Blogging, Writing, and Publishing

Writing off expenses is incredibly helpful way to decrease your tax burden. However, it's not a license to defraud the government. As a rule of thumb, you should claim all of your income and pay what you owe on taxes. The challenge of collecting and reporting taxes is difficult at first, but it is part of doing business, and is a must for maintaining that business. Fail to do so could result in fines or worse. Doing the right thing will help you better sleep at night, and increase your business savvy. Author situations differ. Some authors make a lot of money and writing is their only source of income. Some have full time jobs and writing provides some of the household income. Either way, the income made from writing must be claimed during tax time. The only difference is if you have a side from writing, your employer is withholding taxes. In your writing business, you should be paying estimated quarterly taxes based on your total income (just writing or income from writing ...