Yusra3
VIP Contributor
When you start making money from your blog, it's good to know that the IRS will eventually want to get their hands on some of that cash.
But there's a good chance you won't have to pay taxes on your blogging revenue until years later!
In fact, most bloggers don't have to pay any federal income tax at all for the first three years after they start publishing online. If you don't have to pay income tax during those first few years, what does that mean? It means that any money you make while you're not paying taxes is "unearned income" and therefore not subject to federal income tax. Unearned income is treated differently under the Internal Revenue Code than earned income. for example, if your employer pays you $100 per hour but only pays half of it in wages, then half of your $100 per hour earnings aren't counted as part of your salary or wages.
Therefore, if you've made any income through blogging in the past few years but haven't yet filed any taxes on it, don't worry about paying taxes just yet! It'll be awhile before your earnings become taxable and even longer before they get taxed at all.
But there's a good chance you won't have to pay taxes on your blogging revenue until years later!
In fact, most bloggers don't have to pay any federal income tax at all for the first three years after they start publishing online. If you don't have to pay income tax during those first few years, what does that mean? It means that any money you make while you're not paying taxes is "unearned income" and therefore not subject to federal income tax. Unearned income is treated differently under the Internal Revenue Code than earned income. for example, if your employer pays you $100 per hour but only pays half of it in wages, then half of your $100 per hour earnings aren't counted as part of your salary or wages.
Therefore, if you've made any income through blogging in the past few years but haven't yet filed any taxes on it, don't worry about paying taxes just yet! It'll be awhile before your earnings become taxable and even longer before they get taxed at all.
