In 2011, I had a mystery release in hardcover and large print, and I re-released a backlist romance. Those efforts came with expenses: chapbooks, postcards, envelopes, stamps, mailing labels, large envelopes for ARCs and giveaways, plush St. Bernard puppies to launch the mystery, an ISBN bundle from Bowker, and a new book cover - plus author copies to sell at local festivals. I tried a Facebook ad this year for the indie pubbed book. Ca-ching!
Then I looked at conferences. I hit three in 2011: Malice Domestic, Killer Nashville, and Writer's Police Academy. We drove to all of those places, so we kept track of all the mileage. Other receipts I have from the trip include lodging, food, and research books. And yes, all books I buy at conferences and in my genres are research material. Hang onto those receipts, friends! Also for the conference circuit this year, I sprang for imprinted pens. Hopefully those didn't get tossed with all the hundreds of conference bookmarks.
2011 was the year of public speaking for me. I spoke to 2 chapters of Florida Writers Association, one romance chapter in St. Augustine, one beginning writers conference in Jacksonville, a couple times at my home chapter in Jacksonville, and at an event in the Outer Banks, N.C. For some of these I had lodging costs and for all, mileage to write down. Some of these events paid honoraiums, so the record of the payment is a tax document.
I rented a booth at several festivals this year for the purpose of selling my books. Those booth fees, plus the hardware apron I bought to be my money holder, are business expenses.
Then there were professional memberships. I'm in RWA, MWA, SINC, Florida Writers, and McIntosh Art Association. All those dues are tax deductible for writers. Plus reference and research materials - like my RT magazine subscription. Definitely biz related.
I transitioned from a desktop to a laptop in 2011. The new computer, software, and virus protection - all business expenses. I also had a bill come in from my webhost - my multi-year package of hosting was up for renewal - business expense. Also, website updates, which I pay for, these count as business expenses. Toner for the printer and paper for the printer - bought several of each in 2011 - added to the tally.
I also had a few unique office expenses. After I knocked a full glass of iced tea all over my sticky note pile of different passwords, I realized I needed a better system. I bought an old fashioned Rolodex, and I've been quite pleased with it. File folders, binder clips, and even batteries for your computer mouse - business expenses.
If you pay someone to do your taxes, it's a business expense. Don't forget to count that on your own taxes.
On the income side, total up your advances, royalties, speaker fees, honariums, festival proceeds. If you edit for money or write short stories for magazines - all biz income.
I decided to branch out this year and create postcards of my home town. That printing cost is a business expense. Income generated from them must also be tallied.
If I've left something out, please chime in with a comment. Let's all make sure we don't forget a category of expenses.
Maggie Toussaint
Death, Island Style, March 2012 - the artsy lady is accused of killing the dead guy in the surf
Murder in the Buff, March 2012 - murder blooms in the naturalists' garden