Now that I can put this tax year behind me as far as my 2007 income taxes are concerned I have to tell you that one of the benefits of having one's own business is that you are able to deduct a lot of things that are considered business expenses!
Since I have earned money from adsense there are a lot of things that I have been able to deduct as far as my blogs and internet services are concerned.
You can also deduct things such as computer supplies, advertising costs and much, much more!
I do have to say that I hate the "self-employment" tax part of filing my income taxes because any income you make over $400 will have a self-employment tax!
I hate paying money! However I do love MAKING money!