Tax Writeoffs For Writers
As tax season creeps up its important for writers to remember that many of our costs can be deducted as expenses. There are a lot of stipulations and many of them vary depending on what state you live in. Last year I talked to a tax consultant and got the low down on what was acceptable in my state. He told me I can claim expenses for two years as self-employed but if I haven't profited from my writing by the third year I have to stop claiming it as a type of self-employment and change to claiming it as a hobby. Thankfully, I'm only working on my second year of claiming my writing expenses and I'm really hoping to sell my series by the end of this year and make that three year profit deadline! There are quite a few things that count as expenses. Think of everything you use for your writing; paper, ink, pencils, pens, a new computer or printer maybe. All those things are deductible. Once you start keeping track of those types of expenses you'll be surprised how quickly...