If you haven’t heard yet then you may be prepared for a shock, that is if you are a product review blogger. I just recently found out that we have to claim our Product Reviews as income, now that’s not to say those of you who review a product here and there wouldn’t be able to get away without doing it but for those like myself who review a lot of products each year, well we will not be so lucky.
After reading a post and watching the YouTube videos found in the post called Do I Have to Pay Taxes on My Reviews? I realized that I may just be in for a paperwork nightmare. In all reality I compiled the list very easily since all of my reviews are under one category on my site. After compiling my list I organized it within an Excel spreadsheet and printed it to give to my accountant. We will see what damage this will do to our tax refund this year, but with three kids and being a home owner I am hoping it doesn’t negatively affect our tax refund this year.
So did you know that we have to claim product reviews? This is my first full year as a blogger so I didn’t know until now.
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(27 comments) says:
Fortunately, I do not have to go through this since I am not in th US and that I do not do any product reviews at the moment. But it is good to get everything in order, which will make filing much easier for you later. I hope it won’t negatively affect your tax refund this year too.
.-= BK´s last blog ..Loving and Appreciating Our Loved Ones =-.
I have yet to do any product reviews, but I would have never thought it had to be claimed for tax purposes. Good information to have. You definitely don’t want to tick off the IRS.
Thanks for stopping by today.
.-= Mrsbear´s last blog ..Teen Angst, Karma, and Other Fitting Room Disasters =-.
I know, bummer huh? This is my first year blogging as well, so I have never had to worry about this either. I wish I would have been more organized and kept track of everything better. I can easily look everything up on my blog, but it may take some time to figure how much everything is worth. Frustrating!
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Product Reviews As Income
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New Blog Post Product Reviews As Income http://bit.ly/a2DIK5
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(12 comments) says:
Ouch, ouch, ouch. Why? Why? Why? Though I didn’t do a lot of reviews last year, this will be my first year claiming it and like you, I would have to see how this affects our refund. DOn’t they have a minimum amount of product to claim as income? Honestly, the ones we do review doesn’t really amount that much to be considered as income, ugh. It should just even out with the effort you spent writing that review. Thanks for sharing this.
.-= Young And Fabulous´s last blog ..On Young And Fabulous: The Core Energy Coaching =-.
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