Paid posts with nofollow tag - can google still penalize me?

If I do paid post and mention in my post that it is a sponsored post, how does google view this? Every big website and blog does this as far as I know. Further, if I use nofollow tag on links on my post will that keep me safe? I need to know this. What will happen if I openly reveal that it is a sponsored post?

 

Well mentioning that it is a sponsored review should not cause you any problem if you are using nofollow tag on links.
If you don't use nofollow then Google might penalize you.

 

You are safe pal, don't worry.

 

Using nofollow tag will make it safe.

 

I think that should not be a problem from google's side.

--Ashish

 

But the thing is, how many would actually buy nofollowed blogreviews.

 

Good question. If they don't mention it explicitly then we can use it I suppose.

 

It would be best you let them know in advance, if your blog is good and you get good traffic then you can definitely pull this off.

 

Google have stated that it is safe to buy links as long
as they are no follow.