Thursday, October 4, 2007

Financial Planning for Writers?

Recently I had an article published in Desert Saints Magazine on financial planning.

This is a subject that I've spent a lot of time researching since I'm the household budgetee, investor, and planner.

What does this have to do with writing? A lot. Managing your finances and knowing what you can deduct on your taxes can make a big difference in whether or not your writing career is profitable.

On another blog I write for, I outline some of the things writers can tax-deduct. Visit Writing On the Wall blog for more details, but the basic things to keep track of include:

1. Purchase of any books.
2. Mileage in pursuit of writing or promoting.
3. Meals--on a limited basis.
4. Business use of your home.
5. Writing equipment and supplies.

4 comments:

A.Riley said...

Just wanted to comment that my mother in law gave me a book on CD to listen to. I never got around to it, and it got stuck in a box under my bed for awhile.

I was doing some cleaning the other day and got the box out from under my bed to go through. And guess what CD it is? House on the Hill. Guess it's time to listen to that CD soon. :)

Candace Salima (LDS Nora Roberts) said...

These things have saved me at tax time more often than not.

Heather B. Moore said...

A.Riley... you'll love Annette's work. Just so you know, to get the full effect of her stories, you'll need to get her books. Her audio's are abridged, though they're still great.

Ajoy said...

It's awesome to have people like you out there...searching and investigating! It makes life easier for the rest of us. You rock! THANK YOU!