Rules Of Blogging in 2012 For Myself
I have made a decision with myself to keep some things private, mainly relationship status,…
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.