I have been running a small website for 10 years now as a hobby.
Last year i have finally started making some profit.
Profit from website sales. 80$ for the whole year
Profit from ads on my website $200 for the whole year
So my question is. Do i have to claim this on my taxes? Is it even enough to claim? Can they even tax this small amount.
My other question is. My friend told me i should think about registering my hobby as a small busines. He said since i am making a small profit. I can claim my internet and hosting costs.
What percentage of my internet can i claim? 20%? and my hosting. But since i only make around 200 a year i can't claim more than my profit. 200 In my case.
Help! Thanks.
Last year i have finally started making some profit.
Profit from website sales. 80$ for the whole year
Profit from ads on my website $200 for the whole year
So my question is. Do i have to claim this on my taxes? Is it even enough to claim? Can they even tax this small amount.
My other question is. My friend told me i should think about registering my hobby as a small busines. He said since i am making a small profit. I can claim my internet and hosting costs.
What percentage of my internet can i claim? 20%? and my hosting. But since i only make around 200 a year i can't claim more than my profit. 200 In my case.
Help! Thanks.
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