Friday, April 15, 2011
Friday Five: Five Business Expenses Authors Can Write Off Their Taxes
Lucky for me, the IRS has extended the deadline this year so I have until Monday to finish my taxes. (And yeah, I'll probably e-file around 10 pm Sunday night.) So it's not too late to consider taking advantage of what Uncle Sam allows you to consider a legitimate business expense. Did you include all of these in your return?
1. Dues: RWA dues, local chapter dues, Author's Guild dues
2. Books. Yes. Books!!! And not just research books, but books you buy in your genre to check out the market.
3. Ink, paper, and other office supplies.
4. Promo items: Bookmarks, business cards, postcards with your cover, brochures, etc.
5. Conference fees and related hotel and travel expenses.
Hope these help. If not this year, file them away for next year.
Don't forget to check out the other Friday Five Participants. Links are in my sidebar.