Mark Cuban has one (blogmaverick.com), The Federal Reserve has one (federalreserve.gov/econres), Bill Gates has one (gatesnotes.com), and some of the most popular media companies started as blogs – Gizmodo, Tech Crunch, The Verge, TMZ, and Business Insider.
Besides the fact that there is an endless number of successful people and companies that have blogs and have started as blogs, there are plenty of reasons as to why you should start a blog.
Even if you don’t dream of fame and riches, there are still plenty of reasons why you need to start a blog today!
Organize Your Thoughts And Self Improvement
The main reason why anyone should start a blog is the ability to thoughtfully put what is in their head onto a single article. Moving mental clutter out of your mind into a purposefully laid out blog post can take away a lot of the anxiety and stress. Writing can even be a great way for you to track your progress, set self-determined goals, and share what you are most passionate about.
You don’t have to write about personal finance like I do, but you can blog about what is meaningful to you.
It doesn’t really matter what you choose to write about. The ability to get your thoughts organized will be enough of a reward over the long run.
The link between writing and success has been proven time and time again. The ability to go back to previous articles and review what you wrote allows you to reflect on your current progress. The ability to write down your current goals and desires acts as a commitment device that will inspire and motivate your actions today.
Share What You Are Passionate About
Besides self-help, the next reason as to why you should start a blog is because of the ability to share what you are most passionate about!
So many of us share our latest vacation photos, what we had for brunch, and cute videos of our pets. All of this is well and great, but I argue we all have so much more to offer the world than another photo of the food we eat or another low-quality Coachella video from the audience.
I don’t mean to sound judgmental, but my point is that YOU have so much more to offer the world. Everyone has something they are passionate about. A good friend of mine once told me, “Good things must be shared.”
Maybe you want to share your latest vacation stories and start a travel blog, maybe you want to share your latest creations from the kitchen – start a food blog, or maybe you don’t have a passion – writing about your journey to find a passion can be your passion!
So, share your passion today! There are people in the world that have similar interests as you and would greatly benefit from whatever knowledge, insight, or content you are willing to share.
The opportunity to start a meaningful blog, vlog, or Instagram page is real!
Tax Deductions – Incorporate Your Blog
The last reason I have to start a blog, as mentioned in my last blog post, is for financial purposes. The financial incentives I am referring to are not even related to selling anything to customers or clients. What I am referring to is getting what is yours from the tax-man by ‘incorporating’ yourself!
Today, the average income tax rate is anywhere from %25-35 depending on which state you live in. If you file as a private citizen, then the expenses that you can deduct from your tax return are limited. As a corporate entity though, you can write off a much larger set of items that would be relevant to your business/corporation. And thanks to the new Trump tax cut on corporate income from %35 to %20, we all have an incentive to become incorporated since you would be taxed roughly %15 less on your income!
Incorporating your blog is as easy as filing an online application that costs $35 in order to get your federal tax id or Employer Identification Number (EIN). This simple move will save you thousands of dollars
Before you judge me and say that I am recommending people to cheat the tax system, I am not telling you to cheat. I am telling you to honestly put down any expenditures for your newly incorporated blog like any other large company in the U.S. would do.
Just look at Google and Amazon – arguably two of the largest companies in the U.S today. Both of these companies pay $0 in taxes! A big fat ZERO! They are generating billions of dollars of revenue yet seem to get away with paying nothing in taxes due to the loopholes built into the system. Now ask yourself, is that fair?
It is about time we smarten up and get what is ours.
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As always, thanks for reading!
P.S. The links for starting a blog on WordPress are all affiliate links that would help me out greatly if you decide to start a WordPress blog. The above is meant to be for general education purposes only and is not specific advice as I am not aware of your specific financial situation and/or risk tolerance. Please reach out to me the ‘contact me’ page, or leave your comments/questions in the comment section.