Helpful Tax Deduction Tips for Writers

Helpful Tax Deduction Tips for WritersHelpful Tax Deduction Tips for WritersWhen April 15 is getting close, and its time to file your taxes as a book author, the more you know about your deductions, the better. Sure, your pens, computer printer ink, and paper are tax-deductible- but there are other tax deductions you may be eligible to take. If youve never before filed taxes as an author but would like to, first determine whether your writing efforts qualify as a geschftsleben, as opposed to a hobby. Of course, general good record-keeping rules of the IRS apply here. Save receipts, note the names of guests at meals or events, and make sure to clearly state the business purpose of the expense, and be sure to double-check assumptions with your paid tax preparer informed. That way, if the IRS audits you, youll have a clear recollection and confirmation of your legitimate business deductions. Deduct Paid Contractors, Freelancer, and Agency Fees Did you pay an editorial freelancer to edit your manuscript? Did you pay a graphic artist to design your book jacket? Photographers, illustrators, copyeditors- the fees paid to book development contractors are tax-deductible, as are the costs of outside services, such as a freelance publicist, a website developer for your author website or a video producer for your online book trailer. Literary agents send authors their royalty checks during the year with the agency percentage fees already deducted off the top of their income, and the year-end a 1099-MISC form an author gets from his or her agency would reflect that. If thats true in your case, of course, you wouldnt claim the agency fees as a deduction, because they already been deducted from your income. Claiming them twice would be double-dipping. If you pay an independent contractor or freelancer more than $600 on your book project, youll need to send both the contractor and the IRS a Form 1099-MISC (assuming you did not withhold any taxes from the contractor or free lancers fees). What Is Meals and Entertainment Expense? Most meal and entertainment expenses that relate to your profession as an author are deducted at 50%, as long as the event has a clear business purpose, you keep records of the discussion, and you keep receipts for anything over $75. That meansif youre paying for lunch with an bewerberinterview subject for your book, or are having lunch with your freelance publicist to discuss book publicity campaign strategy, half of the expense is tax-deductible. However, the IRS allows 100% deductions if you provide meals, entertainment, or recreational facilities to the general public as a means of advertising or promoting goodwill in the community. For example, neither the expense of sponsoring a television or radio show nor the expense of distributing free food and beverages to the general public is subject to the 50% limit.(1) If you rented space and to hold a public book reading party for your new novel, the costs of renting the fac ility and paying the caterer may be deductible at 100%, because the purpose of the event is to advertise and promote your newly-released book. Author Advertising Expenses The Schedule C category Advertising is used broadly to encompass many expense items on your book marketing and publicity plans related to promoting yourself and your writing.Some examples of Advertising items specific to authors are Ads- the design, creation, and placement or media fees of print (newspaper or magazine), TV, or Internet advertising. This includes pay-per-click fees, or paid placement in a catalog related to your book (for example, having your book listed in Ingram or Baker and Taylors book wholesaler catalogs or listing).Branding and logo design- for you as an author to establish a recognizable look to attract readers to your book or series of books.Flyers, brochures, mailers, business cards- for your public appearances, like readings or book signings at a book festival. You can deduct the cost of design, printing, and distribution. Promotional items or giveaways (some examples might be bookmarks, book bags that promote your title or your book jacket design, aufgussgetrnk shirts, pens, pads, etc.)Signage (for example, to announce your book signing) and display costs. This could include banners, posters- even a billboard if you had the budget for itWebsite costs- these include the design and development of your author website, as well as monthly or annual hosting fees.Newsletters- if you pay for a newsletter service like (like Constant Contact or MailChimp) to send out newsletters to your readers, the monthly fees are tax-deductible. If you are a self-published author who paid an all-inclusive fee to publish and promote your book, make sureyou check to see if promotional items are included in your package. Depending on your tax status, you may be able to break out the cost of these advertising fees to include them in your Schedule C deductions. This article is meant to giv e a general insight into tax information that might apply to writers, and to provide readers an entry point so they can research further. While every effort welches made to ensure the information in this article was accurate at the time it was written, the Book Publishing site guide is a writer- not a tax expert. Therefore, anyone filing their taxes should consult a qualified tax preparer or tax expert for updated federal and state income tax and sales tax laws and further specifics on how these rules might apply to an individual tax situation. ?For specific IRS resources regarding the subjects mentioned in this article, refer to IRS Publication 334 (2012), Tax Guide for Small Business. The general information included in this article is not to be used to avoid tax penalties that might be levied by the IRS (see the Treasury Circular 230 regulation for the specific provision).

