What part of our websites can we write off as a yearly expense?

Hello, I'm still a student, and do not have much experience in this business world.

I have made a decent profit this year and I was hoping to make a few write offs on my taxes.

Can I write off advertising, hosting, and domain name purchases as an expense?

I've looked around but apparently I'm a failure at browsing the web.

Any insight would be appreciated.

 

You dont mention your country. You should be able to write all of it off but talk to an accountant in your owncountry as laws vary

 

Ah sorry, United States.

 

you depreciate your site over a 15 years , all ads you can write off , hosting can write off, as well as names, an accountant is well worth the cost .........you will need to structure your business , I have 6 sites grouped as one due to fact 2 are loosing money , or each site can be it's own business........but check with a good tax man
When I started got a lot of different opinions ....not even the IRS is clear on some of this

 

Here is a great link on the tax write offs for internet entrepreneurs

Tax Write Offs For Home Business

 

Yes you can write those to offset some portion of your tax
+ cost for link building
+ cost of give out prize at contest

 

Thanks for the info, and the link.

 

Write it all off:

Domain names.
Hosting.
Design fees, maintenance fees, etc.
Link building.
Advertising expenses.
Internet access.
Refunds you issued or chargebacks you received.
Percentage of home used for business.
Percentage of utilities used for business.
Mileage if meeting with clients.
Payments to contract workers.

Always consult an accountant for the best advice.

 

Write everything off thats what I plan on doing, Your new computer (you have to use a special code though for new computer if you want to write it off in one year), your domains, your hosting, advertising costs, etc.

 

You can write off any and all expenses associated with getting your work done. Including hosting, advertising, credit card processing charges, domain fees, affiliate fees (you pay out), and the laptop you bought to create your website on and the software you purchased to make it with. You can even write off a portion of your mortgage or rent if you are a Sole Proprietor or LLC and your website is your job.

Consult with your accountant.

 

Best I've seen so far. +rep

 

I'm a CPA, so I'll share this thought... Probably you should amortize the domain name and your web site design over 15 years... E.g., if you spent $1500 in total, you should charge $100 a year...

But if the money you've spent on this stuff is modest (less than $200) you can probably write off in year incurred because it's so minimal.

Note: If you've gone out and spent, like some people, tens or hundreds of thousands of dollars on domains, you probably need to treat the domains as capital assets.

Also, final comment: General rule for US taxpayers (and this is statute, I think)... you get to deduct any ordinary and necessary expense. I.e., if it passes the giggle test, you can probably write it off.

 

Armotize you wind up losing money cause your deducting it over 10 years. Its better to just write domains and web design write off the bat. From what I hear the IRS isn't even have a clue really how to handle domains (as an asset or not) because they are behind the times.

 

you can put anything related to the business through the books.

 

You can usually write off the hosting costs, development costs(if you have any proof of such) and some of your time, if you are salaried via the company/website.