Tax Tips Courses for Authors — MFRW Member Special

I’m EM Lynley, a long-time (lurking) member of MFRW. I’m both a published author and a licensed tax preparer in California. (My qualifications)

Every spring I run a special online tax tips class for US writers on preparing their tax returns. I constantly have people saying “I wish I knew that during the year.” So this year I am offering a special year-end tax planning class in December, with the first of the regular tax tips for authors classes starting in January.

There are plenty of important things to know for year-end tax planning that can save you some money, whether writing is your main source of income or not.

• The course is online, so you can access the lecture and Q&A anytime you like, and it won’t interfere with your holiday shopping.
• I will help you cut or eliminate self-employment taxes, which start at $400 of net writing profit, far lower than the minimum for income taxes.

(Remember, if you pay for any of the courses before December 31, you can write it off your 2013 tax return!)

I’m also running a special class at the end of January “Should I Incorporate?”

The Course Content

I run the courses on a Yahoo Group. You will get an invitation to join the relevant group after I receive your payment. You don’t have to be online when each lecture is posted. You can read at your leisure, then ask questions when you need to, or read other peoples’ questions.

The Year-End Planning Course

There will be two lectures and open Q&A for an additional week.

The Regular Tax Course

Consists of 10 lectures, open Q&A throughout the course and for an additional week. You will have unlimited access to the course lectures, Q&A, plus the option of one private tax question answered off the group.

Writers, are you stymied by Schedule C and self-employment tax? Not sure you’re getting all the deductions you deserve, or uncertain precisely what the IRS allows? You just want to know how to fill in your forms and what you can and can’t deduct. I will answer those questions, as well as provide additional useful and necessary information for tax planning and recordkeeping.

As both a writer and a tax preparer, I offer expert knowledge that usually costs hundreds of dollars in tax prep fees.

Lecture topics include: Hobby vs. Business, Legal Issues, What Expenses are Deductible?, Schedule C Walkthrough, Self-employment Tax, Quarterly Estimated Tax, Deductions for Unpublished Authors

Should I Incorporate?

This one is new. Many people wonder if incorporating is the right move for their writing business. For some it will save taxes, but for others it may prove an unnecessary expense. Find out which business entity makes the most sense for your specific situation: sole proprietorship, S-Corp, or LLC.

Course Q&A

Once you pay the registration fee and log into the Yahoo Group, you can start posting questions. I will address every participant question either within a lecture or separately if it is not covered in a regular lecture topic. Participant questions help shape the course, so I can make sure to address your specific needs.

Five Course Options

1. Year-End Planning (December 20-21) + Regular Tax Course (January 10-20) = $25 paid by December 21–$22 for MFRW members.
2. Year End Planning ONLY (December 20-21) = $10 paid by December 21
3. Regular Tax Course ONLY (January 10-20) = $20 paid any time
4. Should I Incorporate? (January 25-31) = $30 ($25 for MFRW members)
5. The Full Monty (All Three Courses) = $50 ($40 if paid by December 21–$35 for MFRW members)

6. Pick up a copy of my book Tax Tips for Authors, from Amazon.

Registration

or PayPal the appropriate fee to em@smoothdraft.com with your name (register with pen name or real name. I won’t connect the two unless you want to) and the name of the course you want to join.

Questions?

Email me if you have any questions: em@emlynley.com