The more you know about your taxes, the better…
Asking for tax advice on a indie book printing forum is like asking whether or not you should run naked through the streets! When April 15 rolls around and it’s time to file your taxes as a book author, the more you know about your deductions, the better. Sure, your pens, computer printer ink and paper are tax deductible — but you might learn something new in the following details and tips about book author tax deductions.
If you’ve never before filed taxes as an “author” but would like to, first read this to see whether your writing efforts actually qualify as a business, /or Tax Deduction Tips for Authors by Valerie Peterson/ or Guest article by written by Dave Symmonds/as opposed to a hobby.
It also depends if you actually sell any books.
You may submit tax forms to reduce the amount of withholding, but in the end, you will be responsible for reporting the income on your annual tax returns.
This article provides additional information as well as all pertinent tax forms: How do I get a W-9 or W8-BEN on file with Lulu?
For more useful tax information for book authors, find out:
Whether your writing is a business or a hobby for tax purposes.
What kinds of tax deductions book authors should take.
And learn more about bookselling in general:
Everybody with or without experience like a self-published author is welcome to share any relative information….