So you are blogging away and spending money on scheduling systems, domain name, hosting the list really could go on. Yet I also hear a lot more about people looking at buying this stuff in the perception they are going to get this money back one day.
By the way I not here to scare you just want to help you realise the truth of this saying.
the truth is:
You will not get physical money back because if you could there be a hell of a lot more people blogging Click To Tweet I will tell you that. The wording of this is put quite wrong in my opinion but there is some truth to it. Just not in the way you are probably thinking.
As a new blogger I totally get you want this to grow and make you money. Yet when people say you can claim expenses back you can in a way.
So how do I get money back if I am not getting money back?
Surely this is just stupid and bit contradictive right? Well it goes like this. As a blogger you are technically running a business and when people look at it that way they do blogging better. Click To Tweet But back to claiming money. You need to be aware of what you spend and the goverment website (uk) can tell you all you are able to claim as business expenses as a self-employed person.
This means every new tax year you get your self assessment forms to fill out. Yes this is one unjoyful thing of running a business. You fill them out and if you are in profit you get a tax bill in debt you don’t. This is where you claim your business costings every year and when people say claiming back money this what they mean.
You don’t actually get physical money back you are just making sure you are paying the right tax legally.
Next time someone says claiming money back
Don’t think you will actually get money back but more determine how big your tax bill is. If you do it by the book you will be able to afford it anyway so don’t try cheating it. It really is not worth the fines you will get.
To sum it up when people say as a business or blogger you can claim your money back sorry but you can’t get physical money back. You are running a business and it all about profits and loss margins not getting any money back in your pocket per say.
Ok if you have gained more then you spent that is profit so is money in your pocket but not the money you have claimed back from your business. I be honest as a blogger profit making is not happening instantly it may take a while and a lot of sacrifices in life.
What is the one thing you didn’t realise before blogging was true or false?
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