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Casual Articles - Tax Tips for Writers & Authors
If you are starting an online business you know that one of your main objectives is to get people to see your website or blog. But how do you do this? Chances are that you may not have a lot of money to put into advertising your blog or website and you want free advertising that really works and gets you the best results. What you are looking for is free targeted advertising.Targeted advertising is advertising that attracts customers who really are interested in your product or service, rather than just a whole lot of other website owners who are looking at your advert so you will look at theirs. Th
In comparison, suppose that Jane averages $60,000 a year, but sees her income fluctuate between $30,000 a year and $90,000 a year. She still makes $60,000 a year on average. Yet if she also has a spouse, two kids and a mortgage, she'll probably pay $8,
If you remember the sonic boom of the early “faster-than-the-speed-of-sound” flights, then you may not be taken totally off-guard by the boom created across America during the “faster-than-you-can-say-hippie” employee shortages and knowledge loss expected to occur during the exodus of the baby boomers from the workforce. The start of what may be the largest demographic change to hit the American workforce began last year.The first of the Baby Boomer generation turned 60 years old, and every seven seconds for the next eighteen years another baby boomer will turn 60. With approximatel
If I can, I try to weasel my way out of the discussion, offering up such basic tidbits as, "Well, be sure to look at the home office deduction." And "do use a basic accounting program like Quicken or Microsoft Money so you capture all of your writing business expenses."
Usually, those simplistic answers work. Usually, after dolling out such drivel, the guy wanders off to get another drink and more appetizers.
Everyone once in a while, though, I encounter some writer who's really motivated to save on taxes. Usually, someone now making good money writing... When I can't deflect their questions in some other way, I tell them about the three best ways that authors have to save on taxes.
Technique #1: Smooth Your Income
Whatever you think of the US Internal Revenue Code, you need to know that it's quite progressive. That progressivity means the more you make, the more you pay. The progressivity also means that if your income fluctuates, your income taxes go up even if you make the same money on average as someone else makes whose income is steady.
To give you an example of this, suppose that you compare two writers, John and Jane. If John makes a steady $60,000 a year and has a mortgage, a spouse and couple of kids, he might pay about $1000 over four years (net of tax credits such as for children.)
In comparison, suppose that Jane averages $60,000 a year, but sees her income fluctuate between $30,000 a year and $90,000 a year. She still makes $60,000 a year on average. Yet if she also has a spouse, two kids and a mortgage, she'll probably pay $8,0
One of the many benefits of Six Sigma is how it helps to develop people. The dual processes of Six Sigma training and Six Sigma projects cultivate excellence in not only product quality and financial savings but also in the knowledge, confidence, and quality of the people in your organization. People are, after all, your organizations' most valuable assets. To sustain and continuously improve, an organization needs to develop its people. Six Sigma helps to develop your people in two areas: it develops leaders and it empowers people to be knowledgeable and valuable contributors to the organization's success.
Usually, those simplistic answers work. Usually, after dolling out such drivel, the guy wanders off to get another drink and more appetizers.
Everyone once in a while, though, I encounter some writer who's really motivated to save on taxes. Usually, someone now making good money writing... When I can't deflect their questions in some other way, I tell them about the three best ways that authors have to save on taxes.
Technique #1: Smooth Your Income
Whatever you think of the US Internal Revenue Code, you need to know that it's quite progressive. That progressivity means the more you make, the more you pay. The progressivity also means that if your income fluctuates, your income taxes go up even if you make the same money on average as someone else makes whose income is steady.
To give you an example of this, suppose that you compare two writers, John and Jane. If John makes a steady $60,000 a year and has a mortgage, a spouse and couple of kids, he might pay about $1000 over four years (net of tax credits such as for children.)
