The brand new Trump tax plan has some huge modifications for the way a lot authors pay in taxes. That is arguably the largest change to the tax code because the Nineteen Eighties
So, we introduced in a CPA who has coached authors, celebrities, and small companies for over thirty-five years. He’s the man that the opposite accountants flip to with their questions. He’s sincere, inventive and good – a singular mixture. He additionally occurs to be my dad, Tom Umstattd CPA He has requested me a number of instances to not name him an “knowledgeable” so I’ll allow you to make that dedication by yourself.”
Questions:
- What are a number of the greatest modifications for authors below the brand new tax plan?
- Do it’s a must to make a revenue to be a enterprise?
- How a lot ought to authors pay in taxes?
- Render unto Caesar solely that which is Caesar’s
- What ought to authors begin doing in 2018 to cut back their tax payments in 2019?
- Enterprise Plan
- Auto Bills
- House Workplace
- Separate financial institution acct
- Do I have to be a enterprise entity?
- LLC
- Is it higher to be a corp or an LLC?
- What are some bills that authors can deduct?
- When does an creator want a CPA?
- The place can individuals discover out extra about you?
Hyperlinks:
- Tom Umstattd CPA
- 2018 Tax Course
Sponsor:
2018 Tax & Enterprise Ideas for Authors Course
We’re re-recording an all new course up to date for the Trump Tax Plan.
Within the course you’ll study:
- Whether or not or not you qualify for tax deductions to your writing-related bills (not all writers qualify). Additionally, you will discover out in regards to the 9 components the IRS makes use of to find out if somebody is an expert creator or not.
- A few easy software that may provide help to earn more money as an creator whereas serving to make you turn out to be extra audit-proof.
- Find out how to begin making a writing earnings even earlier than your first e book comes out.
- Whether or not or not you’ll want to type a enterprise entity, and which entity is finest for authors (S Corp or LLC). We will even share an inexpensive and straightforward approach to type a enterprise entity.
- 19 completely different tax deductions authors can make the most of.
- 5 methods to cut back your probabilities of being audited by the IRS.
- Find out how to keep away from widespread errors that usually get authors in hassle with the IRS.
- Not simply tax recommendation, additionally numerous normal enterprise recommendation together with a particular Indie Enterprise Plan Template a Coaching.
Spending a day speaking with a CPA would value you tons of of {dollars}. The course is simply $99 for centered recommendation particularly for authors. It comes with a 30 day refund, if you’re not completely happy.
