Melyssa (@_MYCC on Twitter) asks when the best time is to start legally protecting your blog. I’m going to breakdown when you should legally protect your blog as a business and give you 3 steps to protecting your brand, and how to get it done.
WHEN TO MONETIZE
- Best time to create a LLC is as soon as you begin to make money from your blog.
- It forces you to take your brand seriously.
- EXAMPLE: Once I started making more than $1000 a year, it became important to pay my taxes on a quarterly basis.
- Tax Deductions: Website, Hosting, amount you paid for domain, wireless bill, home office, business cards, memberships, camera, lens, P.O. Box, accounting fees.
- Don’t overlook things such as travel. You can write off transportation, entertainment, meals, and hotel.
- Make sure you’re tracking everything. Keep expense sheets, that way it is much easier when speaking with your accountant.
- On a monthly basis, write down all of your expenses.
- DEFINITELY consult with a professional in regards to expenses once your blog starts bringing in money.
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