Things to claim on your taxes from your online earnings.

How about your rent/mortgage because your working from home? You can only claim a portion of whatever you used for business purposes, but it would still be something worth claimimg. You could also claim any other cleaning supplies you use for cleaning the computer or office area.

Might add the following also add the following to your list: insurance, the cost of the phone, office in home, other office supplies such as pencils, staplers, clips, pens, file folders, post-its, Scotch tape and erasers. Also computer repairs or maintenance agreement cost. Hope this helps add a few more items to your list.

In Canada, your entire computer system and replaceable parts like ink cartridges are considered an expense because technology changes so fast that it is an asset with 100% depreciation in the year it is purchased as long as you purchase it before the second half of the year (July 1). Remember if you are claiming to have a home business you can also deduct some of your car expenses, the amount depending on what you are doing and how far your travel. You may also be able to deduct some "entertainment" expenses, for example if you dine out with a client or colleague. Remember to ask your financial adviser, accountant or bookkeeper what the actual allowable amounts are.

In my state I have to earn at least 600 before I have to file. There are so many deductables that the government would owe you money. I think that you should have to earn more than two thousand before you have to report or file. Everything you use is deductable. Part of your house payment because you are using your home like an office. The internet connection. Your dest and chair as well if you just bought them. Any phone that is in your home that you may use for any part of internet earnings. Your television if you have to watch videos, as well as cd player if you need to listen to music. All parts of your computer. A portion of your gas and electric bill is deductable. Your gas that you use in your car because you have to mail things. Your deductions will depend on what you bought that year as well as exactly what you did to earn your money online as well. Any maintenance or upgrades to your computer are going to be deductable. As you see some items will be deductable one time and others will be deductable every year. Any doctor bills you encur because of typing too much is deductable. As you see the list goes on and on. And as you see there are more deductions than what you actually earned. That may not be good. I personally have not recieved one of these forms. I also have never had to file on my internet earnings either. I don't make a whole lot but I make enough to keep me happy. I wish you lots of luck with your taxes.

Wow - I can't think of anything that wasn't already mentioned but I am certainly going to save this discussion for next year, I've already filed and didn't take any deductions, just the standard.

Keep in mind, the more you try to "claim", the bigger the chance for an Audit. Try to stick to the essentials, don't just go off and go trying to claim every little thing!

What do you mean in your position ??? I didn`t know I could claim anything with it ... I live in Canada so it might be different

Personally it has been a while since I had to claim from online earnings, but should have too next yr. But since I have a Business that I do from my home both online and offline there is a lot of things I am able to use this yr. for sure. Some of them I should have used last yr. but never did, and not sure if it would be worth it to try and claim them now. But Yes, there are a lot of things you can deduct. I am in the process of getting mine done for this yr. and it is interesting to see all you can claim for.

I know it varies from what is new, etc. I have a business from home, so I need to find out all I can claim and deduct, etc. and what portion. It becomes really tricky in trying to figure out how much you can claim and deduct as you live at home, but it is true some of your expenses are Lights, heat, etc. Nothing I bought brand new for my Computers in 2011, but I did upgrade all of them to windows 7.

I too received a 1099 form to file my online earnings as well and the list you gave was great and very helpful. I did not realize all the deductions that I can claim other than the internet expense as well as my computer hardware and electricity. Thank you for sharing this list. I have a laptop so I could probably include gas/transportation costs since I use it away from home as well to earn money online. If you do some of your online earning away from home you could probably include those costs as well.

here in canada you claim for a percentage of your electricity used to run your computer. please email me I lost your email address when my computer crashed.

This is just a suggestion, but if you start keeping track of all of your online earnings through the year, you would not have to worry about waiting on the 1099. We have a few different businesses, and one of those is rodeoing. My son competes in rodeo and last year, he made several thousand dollars. I had already done his taxes when the 1099 forms came from the stock contractors. Because I kept good records throughout the year, and we file online, I already had the income reported on the Schedule C forms. Keep records of all expenditures and income.

I thought you did not have to claim the money if you did not make over a certain amount like $5000-$7000. Anyways those are all great deductions. Try your mousepad too.