Some of us think writing is a hobby. But when you start making money we have to start running it like a business. This means obtaining the necessary tax ID and sales usage forms. We have to track the mileage when we go to various events, keep receipts for parking and tolls. Whenever we buy supplies, postage, computers, etc. we are essentially writing off expenses and depreciating equipment. Sometimes we will end up owing taxes and sometimes we can look forward to a refund...I love when this happens!
Anyway, if you fell short in your record keeping for 2014, now is the perfect time to get your act together for the 2015 tax season. Well, I hope the Tax Man didn't put too bad of a hurting on you. Thankfully, I didn't get whipped that badly. So off I go to safely put my receipts away when he comes again next year.