Don’t call yourself a hobby writer!

January 12th, 2012 → 8:04 am @

I would like to introduce myself — Tom Hebert. I am a C.P.A. by trade. Writing and publishing for me is a hobby — but a serious one!

I recently self-published the first 30,000 words of my novel (“The Remains of the Corps”) and with the help of a friend converted it to an ebook, and with the help of a low-cost, low-quantity bindery, I printed a paperback for the Kindleless.

Hi Tom! Nice to meet you.

I’m a CPA too.

Not many of us CPAs are writers. We tend to be numbers people.

I recommend you STOP calling yourself a hobby writer. The tax situation for hobby writers is terrible. All hobby income is taxable, but usually the expenses are not deductible. Instead, call your writing what it is: a new business; maybe a tiny, micro business, but it is a business! :)

Read Chapter One: Hobby Writing of my book Business Tips and Taxes for Writers to learn why calling yourself a hobby writer is detrimental to your wallet!
http://taxesforwriters.com/?page_id=322

 

Carol Topp, CPA


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