WRITERS TIP Thursday

Thanks again to Gae-Lynn Woods guesting for us last week. If you failed to email me a request for a copy of her Excel Sheet, please do so.... AngelaDrake (at) webname (dot) com  She has put a lot of thought into it both from a CPA perspective and a writer's needs.

Our Tip for today is:


BUSINESS: Log Everything.
Keep track of your time spent writing, research, networking
Expenses such as conference, travel, meals (if more than 50 miles
from home) hotels.

I keep a 5x7 spiral next to my mouse pad. Whatever I do that is writing related, I write it down. This not only lets me know if I've taken care of something or not, but at the end of the day, if I've spent all day at the computer, I better have something to show for it. This is a BUSINESS, after all.

The Expenses part gets a bit trickier. I'm following Gae-Lyn's guidelines for keeping receipts. I know that not ALL of my meals are deductible. Neither are ALL my book purchases (darn-it) unless I can directly link them to a project I'm working on. So I make note of WHAT I bought and WHY in my little notebook so I have the documentation should the IRS ever have questions about a deduction. 

My tax preparer Ian Atkins, (Atkins Tax Service) gave me a mileage log book that isn't as big as a check register and fits in my wallet. I can write down Odometer Readings to and from, purpose, parking, etc. Easy Peasy to transfer to my log sheet at the end of the month (year) hehe.

If in doubt, write it down and keep the receipt. 

And that's your Writers Tip Thursday!

Angela