Archive for November 2011

09 Nov, 2011 | Posted by: st

Easy Tax Guide
for Writers, Photographers, and Other Freelancers.

by Prof. James Edward Maule

A Tax Book for Writers (and Others)
Prof: James Edward Maule: "Almost five years ago, in A Tax Advice Book for People Who Write and Illustrate Books, I reviewed Julian Block’s “TAX TIPS FOR SMALL BUSINESSES: Savvy Ways for Writers, Photographers, Artists and Other Freelancers to Trim Taxes to the Legal Minimum. He has now released a new edition, with a modified title, “Julian Block’s Easy Tax Guide for Writers, Photographers, and Other Freelancers.” Once again, Julian has given tax practitioners and taxpayers with any sort of connection to the literary or artistic world a handy and helpful explanation of tax tips that they might otherwise neglect.
Julian opens the book with several questions posed by readers of the earlier edition. What are the tax consequences of writing a book for an agreed price, incurring reimbursable expenses only to discover that the publisher went out of business and did not pay?
Are the tax consequences different if the writing business is a part-time one?
How should an author react when one publisher sends a Form 1099 net of agent’s commissions and the other publisher sends a Form 1099 showing the gross royalty?
Must expense reimbursements included in a Form 1099 be reported?
Are the expenses incurred for a spouse who accompanies a writer to a conference deductible?
What is the tax treatment of a speaking honorarium that the speaker asks be paid to a charity?
What sort of charitable contribution is available for donating papers, photos, original manuscripts, and correspondence to a charity?
Is a charitable contribution available for an artist who paints a portrait and donates it to a church bazaar?

There are more questions. Yes, there are answers, but to discover them, buy the book.

Julian then discusses, in succession, the hobby loss and for-profit rules, the tax treatment of awards received for photography/writing and other accomplishments, depreciation deductions for writers and artists, how freelance photographers compute health insurance deductions, automobile expenses, travel expenses for spouses, the tax consequences of hiring one’s children (a plus!), home office deductions (there are mant for the freelancer), sales of homes for which home office deductions have been claimed, and clothing expenses.
Julian deals with these topics in language suitable for those who are not familiar with the technical verbiage of the Internal Revenue Code.(A major accomplishment along!)

Writers, photographers and other freelancers, especially those unfamiliar with the impact of tax law on their activities, should get themselves a copy of this book. I recommend it just as I recommended Julian’s previous books, "MARRIAGE AND DIVORCE: Savvy Ways For Persons Marrying, Married Or Divorcing To Trim Their Taxes - And They’re Legal," HOME SELLER’S GUIDE TO TAX SAVINGS: Simple Ways For Any Seller To Lower Taxes To The Legal Minimum," TAX TIPS FOR SMALL BUSINESSES: Savvy Ways For Writers, Photographers, Artists And Other Freelancers To Trim Taxes To The Legal Minimum," “Year Round Tax Savings," "Travel and Moving Expenses: How To Take Maximum Advantage Of Every Tax Break The Law Allows," and "Ultimate Tax-Saving Resource '08."
-Prof. James Edward Maule (Villanova University)

The link below for leads to a series of Q&As that are excerpted from the book.

Julian's columns are at