3 Receipts You Should Give To Your Accountant But May Forget As A Writer
You have established yourself as a writer, and you may have even published a few books. Without a doubt, there were probably some expenses involved along the way, and some of these expenses can be deducted from your tax bill at the end of the year. Take a look at some of the receipts you should be giving your accounting service when they work on your taxes if you earn an income as a writer.
Receipts for Subscription Services
If you subscribed to a service that specifically benefits you as a writer or helps you to do something for your business as a writer, these subscriptions may be tax-deductible. A few examples of the types of subscriptions that you should save receipts for include the following:
- subscriptions to magazines on writing, publishing, and marketing as a writer
- subscriptions to monthly newsletters that give you insider publishing tips
- subscriptions to editing, publishing, or printing services
In general terms, if a subscription service can be related to what you do for a living, it can probably be deducted as a business expense. So make sure you give these receipts to your accountant.
Receipts for Fuel for Research Travel
Maybe you took a drive a few states over to the Grand Canyon to gain some perspective on what it is really like to be there so you could include it in your book. Or perhaps you drove to an author conference over the summer to gain some insight into new marketing venues that are helping writers succeed in their niches. In any case, if you made a trip specifically to better your writing career, the trip could potentially be used for a tax deduction because it specifically benefited your source of income as a writer. That deduction will include the fuel you put in your gas tank to get where you needed to be.
Receipts for Bookmarks and Advertising Materials
Those snazzy bookmarks you ordered to send out with your new self-published book, those business cards you bought to make your career as an author look more legit, and even those little flyers you bought to promote your new book are examples of advertising materials you can deduct as an expense. These are business-related expenses that you would not have if you did not write for a living, so make sure you collect any receipts you have for advertising materials and hand them over to the accounting service.