| Web advertising is it write off? |
|
|
|
|
|
xboxundone
Senior Member
Cash: $ 67.83
Posts: 796
Joined: 19 Sep 2004
|
| Web advertising is it write off? |
 |
|
Ok I am still somewhat new to the making money online with the web but i am being somewhat successful.... with my few ventures i should consisitantly bring in over 600 a month with spikes into the 1000 range....
My question is I do not have a business registered but I am spending money on advertising for these can that be counted towards advertising expense or something as a write off? or would i have to get a business license to do that as it is really a sole proprietorship (sp) .... any insight or advice would be appreciated... as I spend anywhere from 60 to 100 a month in advertising.
|
Tue Apr 26, 2005 12:33 pm |
|
|
Andrew
Admin
Cash: $ 460.25
Posts: 1695
Joined: 02 Nov 2003
Location: Texas
|
If you write-off the ads, you gotta report the income, but then you had to report the income anyway.
I don't think you have to have a registred business, just consider it self-employment income/expenses.
Maybe someone else will have a better answer...
|
|
Tue Apr 26, 2005 3:49 pm |
|
|
bmg1227
Full Member
Cash: $ 10.38
Posts: 50
Joined: 27 Apr 2005
Location: Chicago, IL
|
I asked a similar question to my tax person this year. Most affiliate programs and Google make you give them your SSN. This way it's all reported to Uncle Sam. They usually send you a form for you to use (similar to a W2). Make sure you report your income, otherwise if you get audited you'll be in big trouble.
As for claiming advertising costs, yes, you can deduct it. I, too, am operating as an individual, not a company or corp. All you need is a printout of your advertising costs. (In my case it was simply a year end printing of my Google AdWords account.) H&R Block simply deducted the amount I paid in advertising.
Hope this helps! (edited to replace mistyped word.)
Brian
Dot Com Men - Find out what men really want to know...
|
|
Thu Apr 28, 2005 2:44 pm |
|
|
xboxundone
Senior Member
Cash: $ 67.83
Posts: 796
Joined: 19 Sep 2004
|
Thanks for the info looks like i will get some writeoffs then THANKS!! 
|
|
Fri Apr 29, 2005 1:17 pm |
|
|
|
