Taxes for Authors & Writers | 10 Tips to Make You Rich!

Hey future bestsellers!
Lisa Daily here. Holy deductions! It's that time of year again. In today's video I'm talking US taxes for authors (not to mention taxes for writers, authortubers, and indie authors!) and my very favorite tax tips for authors, book marketing deductions, plus some home office deductions for authors and other entrepreneurial types.😀

I'm a total weirdo, so I actually love this stuff. 😂

I'll be covering:
💰some deductible book marketing expenses for authors
💰tax deductions for indie authors and writers
💰book marketing tax deductions
💰travel deductions for authors
💰some tax deductions for book publishers
💰a variety of business expenses for authors,
💰taxes for authortubers
💰tax deductions for authors,
💰new tax credits for authors
💰Turbo Tax for writers and authors
💰Filing taxes as a writer (It's all about the Schedule C, baby!)

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RESOURCES:
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TURBO TAX:
I use Turbo Tax, and I have for approximately one million years because a) it's really easy, b) it already knows how big my office is, what kind of car I drive, and a bunch of other stuff so I don't have to enter the same details year after year, and c)I already know where everything is.
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GET THE RIGHT VERSION OF TURBOTAX HOME & BUSINESS 2020 HERE: https://amzn.to/2PFlTrT
This is the same one I use.
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Here's the version of H&R Block's similar software, you would likely need the "Small Business Owners" version, which also has the Schedule C : https://amzn.to/2PyCXjd
I've only used Turbotax so I'm not familiar with using this program -- also, there does not seem to be a Mac version, but I may be missing it.

EXPENSIFY
Get the greatest FREE app for business owners ever -- find it in the app store (to log your receipts from your phone), and online, www.expensify.com

GET FREE TAX HELP HERE:
Turbotax (free advice until 3/27)
Volunteer Income Tax Assistance program
Tax Counseling for the Elderly program
IRS Taxpayer Assistance Centers
Taxpayer Advocate Service
AARP Foundation Tax-Aide program
MilTax program.
Your local library
Community center
Low Income Taxpayer Clinic

THE ARTICLE ON SICK DAYS FOR FREELANCERS I MENTIONED:
https://www.businessinsider.com/coron...

HOW TO GET YOUR TAX ID:
Get your EIN (Employer Identification Number) for free and directly from the IRS in about 2 minutes right here:
https://www.irs.gov/businesses/small-...
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JOIN THE FUTURE BESTSELLER FAM, SUBSCRIBE!
About me: I’m Lisa Daily, internationally bestselling, traditionally-published (Penguin, Random House, St. Martin’s) author of 9 novels and non-fiction books. I'm here on YouTube to help you write your best book and get it published. Sound good? Then hit the subscribe button, and let's get started.
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SOME OF MY BOOKS:
💙 SINGLE-MINDED (romantic comedy)
https://amzn.to/2TpQPKE

💙 FIFTEEN MINUTES OF SHAME ( romantic comedy)
https://amzn.to/2TrAlS5
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Like this video? Have a writing or publishing question? Please feel free to drop me a line in the comments below and I’ll do my best to answer in a future video -- I’ll be posting new writing advice videos on Mondays & Wednesdays.

Thanks, and happy writing,
xxLisa

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DISCLAIMER:
As you know, I'm an author, not an accountant. The information contained in this video is not tax or legal advice and is not a substitute for such advice. State and federal laws change frequently, and the information in this video may not reflect your own state’s laws or the most recent changes to the law. For current tax or legal advice, please consult with a tax professional.

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