I saw Seven Things a Self-Employed Writer
Should Know About Taxes by John Murray, CPA in the latest issue of Small Publishers Assn of North America’s newsletter and thought, as the weeks wind down toward April 15, that it did a nice job of covering the basics. So I’m sharing it here, too.

Here’s a quick summary. Some will be obvious, some not so.

• Keep good records - I’d add keep your business records separate from your personal. No commingling! Spring for the separate checking account and phone number, if nothing else.
• Mileage - 2007 is 48.5¢ for every business mile driven.
• Travel - IRS standard for deducting travel is that the primary purpose of the travel
  should be related to the business of writing.
• Meals - An interview or presenting a proposal to a client are typical examples of
  deductible business meals.
• Research - Writers are allowed to write off research expenses even though they are not yet
  receiving any income from the project.
• Computer Expenses - Keeping track of your income, a running receivable list of what you are owed as
  well as all the expense stuff, is critical.
• And most importantly, take your business seriously - if you don’t, trust me, your clients won’t take you seriously either.

Maven’s Maxim
Always remember, you’re running a copywriting BUSINESS. Pay attention to the inflow as well as the outflow. Only the federal government is allowed to spend more than it earns :=)