tag:blogger.com,1999:blog-7392393277880937685.post3474334679376586804..comments2023-10-23T12:40:22.672-07:00Comments on The Writers Alley: Money & Writing III: The big tax debate - WHATSherrinda Ketchersidhttp://www.blogger.com/profile/07581676437345249386noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-7392393277880937685.post-12069932045799984302011-07-04T15:26:58.825-07:002011-07-04T15:26:58.825-07:00Unfortunately, car mileage and home office expense...Unfortunately, car mileage and home office expenses are the two most likely things that will get you audited so unless you can really prove that the home office is only used as a home office don't list it. The same with mileage.<br /><br />Conventions, workshops, etc., can be a business expense, even if you aren't published, if you can prove that you are working toward publication by having a few rejection letters, etc. <br /><br />Remember also that you can take health insurance off as a business expense, as well.<br /><br />I always recommend these articles to writers:<br /><br />"Authors and the Internal Revenue Code" (written by author Linda Lewis who is also a tax attorney) <br /><br />http://www.eclectics.com/articles/taxes.html<br /><br />Article on self-employed writers, recently updated<br /><br />http://www.tarakharper.com/k_tax.htm<br /><br />"Taxes for writers" by Cyn Mason (copyrighted 1996 so may be out of date)<br /><br />http://www.forwriters.com/taxes.htmlMarilynn Byerlyhttps://www.blogger.com/profile/16720129999636676998noreply@blogger.comtag:blogger.com,1999:blog-7392393277880937685.post-48484738360981231602011-06-24T18:02:44.103-07:002011-06-24T18:02:44.103-07:00Nicole... GREAT addition!!! YES, research trips ar...Nicole... GREAT addition!!! YES, research trips are totally tax deductable!!! I see a book set in Hawaii sometime soon... HA!<br /><br />Same rules on personal vs business applies though:-) <br /><br />Sarah! International TAxes!!! I totally could have used you in my former job!!! Although I dealt more with oversees payroll taxes YUCK YUCK YUCK! One part I do NOT NOT NOT miss!Krista Phillipshttps://www.blogger.com/profile/10772828583379163612noreply@blogger.comtag:blogger.com,1999:blog-7392393277880937685.post-53469855690598949012011-06-24T12:46:53.775-07:002011-06-24T12:46:53.775-07:00Ah Krista, I knew you and I were kindred spirits
...Ah Krista, I knew you and I were kindred spirits<br /><br />I'm sorta embarrassed to admit I'm the CPA of the group because I don't do anything with individual taxes. When I was in the workforce, my specialty was international taxes for global corporations. Yikes...Not very practical for day-to-day, huh? :)<br /><br />I do keep track of all my expenses though...in an Excel spreadsheet, of course. And I save screenshots of my bank/credit card statements that show my expenses (as my "receipts").<br /><br />The one thing I've never thought of tracking is mileage to the post office, etc., when I send out submissions. I've done that a few times and never thought about including it! See, I learned something new today. :)Sarah Forgravehttps://www.blogger.com/profile/09101753891967001104noreply@blogger.comtag:blogger.com,1999:blog-7392393277880937685.post-83641549237642535292011-06-24T10:57:56.570-07:002011-06-24T10:57:56.570-07:00Thank you for sharing, Krista! Great advice.
I t...Thank you for sharing, Krista! Great advice. <br /><br />I typically do my own taxes online. If I ever start itemizing, I'm sure I'll hire an accountant of some sort. That's just too much work! Although, I could take a class/read some books on doing it myself--then I could use the research for a character. Hmmm... would that make it all tax deductible? lol...Ralenehttps://www.blogger.com/profile/07890775905785233298noreply@blogger.comtag:blogger.com,1999:blog-7392393277880937685.post-80214933478703662122011-06-24T08:05:35.222-07:002011-06-24T08:05:35.222-07:00Great tips, Krista, I appreciate the update on mil...Great tips, Krista, I appreciate the update on mileage. I'm gonna have to start tracking that. So, if I'm reading blogs to learn about writing, does that count toward computer use time and deductions? :) <br /><br />Thanks for sharing tips. Anything that's useful is not "geek-y" in my book. :)Jeanne Takenakahttps://www.blogger.com/profile/17259877343251555463noreply@blogger.comtag:blogger.com,1999:blog-7392393277880937685.post-21756972767920580912011-06-24T07:25:19.926-07:002011-06-24T07:25:19.926-07:00Good tip on the mileage change -- thanks.
I hire...Good tip on the mileage change -- thanks. <br /><br />I hired an accountant last year when I became a full-time freelance writer. She's worth her weight in gold. I take every deduction imaginable: home office, utlities, mileage, meals, etc.<br /><br />One thing you didn't mention is research. My accountant allows me to deduct mileage and meals when I go to Starbucks and eavesdrop as long as I can document where in a short story or novel I've used overheard dialogue. I'm also partially deducting a trip to California because it was business related (part research and part of it was spent working on my novel).Nicolehttp://www.nicolewolverton.comnoreply@blogger.comtag:blogger.com,1999:blog-7392393277880937685.post-55965748694589316832011-06-24T06:08:01.794-07:002011-06-24T06:08:01.794-07:00Pepper... I'd recommend using a nice guestimat...Pepper... I'd recommend using a nice guestimatable percentage:-) Me? Considering writing blogs and most of my e-mails are writing related, I'd say 80/20 ish. But I'm also doing consulting work on it as well... otherwise I'd say more 70/30.Krista Phillipshttps://www.blogger.com/profile/10772828583379163612noreply@blogger.comtag:blogger.com,1999:blog-7392393277880937685.post-85161074572468544072011-06-24T05:51:51.463-07:002011-06-24T05:51:51.463-07:00Geekdom is a great place to be. I 'get' it...Geekdom is a great place to be. I 'get' it. Not IRS geekdom, but cool info about Autism and Traumatic Brain INjury - oh yeah. I do a little jig every time I get a package at the university about a new book related to my field. Ooo, what fun!!!<br /><br />I REALLY want a shirt that reads: Geeks are the new cool<br />:-)<br />Great post, Krista. Now to figure out how much I use my laptop for writing purposes...hmmm....Pepperhttps://www.blogger.com/profile/02771295798003844102noreply@blogger.comtag:blogger.com,1999:blog-7392393277880937685.post-65895091320716086442011-06-24T05:47:38.563-07:002011-06-24T05:47:38.563-07:00For fun... just got an e-mail yesterday (yes, i...For fun... just got an e-mail yesterday (yes, i'm a geek and get those kind of e-mails...) that the IRS has changed the mileage rate effective 7/1/11. See? Good thing I didn't quote it!<br /><br />Just for your info, the rate 1/1 - 6/30 was .51 cents per mile... 7/30 - ?? will be .555 cents per mile.<br /><br />I will now retreat back go geekland.Krista Phillipshttps://www.blogger.com/profile/10772828583379163612noreply@blogger.com