I have a quick question I hope someone can answer off the top of their head. If I run blogs devoted to certain topics/hobbies (and I do) and those blogs bring in revenue (some of them do) are magazines related to that topic/hobby deductible on my taxes as a business expense? I am thinking the answer should be yes, but since that’s what I would really like the answer to be, I thought I’d throw it out there.
I’m pretty sure you can not. I know if it is for a job that you work full time and get a W2 for, you can write off “subscriptions” to magazines, but…hmm, only example I can think of is my mom is a nurse and she gets one for R.N. and can deduct it. Since your magazines are probably for a hobby, and not an industry, e.g. knitting vs. nursing, I would say no.
they are deductible if they are related to your business, and you claim that business income. For example I used to use Richard’s subscriptions to mags like comp world and wired. If I were working as a knitwear designer, and claiming such income, I could probably claim the subscription of interweave and so on.