Tax Time

Debt.It’s that time. At least for us. Happens every year around my birthday. All the forms are in, and we’d just as soon get it over with. The sooner the better. Happy birthday to me.

Sigh. There are better things I’d like to do on my birthday than try to work out the numbers and flip through those depressing 1099s.

But if you’re a writer with the intention of turning this into a career, keep in mind all those wonderful things you can deduct:

  • Professional fees and dues
  • Professional services
  • Equipment and supplies
  • Equipment depreciation
  • Repair and maintenance of equipment (I include the cost of this blog domain)
  • Supplies (I include the stock photos I buy for my blogs, not to mention the ones for book covers)
  • Continuing Ed Classes (through conferences and colleges)
  • Business related travel expenses including lodging, meals, airline expenses, car rentals, and mileage traveled on your own car (be careful how you keep records on all this)
  • Postage and shipping
  • Advertising and marketing/promotions
  • Vendors fees (I frequently sell at festivals)
  • Designated office space of 300 square feet or more.

I’m sure there are others, but these should help you realize that if you don’t keep good records, you probably should. Whether you’ve published or not, you can deduct these for a while as the costs of starting a business.

 

About Linda W. Yezak

Author/Freelance Editor/Speaker (writing and editing topics).
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5 Responses to Tax Time

  1. Some day. I’d like to get there some day. *sigh*

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  2. Yes, records are very important. I kept diligent records when I owned my business. I am not using any deductions for my writing yet. Someday, if and when sales reach a point it would make a difference. Good luck to you on your paperwork. Congratulations you have enough to do deductions!

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    • I’m terrible at keeping records. That’s why I rely on Paypal, Kindle Reports, etc. so I don’t have to worry about too much. When we move and I get my office, I’ll get to keep everything in one place. Here, it’s scattered among four locations. So if it’s not “here,” then it must be here or here or here . . .

      Liked by 1 person

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