Kindle book: Does an author need to set up a business?
December 21st, 2012 → 12:46 pm @ Carol
By default, you are in business as soon as you receive payment for your services or sell something (like a book).
Expiring tax provisions 2012 (in plain English)
November 16th, 2012 → 6:08 pm @ Carol
Fast on the heels of the election has been news about the “fiscal cliff” and several tax breaks that are set to expire at the end of 2012 if Congress does not act. Here are a few things that may affect you: Payroll tax reduction. The Social Security (FICA) payroll tax reduction we had for [...]
Mixing vacation and business travel
November 8th, 2012 → 6:06 pm @ Carol
An author who is planning a trip to England asks what he can deduct as business expenses.
Video Blog: Vacation and business trip
October 23rd, 2012 → 6:05 pm @ Carol
An author who is planning a trip to England asks what he can deduct as business expenses.
Are unpaid royalties a tax deduction?
October 16th, 2012 → 3:33 pm @ Carol
Can an author write off the amount of royalty that the she did not receive?
Traveling out of town? Take the higher meal deduction!
October 11th, 2012 → 5:23 pm @ Carol
Self employed people can take a per diem expense for meals and incidentals when they travel out of town requiring an overnight stay.
Video Blog: Book purchases as a tax deduction
October 4th, 2012 → 6:04 pm @ Carol
Carol Topp, CPA explains what an author can deduct on their taxes when they purchase their own books to resell.
Using crowd funding to raise money for your book
September 27th, 2012 → 6:09 pm @ Carol
How does the IRS see income from crowd funding sources like Kickstarter?
Business Tip #13 for Writers: Sales Tax Exemptions
September 24th, 2012 → 8:00 am @ Assistant
Our last tip dealt with sales tax, and and how good record keeping is essential to determine what tax you will owe on your sales. But there can be exemptions to sales tax. This is important for you, authors, as vendors to know! This short excerpt from my book, Business Tips and Taxes for Writers, outlines [...]
Business Tip #12 for Writers: Sales Tax
September 17th, 2012 → 8:00 am @ Assistant
You’re selling your book, and that’s great. I hope you can’t keep your inventory stocked! When making those sales, it is easy to overlook a crucial piece: sales tax. Why is this necessary? Here’s a few tips on how to keep sales tax records from my book, Business Tips and Taxes for Writers: “My recommendation is [...]