In comparison, suppose that Jane averages $60,000 a year, but sees her income fluctuate between $30,000 a year and $90,000 a year. She still makes $60,000 a year on average. Yet if she also has a spouse, two kids and a mortgage, she'll probably pay $8,
Medical billing is complicated enough without having to know every inch of your billing software by heart. Because of all the complexities involved, medical billing software manuals are not only critical but they're also enormous. As a matter of fact, most medical billing software manuals are shipped in parts. So you have a decent chance of finding what it is you're looking for, we're going to give you a general breakdown of how a DME software manual is put together.The first section of the manual is usually where you will find your installation instructions. These will contain step-by-step procedures
Technique #1: Smooth Your Income
Whatever you think of the US Internal Revenue Code, you need to know that it's quite progressive. That progressivity means the more you make, the more you pay. The progressivity also means that if your income fluctuates, your income taxes go up even if you make the same money on average as someone else makes whose income is steady.
To give you an example of this, suppose that you compare two writers, John and Jane. If John makes a steady $60,000 a year and has a mortgage, a spouse and couple of kids, he might pay about $1000 over four years (net of tax credits such as for children.)
In comparison, suppose that Jane averages $60,000 a year, but sees her income fluctuate between $30,000 a year and $90,000 a year. She still makes $60,000 a year on average. Yet if she also has a spouse, two kids and a mortgage, she'll probably pay $8,
Besides using coupons and scanning your community advertisements for the grocery and sundry products that are on sale, here are several other tips and tricks for saving on your groceries and staying healthy at the same time.1. Buy More Than Just OneWhen your favorite imperishable food and sundry products come on sale, don’t just buy one or two, buy ten, fifteen or twenty. For an example in our family of five, we only use extra virgin olive oil and that tends to get expensive. Occasionally it comes on sale and when it does, depending on how many gallons we buy, we usually save two dollars per gallon.
To give you an example of this, suppose that you compare two writers, John and Jane. If John makes a steady $60,000 a year and has a mortgage, a spouse and couple of kids, he might pay about $1000 over four years (net of tax credits such as for children.)
In comparison, suppose that Jane averages $60,000 a year, but sees her income fluctuate between $30,000 a year and $90,000 a year. She still makes $60,000 a year on average. Yet if she also has a spouse, two kids and a mortgage, she'll probably pay $8,
Just as an oak tree takes time to grow, the same applies to an internet home business if it is given the attention it needs.Firstly, ensure that your internet home business website is nestled safely and comfortably in the hands of a respectable and longstanding hosting company where you are allocated plenty of space for the roots of your internet home business to become large and established. You will want to avoid the need to transplant the website to a new hosting company, should the original one become too small, unreliable or simply vanish from the internet altogether.In order for the roots and
In comparison, suppose that Jane averages $60,000 a year, but sees her income fluctuate between $30,000 a year and $90,000 a year. She still makes $60,000 a year on average. Yet if she also has a spouse, two kids and a mortgage, she'll probably pay $8,000 to $10,000 in taxes over those same four years.
Please note that over the same four years, then, the two writers make the same amount of money: $240,000. But what they pay in taxes differs radically. Jane pays eight to ten times what John pays! Yikes!
What can Jane do? Well, let's bring this back to the example of working writers. Jane can probably rather easily smooth her income. She can make sure that she's not stacking two big advances in the same year. She can spread out advance payments over two or more years. She can even try to stuff more of her expenses into the good years. In the good years, for example, she can buy new computers, take those graduate classes, or top off her pension.
Technique #2: Setup an LLC and Elect S Corporation Status
I've written and talked much about how S corporations save taxpayers money and how the right way to set up an S corporation is first create a limited liability company and then ask the IRS to treat the LLC as an S corporation for tax purposes.
Let me review the basics here again, however. Suppose that you're making $90,000 a year as a writer or author. If you just treat your writing business as a sole proprietorship, you might pay $12,000 in income taxes on the $90,000 and then another 15.3% self-employment tax, or roughly $13,500, on the $90,000.
If you set up an LLC and have the LLC treated as an S corporati
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