April 26th, 2013 → 7:58 pm @ Carol
Carol Topp, CPA will discuss the business side of writing and publishing with Judith Briles
March 28th, 2013 → 8:09 am @ Carol
Understand that hobby income is fully taxable and rarely are the expenses deductible. It is usually advantageous to consider your writing as business, not a hobby.
March 18th, 2013 → 8:53 am @ Carol
If you show losses as a writer for 3 years in a row will the IRS classify you as a hobby writer?
January 21st, 2013 → 8:37 am @ Carol
Any income you make from writing, freelancing, your blog, etc is taxable income, even if it’s just a hobby.
January 30th, 2012 → 8:19 am @ Carol
Nailing Down Your Professional Status By Gary A. Hensley In the old television show Sanford and Son, Fred Sanford asks a man, “Who says you’re an attorney?” “I do,” the man says. Fred says, “Who says you’re not?” The man mumbles, “The State of California.” You don’t want to be on the wrong end of [...]
January 12th, 2012 → 8:04 am @ Carol
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, [...]
December 26th, 2011 → 2:00 pm @ Carol
How can I show that I’m not a hobby writer? I intend to make a profit; it just hasn’t happened yet. Keep a log of your work and your submissions to magazines, agents, publishers, etc. A submission log can be very helpful to show you are actively attempting to make a profit at this. Look [...]
December 19th, 2011 → 2:00 pm @ Carol
Is all hobby income taxable? Yes; anything you make from writing, your blog, etc is taxable income, even if it’s just a hobby. Come back next week for as another hobby writing question is answered! Or subscribe to my RSS feed or newsletter on the home page to get these blog posts sent to [...]