IT'S ALMOST TAX SEASON, ARE YOU READY

Every year I post about tax season.

Every year I get asked the same question.

Do I have to itemize my author expenses?

The real question should be, why AREN'T you itemizing your author expenses?

Whenever you do anything as an author; you should have a small notebook that you keep in your "author bag" and in your car. (You DO have an author bag, don't you)  More on that in a different blog.

So when you bought your own 'stock' of novels; you kept those receipts, right? Write them off

When you drove over 100 miles for that book signing; you took note of your mileage and gas, right?

When you paid for those conferences and workshops; you did keep those confirmations and receipts; right?

When you bought those comfortable shoes; that you ONLY wear for your book signings. Because you don't sit down while you are at an event; except to sign your novel. You did keep that receipt, right?

See, there are  a lot of hidden deductions that you have.

What about that new laptop or desktop that you bought to only do your novels on. How about when you turned that extra bedroom into your writing den, you do know that part of that can be written off.

Now, I am NO TAX EXPERT but I do know that most things that require payment, should be done separate from your daily and household budgeted items. I also know that they can be written off but you need a TAX PROFESSIONAL to do that for you.

So; are you ready for tax season?

If you are not; begin by finding those receipts that you can easily put your hands on. Then after you do that, get yourself a small notebook that you can keep with you at all times. 

You never know WHEN a deduction may happen.

ARE YOU READY FOR SPRING?

Spring is almost here and the question is; Are you ready?

As an author we should be ready at all times but spring is the time that we should get ourselves in gear for the upcoming 'conference' and 'writing' season.

March and April are typically when you make your definite plans on what conferences, trips or writing events you will attend.

Why you may ask?

Because once you file your taxes you have a little more liquidity to plan such events. In some cases your tax refund may fund your writing endeavors.

In most cases your tax refund will also replenish your stock of books, postcards and marketing swag.

So go online, research some local writing or conferences for writers. Sign up for some that you can afford and then take a look at your marketing handbag. (You do have one don't you?) and see what needs to be thrown out, restocked or refreshed and get to work because it is Spring cleaning time as well. 

So, I'll ask the question again...Are you ready for Spring? and if not; why?

APRIL 15 ...IS IT THAT TIME ALREADY

Well on Wednesday either you are going to be sighing with relief or scrambling to find receipts.

Which one will you be doing as a writer? Did you keep those receipts for all of the events you paid for in the past year? Did you log in mileage and if you paid with a credit card, did you keep those records. Did you purchase a new computer for your writing? What about supplies? What about that website that you paid someone to develop and put together for you?

Yes, all of those things need to be written off. What? You didn't know that? Well you are a small business you know.

Being a writer also means you are a business owner. Yep; you, the writer...reading this...is a business owner. in fact you are a small business owner. 

If you didn't know that; than you didn't do all of your research. So Wednesday is right around the corner and if you didn't keep all of the receipts not to worry, there is always next year.

Here are a few tips to help you along the way.

1. Get a small notebook that you keep in your car. Log in your miles every time you go to an event. From start to finish.

2. Ask for receipts. Especially for gas, food and lodging whenever you go to a book event. 

3. Pay for events with a debit card and print off that receipt to keep for taxes.

4. Create a spreadsheet in Excel for easy tracking

I hope that helps in a small way. So, off I go to get all of my tax information to my tax guy. Hopefully I get a little something back or at the very least; don't owe any taxes. That's always a good day.