The Tax Man Cometh

I spent my lovely Easter Sunday doing taxes. Yep, I tend to procrastinate because I usually wind up paying the IRS.

But this was the first year I had to report income from my writing! Not a lot, by no means. Good heavens no! But it’s the first actual income I’ve made from writing and that, despite the headache of having to do Schedule C, was pretty exciting.

I was also able to claim deductions for the expenses I incurred in pursuit of my writing career. It’s quite interesting what you can and can not deduct and I would highly recommend either you do a lot of reading on the topic or get advice from a tax professional.

I have, as a result of my rather exasperating experience this year, set up an Excel spreadsheet to keep track of my writing expenses for 2009. I also keep all my receipts, of course, for anything I’ve spent money on that’s related to my writing, but the spreadsheet will make things a lot easier for me next year.

Anyway, I’m nearly done with my taxes and can move on to other things.

I can’t believe we’re almost half-way through April! I have two short stories that are due at the end of the month that I must get cracking on. I’m nearly done with edits for my novella for Ellora’s Cave and will send that back to my editor today. Revisions on other novellas are proceeding.

Looks like our run of beautiful, sunny weather has been broken today. Appears to be a cloudy, cooler, rainy Monday in store.

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7 Responses to The Tax Man Cometh

  1. Go you! It’s lovely to be done with chores like that.

  2. jennareynolds says:

    Ever so lovely! If I didn’t mess up calculations, I may get a refund from my state taxes which means I can go to Wiscon! 🙂

  3. Heh- there can even be a bright spot regarding having to file taxes. Congrats, Jenna on having to claim income due to writing. 🙂

  4. jennareynolds says:

    Yes, that is a way to look at it, since filing taxes is usually for me like pulling teeth. 🙂

  5. Amy says:

    I know it’s a pain doing taxes. I remember the time I used to have like 2 things. Now I have this spread sheet with expenses and profits and bah.

  6. Patricia says:

    Good luck on the taxes. I did mine a couple of months ago. I’m staying away from the post office tomorrow! LOL. Check out my blog for a link to a You Tube video that proves you should never give up on a dream. It is so good.

  7. jennareynolds says:

    Amy: I definitely set up a spreadsheet for this year. With the hope, I guess, that next year I’ll have even more income to report. 🙂

    Patricia: They’re all done. Just hope I did them right. If you’re talking about the Susan Boyle video I saw it. Very inspiring! 🙂

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