Tips for Veterans Trying to Crack the Job Market

Tips for Veterans Trying to Crack the Job MarketTips for Veterans Trying to Crack the Job MarketTips for Veterans Trying to Crack the Job MarketToday is Veterans Day, an often overlooked holiday (since it involves no candy or pumpkins no turkey or football games). But its an important holiday, when we stop to remember and honor the men and women who have served in the armed forces, especially the many thousands wounded or killed. If not for their service and sacrifice, wed be living in a very different world.Those who wear the uniform dont necessarily stay in the military forever. Most will eventually transition into the civilian workforce after serving their tours of duty. They may be looking to use newfound skills, or maybe go to college to take advantage of benefits provided them by the federal government under the GI Bill.Not having served in the military, I cant offer firsthand experience about transitioning into the civilian job market. But I can offer some basic advice we can impart to those in uniform who, like any career changers, need to show prospective employers how their past experience can apply to a new position in a different arena.Know how your skills can transfer into the private sector. Do you have successful leadership experience? If so, maybe a management position lies in your future. Figure out the industries and job roles that could accommodate someone with your skill set. Maybe you worked in logistics, engineering, or vehicle maintenancethose are all highly transferable skills.If you need help focusing on a potential job role or industry, try these web sourcesMilitary.comU.S. Department of Labors Veterans Employment and Training Services (VETS)Career One StopJob banks via Career One StopPrepare a resume. Once youve figured out what you want and what industries and companies youre targeting, make sure you prepare a resume thats free of military jargon. If hiring managers cant understand the terminology on your resume, they wont understand how your skills can fit their needs.Search the Web for resources that can help you translate military terms into language civilian employers can understand. Here are two other resourcesMilitaryStarsMilitary.comConsider outside help. If youre having a hard time making the transition or devising a strategy, consider hiring a career coach, preferably one who has expertise in a military-to-civilian transition.Meet others online and in part. Since news of many, if not most, job openings is passed around by word of mouth, it helps to network in person and online. Look up local networking groups and job search clubs, and take advantage of social networking sites such as LinkedIn.If youre a veteranor notwhat advice would you have for those making the transition into the civilian workforce? Add your views below.

