normally a sports blog.

BaseBlogging Accounting for Bloggers:

The easiest structure is a sole proprietorship, and in this event they basically do nothing. All of their income and expenses are reported on Schedule C of their Form 1040. This is probably the recommended version if the blogger is making a small amount of money from their blog. Once you get into the thousands of dollars and especially if you have a network or several people writing for you, it might be time to put something a little more formal into place.

I never, ever, would have thought of this for my sports blog. I wonder...

he general rule for a valid deduction is that it has to be ordinary and necessary. I know this sounds pretty grey, but unfortunately it is. Things like baseball books, publications and annuals would definitely be valid deductions. If you have MLB Extra Innings, then that would probably qualify as well, as would MLB TV on MLB.com although here we’re getting into the grey area. XM radio, which now has audio feeds of most MLB games, could also be considered a business deduction.

Oh, looks like I'm not going to qualify this year:

The other thing to keep in mind is what the IRS calls “Hobby Loss Rules.”

All very good advice. I'd take a look, if I were you.