Tax season is upon us and writers should take advantage of their art. A small writing business is an excellent way to obtain tax deductions. New writers, who take college courses, can also deduct expenses.
If you have not started a writing business, it may be something to consider for 2015. Here are some of my favorite tax deductions that writers can use. Are you writing a script? Then consider reviewing all IRS film and television production costs. If you use a specific place to write then review IRS home business deductions. The first year of your writing business also allows for a number of IRS business start-up deductions.
Writing a blog also opens up a number of deduction opportunities. For example, food blog critics may deduct their meals. There are certain guidelines that you must adhere to in order for your deductions to be considered, but the effort is well worth it when you consider the tax advantages involved.
For more writer tax deductions and tax guideline read IRS 535 tax publication and talk to a tax professional on the best ways to maximize this year’s tax return.
