Overview

If you're like most writers, you're probably beside yourself wondering what you can deduct against your writing income when it comes to taxes. What does the Internal Revenue Service allow? What deductions send up a red flag? Will you be audited? And the big one: How much will you have to pay in taxes? Your tax liability will be greater than if you were on the payroll. When you find out how much greater, you'll want to find all the deductions you can get. This book is for UK authors, particularly the new ebook authors, many of whom do not realize the wide range of expenses they may legally claim as tax deductions. Where an author's income is lower than the expenses claimed - which is often the case in the early years - the author will usually enjoy a repayment of tax. Even for the established authors, the principles contained in this book, when properly applied, will significantly lower their tax liability.

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