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Writing: Business or Hobby?

Story Empire

Hey, SE gang, Mae here with a reminder that tax time is looming. Ugh!

A battle struggling writers often face is whether or not the IRS considers their efforts a business or hobby. Very few of us make bucketfuls of money as writers. For most, expenses outweigh profits during the first few years. That sad reality aside, you need to report those expenses if you’re trying to establish a business. I’m by no means an expert, but here are a few things you can do to keep Uncle Sam from viewing your enterprise as a hobby:

Detailed Record Keeping
This may seem obvious, but the more detailed records you can produce (in the event of a dreaded audit) the more favorable the outcome is likely to be. Keep receipts and make notations on each. In addition, use a spreadsheet to track and itemize by category. I use headings such as

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About The Owl Lady

Viv Drewa is a Michigan native who has enjoyed reading and writing since 1963. Though she studied medicinal chemistry at the University of Michigan, her passion has always been writing. She had been awarded third place for her nonfiction short story about her grandfather's escape from Poland. Later, she rewrote this story and was published in the "Polish American Journal" as "From the Pages of Grandfather's Life" and has republished it on Amazon.com as a short story. Viv took creative and journalism courses to help in her transition to fulfill her dream of becoming a writer. She worked as an intern for Port Huron's 'The Times Herald", and also wrote, edited and did the layout or the Blue Water Multiple Sclerosis newsletter "Thumb Prints." She also has a business promoting authors. Owl and Pussycat Book Promotions. Viv, her husband Bob and their cat Princess, live in Fort Gratiot, Michigan.

2 comments on “Writing: Business or Hobby?

  1. Thank you kindly, as always, Viv! 🙂

    Liked by 1 person

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