Video blog: Are gifts a tax deduction?
Here’s a short video clip of me, Carol Topp, CPA, giving a presentation to a writers group. I’m giving them a quiz on taxes for writers. Are gifts a writer gives to an editor, publicist, or other...
View ArticleTax questions with author Sonia Marsh Gutsy Indie Publishers
I had a great interview with Sonia Marsh of the Gutsy Indie Publishers on Facebok. Sonia is an author and had questions on: what tax deductions she could take for travel, and meals using Quicken or...
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Your Guide to Book Publishing podcast: Taxes for Writers
I was honored to be interviewed by Judith Briles’ podcast: Your Guide to Book Publishing Judith’s podcast is EXCELLENT. I always learn a ton from her guests and Judith herself. We talked about :...
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A few mid year tax tips
I was asked to be on the faculty of the Kentucky Christian Writers Conference. We had an open mic night and lots of participants read some of their work, poetry, or even a song. But who wants to hear...
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Years of losses from business can still be deducted
Many authors and other self-employed business owners seem to think that if they suffer years of losses, their business will be classified as a hobby (which is quite punishing from a tax perspective)....
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Free products are taxable income for bloggers
Linda over at MinneMom.com blog wrote what she learned from a seminar conducted by B.J. Weber of Ankeny Tax and Accounting entitled “Understanding the Tax Issues of Blogging.” Read Linda’s entire blog...
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Writers can deduct mileage on their tax return
Business mileage at 56.5 cents a mile (for 2013) is a great tax deduction! In 2014 the business mileage rate decreases to 56 cents per mile. Gone is the half-penny! But.. no one likes recording...
View ArticleWhat can I deduct if I haven’t sold a book yet?
I enjoyed speaking to Quinn Barret of Wise Bear Books in a podcast where we talked about Business Tips and Taxes for Writers. Here’s what we talked about: What can writers deduct on their taxes? Is...
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IRS simplifies home office deduction
Every one in a while the IRS makes like simpler for taxpayers! In 2013 the IRS simplified the Business Use of the Home deduction. Now you can calculate the business use of your home office at $5 per...
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8 tax mistakes writers make
Tax mistakes writers commonly make: 1. Depending on your memory, not written records “Forgetfulness transforms every occurrence into a non-occurrence.” -Plutarch. If you rely on your memory instead...
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What and how do authors write off their expenses?
What’s the process for writing off materials that I’ve purchased for writing your book. Are there categories on the tax return that apply and some that don’t? How do I know which tax deductions apply...
View ArticleVideo blog: Are gifts a tax deduction?
Here’s a short video clip of me, Carol Topp, CPA, giving a presentation to a writers group. I’m giving them a quiz on taxes for writers. Are gifts a writer gives to an editor, publicist, or other...
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Are books donated to a school or library a tax deduction?
Are books donated at a school/library presentations a tax deduction? Annette Donated books can be a tax deduction valued at the cost to print the book (or purchase the book from your publisher), not...
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Is an online publishing course tax deductible?
Can I deduct the cost of online publishing courses I enrolled in 2017? I have not made any money yet and have not published yet. I will have a work out in a few months. I am so glad I found you. A...
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Even more tax deductions for writers and bloggers
photo credit: kenteegardin The list of tax deductions for writers and bloggers grows longer… Taxes and licenses including sales tax paid to your state from book sales and a business or vendor’s...
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Is a business expense also tax deduction for a writer?
I have not been claiming any expenses on my tax return related to my writing. I need a new laptop. Is it a business deduction? The IRS explains what makes a business expense a tax deduction: “To be...
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What can a writer deduct if he hasn’t sold a book yet?
What can I deduct on my taxes if I haven’t sold a book yet? You can deduct any start up expenses which, for a writer, might include: Consultation with an attorney or accountant Research expenses...
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No blogging income yet, should a blogger file a tax return?
If you don’t have any income from your blog yet, should you still file a tax return? Maybe! Or maybe you want to wait. A blogger can file a Schedule C Profit or Loss from Business with their personal...
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Taxes for Writers online class open until April 15 2019
Author and CPA Carol Topp claims she can explain federal income tax, self-employment tax and sales tax in clear English. Let’s hear her try! She will explain tax deductions and record keeping tips to...
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IRS simplifies home office deduction
Every once in a while the IRS makes life simpler for taxpayers! In 2013 the IRS simplified the Business Use of the Home deduction. Now you can calculate the business use of your home office at $5...
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