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Old 04-07-2008, 09:53 PM   #2 (permalink)
Trademark
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Join Date: Jul 2007
Posts: 615
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The networks will send you a 1099 that lists the revenue you've made with them.

You don't have to register an LLC to write off expenses. If you're a sole proprietor, you can write off anything reasonable (definitions vary).

Things to write off include (but are not limited to)...
  • advertising expenses
  • office supplies
  • meals
  • percentage of mortgage for home office
  • gasoline
  • utilities
  • services (i.e. CPA)
  • vehicle depreciation
Understand that you should run most of this stuff by a trained tax professional. Even CPAs have different definitions of what is a reasonable write-off. Some are milquetoasts and some are cowboys.

One CPA may say, "you want to write off WHAT?!" Another will say "Do it. I'll be there if you get audited."
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