How good does it feel to finally say you’re done with your income taxes and they are turned in? I’ll be honest: I wasn’t looking forward to it this year.
We had a lot of activity in the MMD household last year: Selling stocks, earning dividends, and the biggest one – having blog income to report. I thought for sure I was going to have to finally pay to have someone else figure all this out for me and prepare my taxes.
But thanks to a lot of help from my friend Lance over at Money Life and More. I got it under control and made it through. At least I think I did … If I get a knock on the door from the IRS, then you can disregard this.
I will say that in terms of reporting my blog income I think what helped was keeping track of everything throughout the year. This includes every transaction of income, Paypal fees, commission, hosting fees, and even Internet service expenses.
Overall, because you don’t pay income taxes on this stuff throughout the year, it resulted in a big decrease in my usual tax refund. But when you put the loss in perspective with how much extra income the blog and financial investments yielded, that makes it all worth it.
I was really impressed with the warm attention and interest everyone expressed
in my Niche Site project. Now I just hope that my site meets all those expectations. I will have a post about my site on Monday where I will reveal it and go through my plans for it.
(Hint: If you were savvy, then you’d know that I actually already revealed it in one of the posts this week).
Operation de-over-optimize is progressing along. I finished January last weekend, so now it is time to move on to December.
Interestingly as I go back through to my older posts, I’m noticing that some of the internal pages are at a PR4 which is higher than my root domain being at a PR3. I realize that all this means is that a significant amount of link juice is being passed on from other sites linking to that page directly. To capitalize on this, throughout my updates I’m going to make sure that I link back to my homepage from those high ranking internal pages.
If you’re looking to help out your own PR, you may want to look back at your own pages and see about doing the same. Having a nice toolbar like SEO Quake installed in my browser really helps this process out because I can then quickly see what each page is ranked at the moment I pull it up.
Other Bloggers Who Got Their Income Taxes Done: