Jan 04 2009
Handling Income Tax On Your Online Earnings
I see this question asked very often: How should a freelance writer working online handle their income tax? Should they report their earnings? The answer is yes. All websites I write for do not withhold any part of my payments as taxes, so it is my responsibility to report these earnings. They are considered self-employment income.
If you write for several different sites, as I do, you do not have to report each one separately as a separate source of income; I don’t. I report everything I earn online as self-employment freelance writing income. Since all the sites pay me through PayPal, the earnings are easy to track: everything deposited to my bank from my PayPal account is my freelance writing income.
One Response to “Handling Income Tax On Your Online Earnings”
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Thanks for bringing this up. I, too, use this method to report my online income. All too often freelance writers ignore online income when doing taxes, and this can come back to haunt you!
Anne
www.permissionsplease.today.com