Aspiring writers...listen up. You can claim your writing expenses on your taxes even if you are NOT published. If you have actively been pursuing a writing career, and can show query letters (via post or email) with the replies you have received, then this is proof that your writing is not a hobby. You can write off all expenses that you have incurred in pursuit of your dream.
A few examples are:
Reference/Writing Books
Postage
Writing Group Fees/Dues
Mileage to and from conferences
Paper/Ink/office supplies
Computer software/hardware
A portion of mortgage/utilities (if you have home office)
Check into it. If you have your taxes done by a service, make sure to bring all of this up. If you do them yourself, you can fill out a Schedule C to send with your 1040 tax form.
In this economy, every little bit helps. I hope this helps you.
This is amazing advice! Thank you so much for the list. And you're right, every little bit helps!
ReplyDeleteThat is helpful! Now I wish I saved all those receipts!!!!
ReplyDeleteYeah, I need those receipts to do that! Don't currently have them...hopefully get them soon.
ReplyDeleteI'm so happy you posted about this! I was wondering this exact thing the other day.
ReplyDeleteSo, a trip to Italy (for novel research purposes, of course) would be okay, right?
*logging on to Travelocity to book the next flight outta here* : )
I'm so glad this has been helpful to all of you!
ReplyDeleteKimberly: Yes, actually you can write off a trip to Italy for research purposes or any other destination for that matter...but you had better be able to prove it! Document everything...not partying at any of the nightclubs but historical sites. Also try to find a writer's seminar or workshop while you are there, that would seal the deal.
As long as you are reasonable (don't buy a plane to research flying) then it should be ok.
You were probably joking but I thought I would expand on that point. If you weren't joking...I am extremely jealous.
Great stuff! Won't help me while I'm Japan, but I'll be sure to chek into for it my island when I go home.
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Linguista, I thought about you when I wrote this! If I had more time I would so look into Barbados tax law.lol
ReplyDeleteGreat tax advice. Thanks so much for sharing it with us.
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