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  • Will You Add? - Seven Things A Self Employed Writer Should Know About Taxes

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    it is impossible to reconstruct what has happened without a systematic written record. The checkbook is the easiest method to use for a single person business. Accountants call it the poor man's boo
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    Reporting your income for tax purposes is a required activity in this world. It can't be avoided, but it can be made a lot easier. There are some simple things you can do, that will make the end of the year burden a lot lighter, it will also give you more time for writing and make you financially more successful.

    The first item on your agenda should be to keep good records. The simplest record keeping method for a self-employed writer is to use a checking account. Keep the checkbook, up-to-date and balanced. Deposit all your income to the checking account and pay all your business expenses from the checkbook. You will not remember that cash expense later if you don’t write it down. Cash receipts get lost or mislaid, income is forgotten or overlooked, and by the end of the year it is impossible to reconstruct what has happened without a systematic written record. The checkbook is the easiest method to use for a single person business. Accountants call it the poor man's book

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    the year burden a lot lighter, it will also give you more time for writing and make you financially more successful.

    The first item on your agenda should be to keep good records. The simplest record keeping method for a self-employed writer is to use a checking account. Keep the checkbook, up-to-date and balanced. Deposit all your income to the checking account and pay all your business expenses from the checkbook. You will not remember that cash expense later if you don’t write it down. Cash receipts get lost or mislaid, income is forgotten or overlooked, and by the end of the year it is impossible to reconstruct what has happened without a systematic written record. The checkbook is the easiest method to use for a single person business. Accountants call it the poor man's boo

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    ecord keeping method for a self-employed writer is to use a checking account. Keep the checkbook, up-to-date and balanced. Deposit all your income to the checking account and pay all your business expenses from the checkbook. You will not remember that cash expense later if you don’t write it down. Cash receipts get lost or mislaid, income is forgotten or overlooked, and by the end of the year it is impossible to reconstruct what has happened without a systematic written record. The checkbook is the easiest method to use for a single person business. Accountants call it the poor man's boo
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    xpenses from the checkbook. You will not remember that cash expense later if you don’t write it down. Cash receipts get lost or mislaid, income is forgotten or overlooked, and by the end of the year it is impossible to reconstruct what has happened without a systematic written record. The checkbook is the easiest method to use for a single person business. Accountants call it the poor man's boo
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    it is impossible to reconstruct what has happened without a systematic written record. The checkbook is the easiest method to use for a single person business. Accountants call it the poor man's bookkeeping system, not very high tech, but it works.

    Mileage is another huge problem area for the self-employed. Currently there are two acceptable methods allowed in calculating mileage expense: the actual expense method and the standard deduction method. The actual expense method requires adding up all gas, oil changes, car washes, repairs, tires and other vehicle expenses and doing a depreciation calculation to compute the total cost of running a vehicle. Then you must multiply by the percentage of actual use as a business vehicle. For this you need to know actual business miles driven as well as the total mileage put on the vehicle for the year. If you use more than one vehicle you need to do a separate calculation for each vehicle.

    The other approved method is a standar

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