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.

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