Tuesday, January 10, 2017

Being a writer is a business

I posted a series of tweets on this today, but they got gunked up (probably because I've been drawing too long and am not thinking clearly about the proper way to do the whole series-of-related-tweets thing). So here they are, collected:

If you don't treat it as such, you're only fooling yourself. The IRS certainly knows the truth.
A little advice, here at the start of the year, for the writers, illustrators, cartoonists out there: Treat your work like a business.  

Get a good accountant. Set up a company. It may be an LLC, it may be an S-Corp (based on accts.' advice). Use them to your advantage.
Buy a copy of Quickbooks. Do your own bookkeeping monthly. If your business structure allows it, file monthy payroll taxes. Pay yourself.
You'll have a business bank acct. Use it. Get a corporate credit card for computer purchases, travel to school visits, confs., etc.
GET A BUSINESS LINE OF CREDIT. That's what businesses do. So when your advances are gone and you won't get paid for 6 months, you have $.
If the GOP kills the ACA, set up small biz healthcare thru your biz. That's what I did for 10 yrs till the ACA came along.
It's still hard to make a living as a writer/artist/cartoonist, but it's easier when you at least have your taxes in order.
At any rate, things I've learned from being a writer and running a tiny web design firm. It's all biz, treat it as such.