We at 2chicksblogging.com are *NOT* tax experts, however, we think this issue is overblown and sensationalist. The IRS defines a gift as ““You make a gift if you give property (including money), or the use of or income from property, without expecting to receive something of at least equal value in return.”
We stress that for our blogging clients and bloggers we talk to, that you are not giving anything away. Our whole point is that audience attention, time, and “eyeballs” are all forms of currency, though not not money. When you contribute content as a serious, professional blogger, you are expecting a return of equal or more value than what you contributed. You expect to get a reputation boost, more eyeballs, and subsequent business because of your initial action (creating content for exchange.)
The bottom line: StinkyJournalism.org has uncovered a real hornet’s nest for both for-profit media companies’ business models and citizen journalists who must now examine how much work they have “donated” to any one media outlet over the past year.
via The Unspoken Peril for “Citizen Journalists” Surprise! You Owe the IRS Some Gift Tax!.
