Thursday, April 24, 2014

Re-creating missing receipts

March 20, 2012 by  
Filed under Blog, Writing Business

Have you ever lost an important tax receipt? I accidentally deleted a folder in my inbox one day. You know the one… the one where I file all of my receipts from Amazon. Not a great move, considering I need all of those receipts for my taxes. Or how about the day when my lovely [...]

Hobby Loss interpretation for writers

March 13, 2012 by  
Filed under Blog, Writing Business

A lot of writers wonder if their writing business will be considered a hobby by the IRS. The IRS has specific guidelines for determining whether or not a business is for profit, but some of the rules can appear confusing, especially as they relate to writers. While the following list can’t replace sitting down with [...]

Do I need to file taxes as a writer?

March 6, 2012 by  
Filed under Blog, Writing Business

Tuesday are Tax Tips Tuesday here for the next month. Need more relavent information on writing and taxes? Click on the tag Tax Tips Tuesday or click HERE!     Do I need to file taxes as a writer? The simple answer is it depends. Here are a few considerations in deciding whether or not [...]

Tax Tip Tuesday: Common Direct Expenses for Writers

February 28, 2012 by  
Filed under Blog, Writing Business

Writers work in all different genres and write for a variety of media outlets.  Some of us are business writers, others create romance novels and many write articles for magazines or copy for web sites.  Putting words into print is our profession, but dealing with the financial aspects of our writing business can be challenging. [...]

Tax Tip Tuesday: Bookkeeping & Record Keeping for Writers

February 21, 2012 by  
Filed under Blog

Bookkeeping is an essential part of the business of writing and includes storage of receipts, invoices, statements as well as all the required documents to substantiate both income and expenses. Record Keeping Options for Writers To justify expenses, it is important to establish a system of record keeping that works for you. Some things need [...]

Tax Tip Tuesdays: Automobile Expenses and Deductions for Writers

February 15, 2012 by  
Filed under Blog, Writing Business

With taxes about a month away, many writers are confused as to what expenses are tax deductible. When it comes to your automobile, here are some guidelines. Automobile Expenses for Writers Driving to the local office store to purchase writing supplies can generate a tax deduction with proper documentation. This is what you need to [...]

Tax Tips Tuesdays: Business Meals for Writers

February 7, 2012 by  
Filed under Blog, Industry

Business Meals for Writers Writers may choose to meet with their agents over lunch or they might arrange to meet a subject to interview at a local bagel shop.  The cost of the meal can be a tax deduction with proper purpose and documentation. 1. The primary purpose of your business meal must be related [...]

Keeping Track of Business Expenses

January 10, 2012 by  
Filed under Blog, Industry

Bookkeeping is an essential part of the business of writing, especially identifying and tracking expenses. Business expenses are considered an operating cost.  The more legitimate business expenses that we can document, the lower our tax payments will be. Ordinary and Necessary Expenses for Writers: The Internal Revenue Service (IRS) requires that our writing expenses be [...]

The Financial Side of Writing

January 9, 2012 by  
Filed under Blog, Industry

Writers work in all different genres and write for a variety of media outlets.  Some of us are business writers, others create romance novels and many write articles for magazines or copy for web sites.  Putting words into print is our profession, but dealing with the financial aspects of our writing business can be challenging. [...]

Organizing Your Writing Business for Tax Season

January 3, 2012 by  
Filed under Blog, Industry

Writers work in all different genres and write for a variety of media outlets. Some of us are business writers, others create romance novels and many write articles for magazines or copy for web sites. Putting words into print is our profession, but dealing with the financial aspects of our writing business can be challenging. [...]

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