Ok, the holidays are over so it’s time to buckle down. As an Accountant it’s time to close out the year on all my clients, do W-2’s and 1099″s. Not to mention the start of Tax Season… But as a writer it’s time to buckle down and get out more manuscripts, clean out my work to be done file (It’s rather large 🙂 ) and get all my writing expenses together.
You may be saying oh nooooo… But if you have a method of doing this it helps. I’m here to help. The first thing you need to do is sit down at your work area and declutter. Clutter clouds the mind, or so they say. Funny thing is I know my clutter well and can tell you where anything and everything is in my clutter.
Ok, once the clutter is somewhat organized make sure all your invoices, papers and such are filed in their correct files. This makes tax time so much easier. What if you didn’t print all your invoices off your email, well now’s time to declutter your email. I always forget to print those pesky things off email, because once they get to the bottom of the list they’re forgotten. So, print all your invoices and remove them from the email. It will make your system run smoother too…
I like to sit down and get all my royalty reports off the many sites I’m on. This takes a moment, but well worth it. You need to know what you can expect in 1099’s. Yes, people, royalties are considered income. I’ve been asked this question multiple times, but writing is a business, so run it as such.
Then sit down and separate all your miscellaneous files such as donations, medical, and office expenses. So many people miss out on tax deductions because they just simply don’t want to take the time to get the paperwork out, but I consider it money in my pocket and who doesn’t like that. Just plan an afternoon in front of the fire sorting paperwork. That’s how I do my own paperwork. I can spread out and have multiple piles.
Don’t forget any equipment you might have purchased during 2013. Did you get a new laptop, printer, keyboard, mouse, well you know where I’m going with that. Also subscriptions, yep that subscription to the writers magazine is deductible to a writer 🙂 Then of course you have royalties paid to photo sites, yep bet you forgot about those didn’t you?
Then you have all those little expenses that we often forget such as postage, advertising, long distance calls to editors, agents or such as that. Don’t forget any programs you bought that help your writing. They can be costly and are deductible.
These are just a couple of things. Once you’ve cleaned out those packed files or drawers, start the new year off right by setting up a filing system and keep it straight. When you pay bills, or order something online, print that invoice right then and file it, deleting the email. This helps next January be a little less stressful.
I do hope everyone had a great 2013 and look forward to a blessed 2014.
As always, great writing and May God Bless You…