Are unpaid royalties a tax deduction?

October 16th, 2012 → 3:33 pm @

Can an author write off the amount of royalty that the she did not receive?

Blog &Tax Tips for Writers

Video Blog: IRS denies business expenses to author

July 10th, 2012 → 6:11 pm @

I discuss why a wanna-be author was not allowed $19,000 in travel expenses for his (un)published book on world -wide travel.

Blog &Tax Tips for Writers

Tax Deductions for Writers

February 13th, 2012 → 8:20 am @

Here are some common tax deductions for writers. Are you taking them on your tax return?

Blog &Tax Tips for Writers

Common Tax Mistakes Made by Writers

February 9th, 2012 → 2:00 pm @

Common Tax Mistakes Made by Writers

Blog &Tax Tips for Writers

How picky is the home office deduction?

January 23rd, 2012 → 8:40 am @

This may seem like a really stupid question, but the exclusive use of space for a home office deduction, does that mean that the business owner can’t do any personal business in that space, like make personal phone calls, do personal things on the computer/internet, have personal files in the area, pay personal bills, etc? […]

Blog &Q&A &Tax Tips for Writers

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, […]

Blog &Business Tips for Writers &Q&A

Forgot to Record my Odometer!

January 2nd, 2012 → 2:00 pm @

I forgot to record my odometer reading in my mileage log. What should I do? Use Goggle maps to calculate the mileage. In an audit, the IRS may ask for third party verification of mileage (such as oil change mileage readings), so an odometer reading is still the best record of mileage. Carol Topp, CPA

Blog &Q&A

What CAN you write off on your taxes…and HOW?

December 15th, 2011 → 7:34 am @

(from LinkedIn Book Writing, Self Publishing, and Marketing for Business People ) Hello! I’m curious as to what’s the process for writing off materials that you’ve purchased specifically for writing your book. Are there categories that apply (computers, software) and some that don’t (research?)? What’s the step to identify those on taxes and do I […]

Blog &Q&A &Tax Tips for Writers

IRS announces new mileage rates for 2012

December 12th, 2011 → 5:44 pm @

From the IRS http://www.irs.gov/newsroom/article/0,,id=250882,00.html Beginning on Jan. 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 55.5 cents per mile for business miles driven 23 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable organizations […]

Blog &Tax Tips for Writers