All of you know that I am hosting a contest on our Famous Bloggers and Making Money Online blog, and our Prizes are getting higher and higher as our Sponsors are so kind and doing a great work on this contest, so I am not afraid of selling my furniture or anything from that- I hope not, even it’s still new and I won’t let anyone take it from me. I just thought about it because sometimes I got excited with this Best of the Best Famous Bloggers contest, and I am getting crazy like I want to spend more money on it, specially the cash prizes, but I really don’t want to be the blogger who sold his furniture to pay his taxes, so .. I am keeping asking my self.. Should I stop thinking this way?!
Do the New FTC Guidelines Affect me?
I have no idea yet! But guys, I came across this great post by Kristi about the New FTC Guidelines, I am not in the mode of 100% understanding this new FTC Guidelines, and I am not sure if it has any relationship with my blogging earnings and my situation as a blogger, but I think you all must check and read it, and if you understand anything tell me because I am a little confused about Laws here. All what I did is that I changed my information and updating my Taxes situation on all my earnings accounts to avoid any possible problem in the future. But I am wondering if someone earns from my blog contest, and I send him cash via PayPal, in this case I am spending and he is earning, so what If I am earning by the same way? (What is the situation of blog contest prizes?)
Who is going to surprise me by the end of the year?
I believe also that my bills are higher than my earnings, and it will be the same for some time until I can improve my blogging and advertisement earnings, I already pay taxes for my sponsored reviews, also Google AdSense has my Taxes info. So who is going to ask me for more taxes? (Just wondering!)
I really don’t want to be the blogger who sold his furniture to pay his taxes. Anyways maybe the title of this post will keep the Taxes people away from here
{ 26 comments… read them below or add one }
That image is perfect. Taxes make me crazy. When I think about how much it REALLY costs for each employee — and how much we could be paying our employees and how many more we could hire, if the taxes were reasonable — it baffles me.
Want real “job creation”? Give people a payroll tax holiday if they hire new workers.
.-= Alison Moore Smith´s last blog ..Brad the Builder – He Can Do It, Yes He Can! =-.
@Alison Moore Smith, Well.. let’s see what will happen!
Hesham, don’t worry. I prepare taxes for living, I will do yours for free
I will get the interview back to you as soon as I get time…
.-= Zahid Lilani´s last blog ..Mashable’s Twitter and Facebook Disconnect =-.
@Zahid Lilani,
I may need to chat with you also.
.-= Dennis Edell´s last blog ..Simons Running A Contest – Over $800 In Prizes! =-.
@Zahid Lilani, LOL! that’s cool man!
I have seen that post going around for some time the full understanding you need to get from a lawyer or an accountant however i must remind you america is a country that take taxes seriuosly but for the prizes as long as you haven’t received any endorsement for any thing from these sponsors you need not worry for now don’t sell anything
.-= lawmacs´s last blog ..More Traffic or Better Conversation =-.
heshaman you can check this website out for further reference http://disclosurepolicy.org/generator/bloggers
@lawmacs,
Does this cover all the new FTC regs?
.-= Dennis Edell´s last blog ..Simons Running A Contest – Over $800 In Prizes! =-.
@Dennis Edell, I think it’s a very nice way to create your policy page. At least you will make them happy with something!
@Hesham,
lol true, thanks.
.-= Dennis Edell´s last blog ..Simons Running A Contest – Over $800 In Prizes! =-.
@lawmacs, Great.. thanks for the help.. I am heading to create a new policy page now!
Oh taxes, can’t live without them, can’t kill them, hehe. Anyway, I always had some problems trying to figure out why some people pay taxes over something they “win” on the internet. If winnings are earnings, then the sponsors can also use their sponsorship as expenses and be tax deductible, LOL…
@DiTesco,
Gambling winnings are taxible, I wouldn’t be surprised if these were also.
.-= Dennis Edell´s last blog ..Blogging Halted Here – Don’t Despair, This Is A Good Thing! =-.
Ack! Taxes! I’ll bet many aren’t even thinking about that (outside of Holly, of course)
Thanks, Hesham!
.-= Heather Kephart´s last blog ..Interview: DiTesco of iBlogZone =-.
Taxes always make me to think in a different way as how much crutial role they are playing in the life of employee.
Gutes Thema. Bin aber nicht ganz deiner Meinung, aber das ist ja auch kein Diskussionsforum hier. Bleib am Ball.
Its about that time of year for tax prep. Do you know that You may be able to claim a tuition deduction of up to $4,000 of qualified education expenses paid during the year for yourself, your spouse, or your dependent. These are kind of things that people don’t think about. Good blog!
FTC is only catching the big sharks. If you aren’t scamming people or putting up fake testimonies, don’t worry about it Hisham!
-Kai
Hesham, haven’t seen You for ages..Keep blogging!
@cnc, I am coming back
Nowadays everything it’s taxed …what’s next ? Taxes for our breath ?
.-= NiceBlogger´s last blog ..The Top 6 Mistakes to Avoid When You Start Your Blog =-.
Taxes suck, but the UK has the worst taxing in the world in my opinion. Love to get out of this hole
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Seven Billion Dollar Networker University
The government take the piss when it comes to tax, why should we pay such a high rate of tax? Where does this money go? They just seen to blow the money on unimportant things and projects. All the victims that were left homeless after the hurricanes where were the government then? Priorities are all wrong in my opinion.
Oh my gosh..Again increase in tax.
Taxes. Taxes. I think every move we take are getting taxed. It’s kinda hard to accept but we are living the world of taxation where everything has their corresponding value. I’m into resell rights and I’m paying huge taxes. good thing, i earn good.