10 things you need on your desk for a happier work day

10 things you need on your desk for a happier work day10 things you need on your desk for a happier work dayWhen I sit down at my desk at the beginning of a workday, the state its in usually sets my mood for the day. Like, when you sit down to a pile of paperwork, a dirty coffee mug from the day before, and have to literally push things aside to find the keyboard, its nearly impossible to be in a cheery mood. Even if your desk is organized and clean, if its dull or sparse then there is simply nothingmood-boostingabout it.On the other hand, if your desk is tidy and equipped with all the tools you need for a disaster-proof day, AND it also has some color and life to it, then you are going to feel more cheery and probably be more productive too.Follow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and moreEssentially your desk is a reflection of your work and personality, plus its where all the magic happens, s o it makes sense to utilize the space and bring it to life.For me, a non-negotiableend of workday ritualis to tidy my desk so it looks the same as when I arrived. This brings the workday full circle and gives me a fresh space to start the next day in, which is particularly useful if you have had a crappy day at work since you definitely dont want to carry that stress on into the next day. Taking behauptung 5-minutes to organize myself instead of rushing out the door, has honestly been life-changing, plus my pretty workspace deserves to stay cleanSo once youve got the organization and tidiness side of things down pat, all you need to do is add a few things to bring the space to life which will ensure you have a happier workday.10 things you need on your desk for a more cheerful workday1. Your daily plannerWhere would your life be withoutyour daily planner? Of course, this trustworthy companion is a must-have on your work desk for a stress-free day.But, instead of just using a boring plain planner or even worse, one of your standard company ones provided to you that every other co-worker uses, try investing in one that actually helps lighten your desk.Yourplanner should motivate you, and something mundane just wont do the jobMy recommendationUrban Outfitters Printed Daily Planner Journal2. GreeneryThere is no doubt thatadding a plant to your desk gives it a welcoming feel. But beyond the aesthetics, studies have shown that plants in the office can improve indoor air quality, reduce stress and help increase productivity.In particular,a study from Washington State Universityfound that productivity increased around 12 percent when people worked in a room with plants in comparison to one without.Alive plant is the best vorkaufsrecht(try a small succulent or something that needs minimal work if you are concerned about caring for it) to reap the most benefits, but if thats not possible a synthetic plant or alike can still help bring a welcoming and cheery feel to your desk.My recommendationLVLY Little sucker3. Good quality headphonesTheres a better way to escape the stresses of work than with a pair ofgood quality headphones. Once you put on a comfy pair and start playing the perfectly curated playlist (tryThe Office Stereo playlist on Spotify) to make you feel cheery, or a really motivating podcast (like ourA Day In Progress podcast) to help boost your productivity, your mood will likely skyrocket.Beyond this, good headphones are also really handy to have on your desk for when you need to jump on a phone call or join an online meeting and dont want to waste time messing around with technology.And you can even style your headphones on your desk to make your workspace look both sleek and lively. Investing in a headphone holder (like this one) not only looks great on your desk, but it also helps keep those expensive headphones in perfect conditionMy recommendationBose QuietComfort 35 II Wireless Headphones4. Warm lightingOffice lighting so often f eels clinical, with either an uncomfortable amount or lack of illumination. This not only strains your eyes causing headaches and fatigue but often affects your mood too.While some desks have access to natural light, many dont, meaning the only source of light is the fluorescent office lighting.Adding in a lamp produces instant warmth, particularly if you opt for a full-spectrum bulb that simulates natural light. positiv they can always be turned on and off dependent on whether or not you need it. You could even get one with a wireless charger for your devices, for an added sleek bonus.If you dont have room for a lamp on your desk, try adding a string of fairy lights to make your desk feel more lively.My recommendationPixo Optical LED Table Lamp5. Upgraded office suppliesMost workplaces will provide you with all the stationery you could possibly need, and while this is fantastic, the stationery itself is usually not very exciting. Plus every other co-worker will generally have the e xact same on their desk.Upgrading your office supplies to things more personalized and your style is guaranteed to put you in a cheery mood, even when youre jotting down notes from a boring meeting.And you dont have to upgrade everything. I like to think of what I use the most and then simply find a funky style of those accessories that will motivate me at work. For me, that usually means upgrading my pens and post-it-notes since thats what I use the most throughout the day, but for you, it could be completely different (paper clips, highlighters, and staplers are also common items that people like to upgrade).My recommendationkikki.k Slim Inspiration Ballpoint Pens6. A desktop background that sets the sceneYour desktop background can transport you wherever you like, so utilize this and make it a work of art. In fact, this should probably be the first thing you do to create a more cheerful space on your desk because its so easy and entirely free. Also, you dont need to make any comm itment like when you purchase something, so play around with different backgrounds to see how they affect your mood or just change it up often enough so your space feels fresh.I generally change between a beautiful nature picture (preferably one with lots of greenery or the ocean), and motivational prozentzahls, or when I snap a photo Im really proud of then Ill use that, too. Most of the time whatever is featured will depict nature because being stuck inside at a desk usually leaves me craving nature and sometimes this is all I need to ensure I last the day insideMy recommendationBlack and White Youre Killing It Quote7. A funky mugIf you are anything like me, then a good portion of your work day will be spent sipping coffee or tea while working. Having your own cute mug will cheer you up and make those trips to get your coffee or tea a little brighter.Whether youre a sucker for a nice big quote splashed across your mug, or prefer a beautifully handmade ceramic mug, make sure youre sipping out of something that you love. Plus a funky mug is guaranteed to brighten your desk, and perhaps you even have a cute coaster to accompany it.My recommendationUrban Outfitters Sloth-Shaped Mug8. Photos or motivational quotesThere is nothing like a good motivational quote on your desk that you can simply look to whenever you need some inspiration or an instant mood booster. As aspirational beings, its natural for humans to turn to motivational words, and doing so affects us on a primal level.I like to use a wooden stand or two for quote cards, allowing me to easily change up the cards to keep things fresh or choose a particular quote that resonates with me at that point in life. And with a wooden stand, you dont just have to pop quotes in there, either. Sometimes when I have a cute photo or polaroid that I just love (and want to look at all day) Ill slide that in instead. Looking at photos of great moments especially help cheer you up on those really tough days at work, remi nding you that more of those great moments are yet to come.My recommendationBright Ideas Quote Cards9. A pillow and blanketA pillow on your desk chair not only makes it more comfortable, but it also helps bring a dull office chair to life. A cute pillow and a blanket should be a must at every desk, especially when the office AC is cranked way too high, or when you need to warm up from the chilly winter wind.A blanket scarf is a great option because it works as both a blanket and a stylish scarf, so you still look professional while at your desk when needed.You can either keep these items on your desk chair or as I like to do, just pop them in a small basket under your desk so they can be easily retrieved whenever they are needed.My recommendationUrban Outfitters Pink Corduroy Heart Pillow10. A desk tray or organizerHaving a desk tray or organizer is a fool-proof way to keep all your stationary nice and tidy. A clean space helps focus your mind, and this is the perfect tool to do jus t that.Depending on your style, you could get a funky colorful desk tray or organizer or something a little sleeker. I personally love a really simple (transparent if possible), yet practical organiser, that showcases some beautiful or funky stationery.My recommendationRussell + Hazel Acrylic Block Starter SetThis article first appeared on A Girl in Progress.You might also enjoyNew neuroscience reveals 4 rituals that will make you happyStrangers know your social class in the first seven words you say, study finds10 lessons from Benjamin Franklins daily schedule that will double your productivityThe worst mistakes you can make in an interview, according to 12 CEOs10 habits of mentally strong people