Good morning, it’s already the 6th day of the year, wow times flying. If you’re an author then you’ll want to read this post, and even if you’re not and you file taxes, take a few minutes to check this out.
Here’s a list of expenses that you can claim as a published author if you have royalties to claim as income.
Expenses:
Writing program expenses (Ex. Word, Powerpoint, Scrivener, etc.)
Subscription Fees (Ex. Writing Magazines, Writing Site fees, etc.)
Dues (Ex. Romance Writers Associations, Writing Associations, etc.)
Computers/Laptops/Printers
Pens/Pencils/Paper/Journals/Notebooks
Postage (Used to mail books, letters to editors, etc.)
Advertising
Swag expenses
Book Signing expenses
Labor paid to a writing assistant
Editing fees/Cover Design Fees
Website design fees/Domain fees
These are just some of the expenses that some authors forget when they sit down to do their taxes.
Now remember to make sure you get all of the 1099 forms from all the places where you sold books this year. I always print a summary of sales report on all of the sites my books are on, that way I don’t leave out anything.
If you have any questions as you prepare to do your return, email me and I’ll help. Check out my accounting website for more information at http://hurtsbusiness.wix.com/hurtsbusiness
As always, good writing and May God Bless You…
Stephanie Hurt - Romance Author 