January begins a new fiscal year. It’s also the best time to organize your tax information for last year. Whether your book has been out for more than a year, or you’re more than a year out before you finish writing your book, this is the best time of year to gather the information together for tax purposes. On the income side, identify the sources… [Read More]
ONE Record your mileage of your vehicle on December 31, 2016. If you’ve been keeping a log of your mileage for business trips this year, you will need to know the actual odometer reading for your tax calculations. You’ll need to document your mileage on business separate from the vehicle’s mileage used for personal purposes. TWO Prepare a list of business expenses related to your… [Read More]
Sharon Yntema, bookkeeper and author, shared her good experience with a small publisher in a recent blog and here she shares her story and good advice for the business of being an author. In 1981, I received my first author royalty check. Up until that point, my tax returns had been totally straightforward: one W2 was all I had to deal with, and so I… [Read More]
