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.