MAMalody Posted May 29, 2015 Report Share Posted May 29, 2015 I have a client that is turning out to be an author. How are the expenses for a book handled for tax purposes? Are they simply held and accumulated as basis in the book? Is there an online source I can review? Anything on the IRS web site? In this case we are talking prepayments to publisher, etc. Quote Link to comment Share on other sites More sharing options...
Elrod Posted May 29, 2015 Report Share Posted May 29, 2015 MAMalody, Try these...hope they helphttp://www.nolo.com/legal-encyclopedia/tax-deductions-writers.htmlhttp://writersrelief.com/blog/2012/03/taxes-for-writers-expenses-that-you-can-and-cant-write-off/http://www.irs.gov/irb/2004-20_IRB/ar08.html 1 Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted May 29, 2015 Report Share Posted May 29, 2015 Is it a hobby or a real business? Are they using a 'vanity' publisher? A lot of my 'authors' never made any money and I switched them all to hobbies. Quote Link to comment Share on other sites More sharing options...
MAMalody Posted May 31, 2015 Author Report Share Posted May 31, 2015 Elrod, thanks. I had seen Nolo before, I don't know why I didn't think of them this time.jmdaviscpa, the is an actual writer. Her husband has died and she is using writing to support herself and her kids. Thanks for the help. Quote Link to comment Share on other sites More sharing options...
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