Tax Tips For Bloggers #MaxYourTax

Disclosure: This shop has been compensated by Collective Bias, Inc., and its advertiser. All opinions are mine alone. #MaxYourTax #CollectiveBias

It's that time of the year...tax time! As a blogger, I used to get super confused about what documentation I needed to prepare my taxes but now I have a good handle on what I need to keep track of to make tax preparation easier. First thing I did? Look for the lowest priced unlimited plan for a smartphone. I wanted a phone dedicated just for blogging and boy has it been a lifesaver for record-keeping come tax time! 

My blogging phone is a ZTE ZMAX Phablet. Since it's a phablet, it has a big touchscreen (5.7 inches) which I needed to be able to see the documents I was working on but it's not so big that I can't fit it in my hand. I want to share a couple record-keeping tips I have learned along the way so you can be more prepared for tax time. I am not a super organized person but I am all about convenience and using this phone to keep track of paperwork has been super convenient. First thing, download a spreadsheet program, my choice is Google sheets but you can also use Excel. Then I create a spreadsheet called Expenses and one called Income. 

It is very important for bloggers to keep receipts of everything purchased whether it be food for a post, camera equipment or advertising. When I get a receipt at a store, I put it in a pocket in my purse. Once a month, I take out all my receipts, take a picture of it with my phone and then put the receipts in a box. This way I have two records of the receipt just in case I lose one. 

As a blogger, you are allowed to deduct expenses that are considered necessary to your profession. If you paid for advertising, supplies for a post, office furniture, electronics, insurance , etc., that directly relate to your business, you can take those expenses off the income you earn as a blogger. If your office is in your home, you may be able to deduct some of your household expenses as well, including rent and utilities. You can ask your accountant for more detailed information on this but it's always good to have a prepared spreadsheet that you can show where all your expenses are gathered in one place and by category. 

Working on a spreadsheet on your phone is easy. Create a category and type in the amounts as you go or at least once a month. Use one of the addition formulas to keep a good sum of what you have spent by category. 

My cummulative spreadsheet for 2014 looks like this. Now I just take this spreadsheet, my income spreadsheet, along with any 1099's I might have received, to my accountant and tax preparation goes by much easier. TIP: Not every company you work with is going to send you a 1099 so make sure you are tracking your income by company. Make sure to include gift cards you receive as payment as well, they count as income.

I prefer to keep records on my phone because I can sync the files to my email service and access those spreadsheets anywhere. It has worked for me and maybe can work for you too. I purchased my ZTE Zmax phablet at Walmart for $179.00, a great price for a smartphone! My monthly plan is super inexpensive at $29.88 and includes unlimited talk, text and data service plan with 500MB of 4G LTE data. 

Walmart family Mobile displays are in the entertainment section of your local Walmart. Stop by today and check out all the phones available. If you are getting a tax refund, it might be the perfect time to switch over to Walmart Family Mobile!

I've shared my tax tips and now I want to hear yours. As a blogger, how do you get ready for tax time?