Lessen The Burden Of Uncle Sam's Demands With These Often Overlooked Expenses For Writers

When you imagined you wanted to be a writer, what is it that you had in mind? If you are like a lot of professional writers, you will say you envisioned sitting in your well-put-together office space, sipping coffee, and tapping out masterpieces on your computer. If there is one thing you did not anticipate along with your prose-creating profession, it was Uncle Sam constantly looming over your shoulder. The fact is, as a writer, you are a sole-proprietor business entity. Therefore, if you make much money at all with your "business," your self-employment taxes can be a huge burden on your finances every year. 

Thankfully, because you are technically operating a business, you can deduct most of your expenses when you do have to file taxes. While you probably know this already, it is almost a sure-fire bet that you are missing some often overlooked expenses you have as a writer. These tax preparation hints can help.

Digital Subscriptions - That digital magazine you pay for that offers you a list of publishers on a monthly basis, the subscription you pay for to host your writer website, the subscription that grant you access to an online platform to meet new clients–all of these are example of expenses that could be tax deductible. If the digital subscription you pay for is beneficial to you and how your business functions, it is absolutely logical to deduct this cost from your taxes. 

Meals During Travel - You may think that the food you have to eat when you travel for your job are just something you would have to pay for whether you were at home or away. However, any time you travel for a writing project, hang onto those receipts when you pay for your meal. Because you are away from home specifically to do something for your employment, the IRS will actually allow you to count what you pay for meals as an expense. 

Educational Classes or Courses - Even as a professional writer already, you will come across all kinds of classes and courses that can help you further advance your career or expand your knowledge base. For example, what you pay for a course on wild edibles may seem like an odd tax deduction as a writer, but if you have a survivalist blog, then this kind of class would only help you be a better writer. Therefore, many types of courses and classes can be deducted on your taxes.