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

Writing A 1,000 Page Novel: On Page 500!------Writing Update!

 November 11, 2023 I am Half Way!!! I AM WRITING PAGE 500 TODAY!!! SO EXCITED!!!!! ALSO I HAVE 50 MORE PAGES TO WRITE, BY NOVEMBER 23, 2023....THEN I WILL HAVE WRITTEN 1,000 PAGES IN ONE YEAR!!!!! I AM LIVING PROOF THAT YOU CAN BE A WRITER......A SELF PUBLISHED WRITER......IF I CAN DO THIS.....SO CAN YOU.....WHAT ARE YOU WAITING FOR????? HAVE YOU ACCEPTED JESUS AS YOUR LORD AND SAVIOR???? JESUS IS COMING!! DON'T GET LEFT BEHIND.... LOOK UP AND CALL OUT TO JESUS....HE DIED FOR YOU JESUS SHED HIS BLOOD FOR YOU OPEN YOUR HEART TO JESUS... JESUS IS LORD OVER ALL

Blogging Around The World

The rain has past.  Yesterday was a very productive day.  I reread the draft of The Cross.  I reread the draft of The Way I like what I have written.  So now I just have to get my but in gear and edit like crazy.  For me that is easier than done.  I look at my desk which is piled up with legal pads, books and now I cannot find anything. I have blogged today.  Check out my other  Blog   I am blogging a scripture a day on the Devotional I am working on.  Jesus said, Go ye into the world, and preach the Gospel.  I feel that is what I am doing by blogging.  Believe it or not, I am getting other countries to my Christian Blog than I am from the USA, which is good.  So I am reaching people all over the world from blogging.  If you want to reach readers from around the world, might want to start blogging.   Blogger  is free and very easy to use.  I have been using Blogger since 2011.  I know a lot of writers have switched to  Word Press  It is a learning curve for me, and I am getti

GOALS FOR 2024

1.  FINISH 2ND ROUGH DRAFT OF MY 1,000 PAGE NOVEL....(ON PAGE 661) 2.  WRITE ROUGH DRAFT OF THE WATCHERS (500 PAGES) 3.  WRITE ROUGH DRAFT OF THE WAY (500 PAGES) THAT IS 1,350 PAGES. APROX......FOR NEXT YEAR...... NEXT YEAR I WANT TO INCREASE MY PAGE COUNT TO 10 PAGES A DAY....I HAVE BEEN AVERAGING 6 PAGES A DAY...SO IF I PUSH MYSELF.....MAYBE I CAN AVERAGE 10 PAGES A DAY...IF I DON'T TRY...I WILL NEVER KNOW HAVE ANY GOALS N 2024....LEAVE A COMMENT AND LETS GET THAT NOVEL FINISHED.... WE ARE WRITERS....SO LETS WRITE!!!!