“A Tribe is a vibrant community featuring content created by bloggers, photographers and videographers.”
Each Monday at 9pm EST @AtomicReach hosts #AtomicChat – a twitter chat on Content Marketing. I’m proud to announce that I’ll be the Guest Host this week, talking about blogathon and blogging in general. I would LOVE to have some of my participants attend!
If you need guidance on how to attend a twitter chat, let me know! You can always reach me at email@example.com
I hope you had fun. I will be tallying chances for the prizes tomorrow and then will pick winners and start emailing. Please watch your emails so you can tell me what prize you want so I can contact the next winner.
Also please fill out the feedback survey.
Okay so when you are done, please consider writing up one last post on your blog about the blogathon. It’s a wrap up type post. Tell us how you did. Did you make your goals? What was your final blogging time? What did you learn? Come back and link it up.
NOTE: IF you say how long you spent blogging in a POST that you LINK up, I will give an extra chance to win prizes to the person who spent the most time blogging (Be Honest!) But you have to say it in a linked up post.
I’m sure you are all wondering so, The next Biannual Blogathon Bash will be…
For now I’m keeping it 72 hours. If the majority of people don’t like it that long, I may change it for 2013. Normally the blogathon will be January and June. This year’s Winter one was late so normally you’d have longer to wait between blogathons.
Be sure to subscribe to the blog (and/or twitter account) to be notified when signups open for the Summer Blogathon. Our mascots will be making a debut then!
Please take a moment to do the survey so we can improve the next blogathon. Doing so will get your two more chances to win! You must do it before 8am March 12 to get your 2 extra chances to win but even if you miss that, you can still fill it in!
Just in case someone wants to provide anonymous feedback, go here too.
*This is a Guest Post by Tina of H&R Block.
Congratulations, you started a blog. Or perhaps you have a blog and the traffic has started to pick up. Or perhaps your blog is starting to earn more money and you are already planning retirement. At what point does your blog stop being your hobby and become a business? The simple answer is that once you start earning money from your blog, you are a business in the eyes of the Canada Revenue Agency.
There is a misconception that you need to earn a certain amount of income before you have to report it. Unfortunately, this is not the case. The CRA wants to know it all. They post no minimum requirements before you need to report business income. So if you are selling ads or accepting merchandise in exchange for a review, then you need to file a T2125 Form as part of your personal return.
The T2125 Form allows you to report your business income as well as reasonable business expenses you incurred to earn money. It may be tempting just to write your income on Line 104 on your tax form as “other employment income” but the CRA has been reviewing these types of entries and asking people to file a T2125 instead. If you decide to go the Line 104 route, you cannot claim your business expenses.
Claiming business expenses helps reduce your tax payable. And you can earn up to $10,527 federally in 2011 before you have to start paying income tax, so if you only earned a small amount, you aren’t facing income taxes. If you earn more than $3,500, you will be responsible for the employer and employee portion of the CPP premiums. But reporting your income will help you build contribution room for your Registered Retirement Savings Plan (RRSP).
Your business expenses can add up. If you only have one Internet connection for your house, you will not be able to claim the entire expense on your business. The CRA assumes there is some personal use and you should track your business versus personal use, but you can claim a portion of your Internet bill as a business expense. And if you have a dedicated corner of your home for blogging, your home-office expenses can add up. The amount you can claim will be based on how much space your office takes up in your house. Your computer, cell phone and office supplies are also expenses that you may be able to claim.
The tax man will expect you to report merchandise or services you have received in exchange for writing a review. If you are receiving unsolicited swag or press kits from PR people, this does not need to be reported. However, if you agree to let someone advertise on your blog in exchange for the latest baby supplies, the value of the exchange needs to be reported. Bartering does not mean you can avoid the CRA.
And if you decide your blog is a hobby and not a business, you may want to review the case of the eBay PowerSellers. After a court battle, eBay had to identify these high-volume sellers so the CRA could review tax returns. The goal was to ensure PowerSellers were reporting their income accurately. The CRA does not care about garage sales or the occasional eBay listing, but it considers PowerSellers to be operating a business.
The Internet is increasingly becoming a business platform, and in step with that the CRA is taking a far more serious approach to people who make a living online.