Making Money Mondays and Uncle Sam

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Top Ten Tax Tips

Do all or some, but always number one and number two. And for all you giggling 8 year olds … yes I said number one and  number two.

  1. Save every meal receipt (if it pertains to writing) for every meal at every event, every con, and on the road before and in between and after.
  2. On receipt document date, time, total, and who you were with.  A lot of receipt ink no longer lasts. Faded receipts are useless.
  3. If you count off your clothing as a tax deduction, make sure the clothing is worn only at what counts as work.  Con costumes, con clothing, con shoes, have their own place in the closet. If I use it in everyday life, it doesn’t go in Con clothes and I don’t count it off.
  4. Count gas or mileage. Keep receipts (ditto on ink problems) or good records.
  5. If you know how to make a spread sheet of expenses, do it.
  6. Keep receipts (ditto on ink) from the bars.
  7. Hotel, tips, parking, valet, etc. can go, dated, on receipts or spread sheet.
  8. If you can (and feel that your credit situation should) get a credit card for business. I have a card I use for business and it’s so easy to match receipts up to lines on each bill.
  9. If you go paperless, know that you will have to print records. I do both, just in case.
  10. Keep records of the books you give away. Because you will likely give some away to fans or even to VIPs who might want to make a movie of your book. (Rolls around on the floor laughing hysterically.)  It could happen, right? Right?

And if you didn’t see this? >>>————————————————->>>BOTE-Cover

This! It’s out now.

Faith

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3 comments to Making Money Mondays and Uncle Sam

  • I’ve given books away to famous people several times. Nothing’s come of it yet, but I won’t give up. I know that I sometimes keep books on my TBR shelf for a while before getting to read them, and these are busy people. And who knows what they might do one night when they have time? Even if it’s nothing more than a quick Twitter post saying, “I just read this great book!”, that would be amazing. 🙂

  • Razziecat

    Re: receipts, I believe most of them these days aren’t actually printed with ink, they use a heat-sensitive paper which fades pretty quickly. You might want to make photocopies of said receipts, although it would be a good idea to check with your financial advisor to see if these are acceptable. If not, there may be a way to preserve them until needed for taxes: Maybe keep them between sheets of acid-free paper, or inside of a clear plastic cover.

  • sagablessed

    I was going too say use your phone to take a pic of each receipt and store them in a special file. Print them out when you get home and staple together.
    Sounds like a pain but works.