Video Blog: Can a writer deduct unpaid royalties?
September 6th, 2012 → 4:00 pm @ Carol
A writer asks, “Can I deduct unpiad royalties?” in this video blog from Carol Topp, CPA
I want to go to Montana to write. Is it a tax deduction?
August 27th, 2012 → 3:09 pm @ Carol
My friend Nina, the author of The Respect Dare: 40 Days to Improving Your Relationship with God and Your Husband, asked me this question: If I go to Montana to write for a week, and combine that with a few days of family stuff, can I deduct the trip? Or some of it? [...]
Video Blog: IRS denies business expenses to author
July 10th, 2012 → 6:11 pm @ Carol
I discuss why a wanna-be author was not allowed $19,000 in travel expenses for his (un)published book on world -wide travel.
Are Meals Tax Deductible?
June 11th, 2012 → 8:00 am @ Carol
Earlier this year, an author asked me this question related to tax deductions: I have a question that I’ve never seen answered anywhere. I write usually 6-8 hours a day in a coffee shop. Are my meals there and/or my coffee and tea I drink at all tax deductible? Great question! Meals are deductible while [...]
What can a writer deduct on a tax return?
March 23rd, 2012 → 10:40 am @ Carol
I enjoyed speaking to Quinn Barret of Wise Bear Books in a podcast where we talked about Business Tips and Taxes for Writers. Here’s what we talked about: What can a writers deduct on their taxes? Is Sch C (sole proprietorship) an audit flag to the IRS? Are costs to get my book on [...]
5 Secrets to Short Cut Your Record Keeping for Tax Benefits
March 7th, 2012 → 8:38 am @ Carol
Here’s presentation my publisher and I did for Nate Kievman of Linked Strategies. The webinar starts with Felice Gerwitz of Media Angels explaining Five Secrets Every Author Should Know Before You Write the First Word. My portion on 5 Secrets to Short Cut Your Record Keeping for Tax Benefits starts at about 17:30 if you [...]
Don’t Ignore these Tax Deductions
February 23rd, 2012 → 2:00 pm @ Carol
Other Expenses. Some common business expenses for authors
More Tax Deductions for Writers
February 20th, 2012 → 8:00 am @ Carol
The list of tax deductions for writers continues… Depreciation applies to purchases of computers, furniture or equipment that will last longer than a year. Depreciation is an accounting term meaning that the value of the equipment is deducted on the tax return over several years. A Section 179 expense means that the full cost of [...]
More Tax Mistakes Made by Writers
February 16th, 2012 → 8:00 am @ Carol
More Tax Mistakes Made by Writers