Legal Issues That Could Destroy Your Blogging Business

Things to consider when blogging


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Blogging has become a fairly lucrative business if you know what you’re doing. Who would’ve thought that writing what’s on your mind and occasionally advertising products could be enough to make a living?

Everyone seems to be jumping on the bandwagon and some clever folks have decided to try and make it an entire business. By managing and hosting multiple blogs, people can hire freelance writers to churn out content for all of their blogs. The writers get content to put on their portfolio, and the multi-blog owner grows their websites with loads of content that will be ranked high on Google’s search engine to attract viewers.

However, running a blogging business is a dangerous game that could cost you more than you bargained for. There are many legal issues that come with blogging, and they are serious enough that they could shut down your entire operation and leave you bankrupt.


Disclose Paid Sponsorships and Endorsements


Bloggers need to let their readers know when they are being paid to write about something. There’s no way to avoid this rule. Although there hasn’t been a blogger yet that’s been sued for breaking this law, but there are YouTube content creators that have been sued for misleading viewers about websites that they’ve used. As a result, many content creators in both the video and blogging world have made double sure to let their audience know when a post or video is sponsored.

You have to label your intent clearly. Make sure that you clearly state you’re doing a paid sponsorship, no matter how off-putting it may be. You also need to come clean with any affiliate relationships you have. Always let people know that if they click the link below, you’ll get a small commission. Never hide that information, and always be transparent. Also, never claim to be a third-party. Your words can be used against you, and you’ll pay for the consequences.

If you’re ever in a tight legal spot, then never try to lie your way out or fix things yourself. Serious legal dispute resolution requires solicitors with experience in litigation, so make sure to seek advice.


Unless an Image Is Yours, Always Check the License


People think they can just take any image from the internet and use it for themselves. However, there are strict laws surrounding this practice and if you’re unlucky, you could end up paying a huge fine for your ignorance.

Always ensure that you link to the owner. This isn’t always sufficient, but it’s a good start and most photographers and designers are content if you link your readers their name or website. Make sure you use royalty-free images as well. You can look around on the internet for royalty-free pictures to use. A lot of places will charge you to use their images, but there are plenty of free sites as well.

If you’re unsure about a specific image, then always ask the creator or the site hosting it for their permission. If you’re lucky, you could build a relationship with designers/photographers and strike a deal with them so you can freely use their images. Many photographers want the exposure, and they’re willing to cooperate with content creators so you both get something out of it.


Becoming Self-employed – Understanding Taxes

Tax for the sole trader

The following article is a guest post and may contain affiliate links:
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Being self-employed is a great freedom, but it has its snags. Being more in control of your earnings means having to deal with your own taxes and saying goodbye to the cushy luxury of having it all automatically calculated for you. Failure to pay taxes can have nasty implications. If you’re thinking of starting your own business or going freelance and you’ve been mindfully ignorant of taxes until now, here is a quick guide to help you better understand the system.

Tax return


Instead of being deducted from you weekly or monthly wage, your tax will now all be paid annually. As a result, your tax comes out as a much larger chunk. The best way to deal with this is to regularly pay money into a savings account that will be used to pay your tax return.

You’ll need to keep onto all receipts and statements so that you have a clear idea of how much income you’re getting and how much tax you need to pay. This will also help guide you as to what to put on expenses.

Expenses


Expenses are payments that you have made related to your business than can deducted from your annual tax return. These can include the rent of any office, the cost of any equipment such as computers and a work phone, any repairs to these items you may need to make, any materials needed for your business and your vehicle (if it mainly used for business).

Knowing what to put on expenses can get complicated. For example, those working from home can claim a percentage of their rent/mortgage on expenses as ‘office space’, however the room you work in must be used solely as an office to get the full deduction. There is a lot of dependable IRS help out there for people who need help calculating their expenses.  

Insurance schemes & extra taxes


Whilst not mandatory, many self-employed workers can forget to keep on top of insurance schemes that were previously provided by their employer. In the US, such schemes includes pensions and health insurance. When going solo, this becomes self-employment tax, covering social security and Medicare. In the UK, healthcare is free, but there is still National Insurance, which will help you be eligible for pensions bonuses. Putting some money aside for these schemes can help you receive the benefits.

Extra taxes can sometimes occur as the result of self-employment. These usually arise when taking on employees and can include social security taxes, workers compensation, leave benefits, unemployment insurance and disability insurance. In the UK, employers must pay a compulsory liability insurance, whilst other forms of insurance are optional. This can make taking on staff costly, so you must be certain you are making enough income yourself before taking this step.

Combined with the other bills and insurances of modern life, keeping on top of payments can become confusing. However, it must be remembered that being self-employed gives you more of a freedom over how much you can earn as opposed to being an employee. Making the most of expenses can also deduct costs, so whilst it may seem more expensive to begin with, you’ll soon find yourself earning more so long as you’re sensible!

Easy Changes You Need To Make To Your Life To Stay Out Of Money Woe

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So many people are suffering from debt in their life. They make a few errors and then head down a path to money woe. Therefore, to ensure you stay on the straight and narrow, you need to be careful with your spending. Here are some easy changes you need to make to your life to stay out of money woe.

Always think twice before spending money


A lot of us rush into decisions when we are in store. But it means you might be spending more than you can afford on an item. And you will be left with regret when you check your bank later on. To ensure you stay out of money woe, you should think twice before buying anything. Decide if you really need the item. And if you do, you need to make sure it’s at the cheapest rate. After all, you might find it much cheaper at a different store or online. Once you are happy it’s something you need and can afford, then you can make the decision to buy the item!


Look into getting a different job


So many of us feel job dissatisfaction. And a lot of the time, it’s down to our pay. After all, it’s just enough to cover the rent and bills. Therefore, we end up with little money by the end of the month. And with little money, it’s easy to end up in money woe. If you are not happy with your income, now is the time to change it. Therefore, hunt down a different job which pays you a better rate!


Start saving every month


A lot of us aren’t putting away enough money every month. But to ensure you stay on the straight and narrow, you need to start building up some savings. After all, these can be used to bail you out if you do get into financial trouble. As we said before, deposit something in your savings account every month to avoid money trauma. And that way, if you do want to pay out for a holiday or a new vehicle, you have the funds there to do so!

Only get loans you can afford


A lot of people end up going wrong when they take out loans. They don’t read up all the details, so they get a loan out that they can’t afford. To ensure you don’t head into debt, make sure you sort out monthly repayments that you can afford to pay back. And only take out a personal loan at an amount you actually need. You don’t want to end up borrowing too much and have to spend years paying it back!

Don’t buy unnecessities


When we are at work, it’s so easy to go and purchase a coffee from the local barista. Or you might head to the shop to buy a delicious sandwich. But you will be surprised how these little unnecessities can soon add up. In fact, it could cause you to get into debt. Therefore, avoid buying these things on a daily basis if you want to stay on the straight and narrow.


And remember to always keep on top of your accounts, especially credit card statements. That way, you know how much you need to payback so that you don’t get into debt.



Disclaimer

Information on this site is not appropriate for the purposes of making a decision for carrying out a transaction or trade nor does it provide any form of advice (investment, tax or legal) amounting to investment advice, or make any recommendations regarding particular financial instruments, investments, or products.
Always seek advice of a competent financial advisor with any questions you may have regarding a financial matter