Writer’s Tax Deductions

There are many tax deductions currently available to independent contractors. Make sure you’re not missing out on any of these as a self-publishing author. __________



When you work for yourself, you are often considered an independent contractor. This means that you are responsible for managing your own tax payouts and keeping track of your own expenditures and revenue. When tax time rolls around, besides just knowing what you made and what you spent in general, take a closer look at your finances and try to find possible tax write-offs, credits, and cuts for you / your business. Here are some basic categories with examples to get you started.

Equipment and Supplies

Equipment Warranties and Insurance
Printers
Ink
Computers

Laptops, desktops, tablets, etc.

Smartphones
Notebooks
Pens
Pencils
Styluses
Reading Lamps
Book Lights
Books

To read to create content for a website, observe the craft to inform your own, or even non-fiction that helped you find writing gigs, tighten up your marketing, or learn how to promote your book more effectively.

Binders
Binder Clips
Paper
Paper Clips
Staplers
Staples
Tape Dispensers
Tape
Tables
Chairs
Desks
Cameras

For taking photos to go inside your book, creating covers for a book, for PR and marketing purposes while you’re at an event, etc.

Bookshelves
Dry Erase Boards

For organizing your plot, describing your characters, outlining your story, planning publishing, or keeping meeting dates.

Dry Erase Markers, Erasers, and Cleaning Sprays
Stamps

Postage stamps for mailing out orders, along with logo or name stamps for the company.

Envelopes
Postal Scale

 

Overhead

If you have a home office or just a small space that you rent, you may be able to get deductions for some of the following expenses.

Rent
Renter’s Insurance
Gas
Water
Electricity
Extermination Services
Signage
Furniture
Magazines

For a waiting area or for your professional development (or both).

Landline Telephone
Internet Services

 

Travel

Cars
Car Registration and Taxes
Bikes
Car Insurance
Gas
Car Maintenance and Repairs
Car Washing
Car Tires
Airplane Tickets
Hotels
Meals on the Road
Rental Car Expenses
Public Transportation Fares

Taxi, Uber, Bus, Subway, Streetcar, etc.

 

Services

Equipment or Office Repair
Marketing
Advertising
Training / Education
Cover Production
Illustration
Ghostwriting
Copy Editing
Promotional
Bookkeeping
Legal

 

Any categories or items you think are missing? Leave a comment!