tag:blogger.com,1999:blog-4298336608815154749.post6485258127621987349..comments2024-01-04T14:46:02.961-06:00Comments on The Writers' Lens: To Travel or Not To TravelT.W. Fendleyhttp://www.blogger.com/profile/07496256845481383834noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4298336608815154749.post-53176326320199552432012-02-16T19:28:03.433-06:002012-02-16T19:28:03.433-06:00Janet's right - I did not mean to imply you co...Janet's right - I did not mean to imply you could recoup the entire trip's expenses. That will never happen, writers can get many expenses deducted, but there are limits - talk to a tax expert - I am not one. My point was simply if you are going make certain to tell your accountant.Brad R. Cookhttps://www.blogger.com/profile/10723349178999743573noreply@blogger.comtag:blogger.com,1999:blog-4298336608815154749.post-37377310998451090152012-02-16T15:46:33.722-06:002012-02-16T15:46:33.722-06:00I just have a comment on the point about travel ex...I just have a comment on the point about travel expenses being tax deductible. That's true, but how much of it is deductible depends on a lot of factors. It's unlikely a writer would recoup the entire cost of the trip via tax deduction alone. Absolutely turn over all your receipts to your accountant, but don't expect to break even on the cost courtesy of Uncle Sam.<br /><br />However, what you don't recoup up as a business expense, you'll make in profit from the million or so copies you'll sell on the day your amazing book launches.<br /><br /><br />When I was a very young writer, I was told that the IRS code was set up so that writers could not deduct research expenses until the year in which the projece was published and drew income. It was treated as a cost of goods sold instead of a business expense. That meant an author could be out-of-pocket on expenses for years before they were able to deduct any of them. I'm sure glad that's not the case now.Anonymousnoreply@blogger.com