Tax season is fast approaching. I hope you’ve been saving your receipts and keeping detailed records because I have a list of tax deductions for writers.
NOTE: These are for the US. Check with your country and a tax pro to see if you can use these as well.
- Self-publishing costs
- Postage to mail out queries, manuscripts, SWAG, etc.
- SWAG (any promo items)
- Business cards and postcards
- Ads (Any advertisements you pay for in print and online.)
- Cover artist expenses
- Branding and logo design costs
- Subscriptions to writing magazines
- URL registration and web hosting
- Newsletter hosting fees
- Conference fees
- Class and workshop fees
- Expenses for events. (Book signings and book launches.)
- Travel expenses (If you have to travel for research or to attend conferences or do a tour.)
- Business lunches (When you’re interviewing someone or with a client.)
- Research expenses (If you hire a researcher.)
- Editing expenses (If you hire an editor.)
- Publicist/press release group expenses
- Legal expenses (If you hire an attorney to look over contracts.)
- Tax preparation expenses
- Health insurance (Self-employed writers can deduct “100% of their health insurance premiums.”)
- Office Supplies (paper, pens, even office furniture)
- Phone, fax, and email expenses
- Home office space (within requirements)
*For more info on how to use home office space as a deduction (especially if it’s in your bedroom), read this article by Writer’s Digest.
NOTE x2: You may not qualify for all of these deductions. If you’re not sure about one, consult a professional.
SHARE: Tax deductions for writers you know about and I’ll add them.