104: How Bloggers Should Handle Their Taxes and Accounting with Cathy Derus

How to track expenses, pay yourself, and set up bank account for your business with Cathy Derus. ----- Welcome to episode 104 of the Food Blogger Pro podcast! This week on the podcast, Bjork talks to Cathy Derus about tax advice for bloggers. How Bloggers Should Handle Their Taxes and Accounting Photographing, cooking, connecting, writing…these are typically the aspects of blogging we all love. Cathy, on the other hand, loves spreadsheets, tracking expenses, and talking to other bloggers about taxes. Cathy started her businesses, Brightwater Financial and Brightwater Accounting, as a way to help small business owners like bloggers navigate the confusing tax side of their businesses. It's a topic that is incredibly important for all bloggers to understand, and Cathy's goal is to make the process a little easier. From setting up a bank account for your business to tracking expenses, this episode is a crash-course to understanding taxes and accounting. In this episode, Cathy shares: How her diverse knowledge helped her launch her own practice How her blog helped her explore her interests and experiences The difference between accounting and financials When you should start expensing blog purchases Why you should have a separate business bank account for your blog How to pay yourself from your business' money How to put aside money for the IRS What an EIN is and why you should get one What quarterly taxes are and why they're important for businesses Resources: 063: Personal Finance for Business Owners with Jeff Rose from Good Financial Cents Brightwater Financial Brightwater Accounting Tax Checklist for Food Bloggers The Lively Show by Jess Lively 099: Sponsored Content and Getting Paid What Your Work is Worth with Danielle Liss Quickbooks Online Shoebox Ed Profit First Simple Numbers, Straight Talk, Big Profits Quickbooks Self-Employed Open for Business Follow Brightwater Financial on Facebook and Twitter If you have any comments, questions, or suggestions for interviews, be sure to email them to [email protected]. Be sure to review us on iTunes!