Go Back   CDN Business Directory > Main Category > Taxes

 
 
Thread Tools Display Modes
  #2  
Old 08-19-2008, 09:35 PM
Harlan Lunsford
Guest
 
Posts: n/a
Default Re: Deductions for writers - planning ahead

Stuart Bronstein wrote:
- quote -

> "Gil Faver" <rowdy'sboss[at]xxyz.com> wrote:
> > I thought I would start a new thread, since I am considering doing
> > the planning first, not after the trip(s).
> > > I would like to begin writing articles regarding food and travel.

> > Specifically (though not necessarily exclusively) about places to
> > travel with food themes (i.e. foreign cooking schools and classes,
> > tours related to dining and food processing and related
> > agriculture).
> > > I have a professional background, now retired. I have legitimate

> > food credentials as well (newly acquired).
> > > What do I need to do to have this be a business, for tax

> > deductions? And, what types of deductions could I take for my
> > planning, traveling, excursioning, dining, writing, and sales
> > efforts (of my writing)?

> You have to show that you intend to make a profit with this venture.
> So where and how you publish the information and how it's marketed,
> among other things, will be relevant.
> Have a good time!

I can see it now. I read an article in a magazine geared towards
Scottish Americans and wonder about how this writer wrote off his
research tax wise when writing an article extolling the virtues
of haggis.

WAITAMINUTE! I know that fellow!

Slainte!
Harlan Lunsford, EA n LA

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #1  
Old 08-19-2008, 09:32 PM
Mark Bole
Guest
 
Posts: n/a
Default Re: Deductions for writers - planning ahead

Gil Faver wrote:

- quote -

> what types of deductions could I take for my planning, traveling,
> excursioning, dining, writing, and sales efforts (of my writing)?


Ordinary and necessary expense deductions. IRS Pub 535 is a good place
to start.

-Mark Bole

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 
Old 08-19-2008, 09:15 PM
Stuart Bronstein
Guest
 
Posts: n/a
Default Re: Deductions for writers - planning ahead

"Gil Faver" <rowdy'sboss[at]xxyz.com> wrote:

- quote -

> I thought I would start a new thread, since I am considering doing
> the planning first, not after the trip(s).
> I would like to begin writing articles regarding food and travel.
> Specifically (though not necessarily exclusively) about places to
> travel with food themes (i.e. foreign cooking schools and classes,
> tours related to dining and food processing and related
> agriculture).
> I have a professional background, now retired. I have legitimate
> food credentials as well (newly acquired).
> What do I need to do to have this be a business, for tax
> deductions? And, what types of deductions could I take for my
> planning, traveling, excursioning, dining, writing, and sales
> efforts (of my writing)?


You have to show that you intend to make a profit with this venture.
So where and how you publish the information and how it's marketed,
among other things, will be relevant.

Have a good time!

Stu

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #-1  
Old 08-19-2008, 08:26 PM
Gil Faver
Guest
 
Posts: n/a
Default Deductions for writers - planning ahead

I thought I would start a new thread, since I am considering doing the
planning first, not after the trip(s).

I would like to begin writing articles regarding food and travel.
Specifically (though not necessarily exclusively) about places to travel
with food themes (i.e. foreign cooking schools and classes, tours related to
dining and food processing and related agriculture).

I have a professional background, now retired. I have legitimate food
credentials as well (newly acquired).

What do I need to do to have this be a business, for tax deductions? And,
what types of deductions could I take for my planning, traveling,
excursioning, dining, writing, and sales efforts (of my writing)?

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 

Tags
ahead, deductions, planning, writers
Similar Threads
Thread Forum Replies Last Post
Deductions for writers
Dick Adams: My brother who is also a CPA asked me two questions today. One of them I sent back to him for more detail. I will post it if he gets back to me...
Taxes 16 08-21-2008 03:19 PM
AMT - how do I plan ahead?
Gil Faver: Living in a high state income tax state, I am occasionally subject to the AMT. How do I do a rough calculation to see if it makes sense to pay my...
Taxes 9 12-24-2007 05:21 PM
Expenses for artists/writers questions
David Kilo: Ok, lets say I am a longtime journalist, both freelance and staff. But then I take a year or so off and move to Paris to write a novel about Paris....
Taxes 3 11-04-2004 07:34 AM



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

All times are GMT. The time now is 04:42 PM.