Comments on: Taxes and Writers

By: Friday Features #53 [4/15-4/21/13] - YESENIA VARGAS

Friday Features #53 [4/15-4/21/13] - YESENIA VARGAS — Mon, 29 Apr 2013 18:31:57 +0000

[…] Taxes and Writers – Rachelle Gardner […]

By: jfsmith

jfsmith — Tue, 16 Apr 2013 22:35:00 +0000

Excellent tips! I would also advocate the home office option. Make sure you follow the IRS guidelines – that the space you’ve set up is used ONLY for writing, and that way you’re doubling your return in that you’re investing in an area just for yourself.

By: Peter DeHaan

Peter DeHaan — Tue, 16 Apr 2013 21:33:00 +0000

Another thing (from a non-expert) to keep in mind is being able to prove you are making a
viable effort at writing and selling your work. If you’re audited and you can’t do this, the IRS could declare your writing is a “hobby” and disallow all your deductions.

By: Krista Phillips

Krista Phillips — Tue, 16 Apr 2013 19:01:00 +0000

I actually enjoy the tax process a little bit… super sad, this I know!! Another suggestion for those who writing is a side job and you still have a day job (or have a spouse with a day job)… you can elect to withhold addt’l taxes from your payroll taxes on your W4 instead of estimating taxes. It might take a little more work on the budget end, but for us it works nice because it is seemless every payday and I can just recalculate if we have a bigger payment or a smaller one (hubby and I also do outside non-writer contract work and use the same method) And I don’t have to remember to hold out large chunks out of checks or accidentally forget to make a quarterly payment!

By: Connie Grudzinski

Connie Grudzinski — Tue, 16 Apr 2013 17:52:00 +0000

I not only learn from you, but also from your followers. Thank you for posting this, it’s good advice. I just set up my tax number today and am moving on to the next step. Note: my head is bursting, my anxiety has peaked, I need something stronger than water in my glass. It’s so much easier to just write!

By: P J Casselman

P J Casselman — Tue, 16 Apr 2013 16:30:00 +0000

Find out who does your pastor’s taxes. Minister taxes are complex and those who can handle them well will be capable of understanding a plethora of expense variables. Also, since most pastors are financially poor (I am my own evidence :P), their accountants are not on Park Avenue.

By: J. M. Tompkins

J. M. Tompkins — Tue, 16 Apr 2013 13:17:00 +0000

Thank you Rachelle – I would reinstate getting a professional that understands the deductions. When you work from home, there are many little helpers for tax write-offs. You don’t want to miss out on those!

By: R, Tezak

R, Tezak — Tue, 16 Apr 2013 12:52:00 +0000

Great advice!

By: Dan Erickson

Dan Erickson — Tue, 16 Apr 2013 12:40:00 +0000

Oh the advantage of being a self-published, non-best-selling author. I would dread the taxes, too, but I’ll be ready when they come, in part, thanks to your post. Thanks for sharing.

By: Connie Almony

Connie Almony — Tue, 16 Apr 2013 12:12:00 +0000

Excellent advice. Thanks for this!

By: Gabrielle Meyer

Gabrielle Meyer — Tue, 16 Apr 2013 05:32:00 +0000

Great advice! I pulled all my expenses together and was amazed at how much I had spent on my writing career this past year! I attended a conference, two retreats (hotels, airfare, food, etc.) and bought a LOT of writing books. Wowzer. But it was good to have that figure in mind as I budget for this year. My husband and I both look at the expenses as investment in a business.

By: J Keith

J Keith — Tue, 16 Apr 2013 05:13:00 +0000

Very useful info as I someday want to make a living being a writer

By: Roxannne Sherwood Gray

Roxannne Sherwood Gray — Mon, 15 Apr 2013 18:17:00 +0000

As I transition from writing as a hobby to a career, these tips are so appreciated. Thanks so much!

By: Jessica C

Jessica C — Mon, 15 Apr 2013 17:08:00 +0000

Wow, I knew the taxes would be more detailed, but I thought anyone could do it easily themselves the first time around. I guess it’s better to play it safe and let the pros do it.