Stephanie Hurt – Romance Author

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Taxes & Writing on my!

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…


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Authors don’t forget to claim your royalties…

I know how gratifying it is when you start earning those royalties. You get all excited and look forward to checking your sites daily to see how much you’ve earned. Well their is something else to keep in mind.

As most of you know, I’m also an accountant and in the middle of the start of tax season. I’m reminded how easy it is to forget to claim those royalty payments. You may be groaning and going ‘why did you have to remind me’. Well as your friend I feel it’s my duty to nudge you just a little. It’ll save you lots of penalties and interest later.

But along with this don’t forget the expenses you’ve incurred over the year. They range from advertising, posting fees, software purchased to publish you work, yearly fees for your website, website set up fees, office supplies, and the list goes on. If you purchased a new computer this year to use to write you can claim it up to the percentage you use it for writing. Don’t forget those miles used to go promote your book. 

Hope this helps some. If any of you have a tax question regarding your writing, just let me know. I’d be glad to help.

As always, good writing and May God Bless You…