One of Nudge’s clients, Nikki Parkinson of Styling You was recently interviewed by The Courier Mail on her blogging success. Emma was also featured in the article giving some advice for bloggers regarding their accounting needs such as GST and tax deductions.
Blogs are no longer on the periphery of the publishing industry, they have cemented their place online, with some blogs having readerships that dwarf traditional publications. So if you are thinking of turning your blog into a business, here’s a few tips from Emma around the accounting and tax implications.
- Choose a business structure and apply for an ABN
- Do you need to register for GST? This is compulsory if your 12 month turnover or anticipated turnover is at least $75,000.
- Keep good records: Does an expense relate to your ability to earn income? It could be a tax deductions.
- Invest in accounting software such as Xero, for easy and hassle free record keeping.
You can read the full article in The Courier Mail here.
If you are a blogger looking for accountants who understand your business, then give Nudge a call on 1300 068 343.
Nudge provides Accounting and Tax Services to a very large number of Clients located across Australia in a range of industry segments/sectors for example : On-Line Retail, Construction, Financial, Hospitality, Media, Medical and Professional Services.
Since Nudge became Nudge, I have had a fantastic time working with some of Australia’s best known bloggers (think Styling You and retro mummy) as well as Australia’s leading blogger agent, Lorraine Murphy from The Remarkables Group.
What has it taught me about bloggers? Their fun, unpredictable (in a good way) and each of them say they have the best job in the world. Why wouldn’t you want to work with people like this!
So in the spirit of working with bloggers and making things easier for them, Nudge are teaming up with Blog Chicks to run a webinar around what bloggers (current and aspiring) need to think of when coming on board the blogger journey.
While each blogger has their own style, we often get questions about when a blog starts to become a business (as opposed to a hobby)? How do you register with the ATO when they don’t even recognise bloggers as a legitimate profession? When do they need to start thinking about GST? Or what can you claim as a deduction for your tax?
We’ve got this all sorted, plus more. You can find more about this event here.