Tax Season Is Here!

Even though the deadline for W-2s and 1099s to be sent isn't until next Monday, ours have been streaming in since the second week of January. Computers make calculations and delivery SOOO much easier.

Of course, you've been keeping track of your writing income and expenses. Yes, if you sell your stories or license them to someone else for a fee, you need to report this stuff to the IRS.

How you keep track is up to you. I don't have any employees so that makes things a lot easier. I use Quicken for both household and business expenses. However, you can use a calculator and a notebook, a spreadsheet, or whatever your heart desires.

I do a much better job of tracking business numbers than I do medical expenses. The medical crap is the stuff I always have to cross check fifty times. The rest? I have standard reports I run once I get those last, pesky December receipts entered.

Keeping better track of your expenses and income through the year will make your life so much easier at tax time. Have a dedicated file cabinet or drawer and clearly marked folders to keep your paperwork in case you need to double check your documentation.

Whatever you do, don't leave everything until April. You'll save yourself a lot of headaches and get your refund back from the government a lot sooner!