Today, I would like to share with you an interview with Brigitte Thompson, author of Bookkeeping Basics for Freelance Writers.
1. Many people find numbers, especially when related to bookkeeping and taxes, intimidating. Will this book make these things easier to understand for "non-mathematical" writers?
Yes, my book breaks down complicated number crunching into easy to follow steps. By reading the book, readers will also understand why it's important to keep certain receipts and how those pieces of paper factor into the overall success of their writing business. Sometimes knowing the reasoning behind a task makes it easier to complete.
2. What made you decide to write this book?
My first book was published in 1993 and it was for a specific business, home daycare providers. Since then I have written additional books for this market and widened the scope to include other professions. Creating this book for writers was a natural step for me. As a writer, I would attend meetings and conferences with the intent of expanding my knowledge in the field; however, I would end up in conversations with other writers who had questions about their recordkeeping. The more questions I answered, the more I realized there was a huge need for this information. Writers can take advantage of some wonderful tax deductions, but only when they are aware of the possibility and know how to accurately document the expenses. My book explains it all.
3. Can you tell our readers a bit about yourself? Children? Pets?? Hobbies?
I live in the Green Mountains of Vermont with my husband and three children. We have three cats and two dogs. I enjoy walking, dancing and horseback riding. I love take walks on summer nights and curling up with a book in front of the fireplace in the winter.
4. What makes knowledge of bookkeeping important for writers?
Writers are earning money and this money needs to be reported as income on our income tax return. Claiming income without expenses means the tax liability will be higher than if we had documented expenses to post against it. Understanding what can be claimed as business expenses when you are a writer and how to properly document these expenses will help ensure the success of your business.
5. What is the one most important thing a freelance writer needs to know about keeping financial records?
Save all receipts. There are so many tax deductions available for writers, but without those receipts - it's hard to prove your case when audited.
6. Is there anything else you would like to add?
Please join us on the Writers In Business Blog
as we explore the business side of the writing profession. I will be sharing recordkeeping tips and interviewing other writers about their success.