Skip to main content

Taxes for Self-Published Writers


ARE YOU PREPARED FOR TAX TIME?

If you are a self-published writer, you are a business owner.  Your products are your books.

Start thinking like a business owner.

Have you been saving receipts that are related to your writing last year???

If not, it is time to start for this year.

Consult with your tax person when you file your taxes and see if you can deduct expenses for your writing.

Are you getting royalty checks for selling your books on line or print books?  Have you spent money on promoting your writing?  Writing Courses?  Writing workshops?  These all could be tax deductable.

I have a folder that I keep all my receipts that are related to my writing throughout the year, then I give them to my tax person.

When choosing a tax person, make sure they are informed about the tax laws to writing.  If they tell you flat out that you can not claim your writing, you might want to find another one that is willing to work with you.

If you think of your writing as a business, you will start taking it more seriously.

Some items that I deduct:

Writing supplies:  ink, computer paper, envelopes, pens, index cards, sticky notes etc

Writing Courses.  I have taken a couple of writing courses throughout the year.

Book Covers:  I have purchased some premade book covers

Formatting:  If you paid someone to format you file.

Antivirus

Inventory:  Print books that I bought and planning to sell

Anything that is connected to your writing.

This is the beginning of the new year.  If you haven't thought of yourself as a business person, it is time you do.  You have a product to sell.  You are a business owner.

Follow me on facebook..www.facebook.com/diywritingcareer



Comments

Popular posts from this blog

Write No Matter What

I woke up and felt like a truck hit me.  I still turned my computer on and started writing.  That is the only way the story is going to get written.  Do I feel like writing?  Nope.  Do if feel like Blogging?  Nope.  I write cause that is what I do.  So I poured me a soda and let the caffine take its effect.  I have to get ready for work in a bit, I blooged, I wrote a bit, so I am still going in the write direction. I write no matter what.  whether I feel like  it or not. Have a great day. http://sharonleejohnson.com/

WRITING UPDATE: NEW MONTH

 LAST MONTH OF SUMMER....AUGUST....ENJOY IT WHILE YOU CAN....WINTER WILL BE HERE BEFORE YOU KNOW IT AUGUST 1ST....I WROTE 8 PAGES.....LAST MONTH....JULY.....I ENDED WITH .....241 PAGES I THINK THAT IS PRETTY GOOD....SO I AM MOVING ALONG....REWRITING MY 1,000 PAGE NOVEL LOTS OF WORLD BUILDING.....A LITTLE BIT OF RESEARCH.......SO IT IS GOING PRETTY WELL. I AM GOING TO TRY TO ENJOY THIS LAST MONTH OF SUMMER.... THE WORLD IS IN CHAOS.....AMERICANS ARE NOT EVEN SURE WHO IS RUNNING THE COUNTRY......JESUS IS COMING....ARE YOU READY????? TURN TO GOD...REPENT....BEFORE IT IS TO LATE! WRITE ONE WORD AT A TIME

WRITING UPDATE: LOOKING TOWARD 2025

 I AM ENJOYING THE LAST MONTH OF SUMMER HARD TO BELIEVE THAT SUMMER IS ALMOST OVER AND SOON WINTER WILL BE HERE...AND I WILL BE HUNKERED DOWN WRITING ALL WINTER....THAT IS MY PLAN. I WRNT TO THE DOLLAR TREE TO BUY MY 2025 CALENDARS A WALL CALENDAR AND A MONTHLY PLANNER CALENDAR I AM NOT HOPEFUL FOR 2025 I AM NOT HOPEFUL ABOUT THE ELECTION IN NOVEMBER MY HOPE IS IN JESUS JESUS IS COMING BACK I BELIVE IN JESUS CHRIST OF NAZERETH  I BELIEVE IN THE RAPTURE SO NO MATTER WHAT HAPPENS IN THIS PHYSICAL REALM I AM ALWAYS LOOKING UP TO JESUS MY EYES ARE ON JESUS I WILL WRITE EVERYDAY AS I WAIT FOR JESUS SO NO MATTER WHAT......I FEAR NOT......JESUS IS THE WAY....THE TRUTH AND THE LIFE THIS MONTH....AUGUST 7TH.....I HAVE WRITTEN 37 PAGES SO FAR WRITE ONE WORD AT A TIME .