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Anastasia Zoldak

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Financial Opportunities for Writers
by Anastasia Zoldak   
Not "rated" by the Author.
Last edited: Sunday, November 07, 2010
Posted: Sunday, November 07, 2010

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Many writers do not realize that they can save money and make an income by turning their writing hobby into a business.

Writers consider themselves as creative professionals rather than business professionals.  As a result, many writers who are paid for work or in the process of writing a novel overlook possible business tax deductions that they qualify for. Many writers do not realize that they can claim business deductions as long as they have been paid at least once for anything they have written during one fiscal year.  Even writers who write as a hobby can take deductions if they run their hobby as a business. 

According to the U.S. Internal Revenue Service, tax statutes allow a writing business to sustain yearly revenue losses for a period of seven years. 


Read the rest of the article at http://writinghood.com/writing-business/financial-opportunities-for-writers/#ixzz14cCEYEXE

Web Site: Writinghood



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