2018 Tax Write Off’s for Writers w Worksheet

A lot of hard work goes into writing a book.  A quick review of your expenses incurred while working on it could save you a bunch on this years tax return.

Which deductions did you remember on your taxes?

The writing business is like any other business, and that means you get the benefit of business-related tax breaks. If you’re a writer and are earning money from your writing (or are at least trying to earn money from it), you can deduct most materials related to your writing venture. This includes pens, paper, printing costs, postage and other writing supplies.

Other deductible expenses that you should keep receipts for include writing-related travel costs, conference admissions, writing group or association fees, and business lunches—such as when you’re interviewing someone over lunch or dining with a potential client. Research materials (all those books, magazines and newspapers) are deductible, too. You may also deduct items such as a new computer or printer, though you may have to amortize the equipment deduction over a couple of years, so it’s best to consult with a professional tax preparer on those types of purchases.  Feel free to download the worksheet I use to track expenses.

Writers Expense Worksheet

Also, it’s important to note that if you claim your writing as a business, the IRS expects you to start making money after a couple of years. So if you’re making minimal money, for tax purposes you may only be able to claim your work as a hobby, which would allow you to deduct expenses only up to the amount of income you’ve made from writing.

The key to tallying tax deductions for writing-related business expenses is to keep receipts and records for everything. That way, if you’re ever audited, you’ll have the documentation to back it up.  And be sure to check out our blog post on home deductions you might have missed here.

When in doubt – consult with a tax professional.  Need a referral?  Call us at 813-350-7800.

We hope this was of help to you!  Feel free to share it with other authors you know.  As you well know, writing the book is only the first step!


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