How Writing a Book Can Save You Big Money at Tax Time

The new year is in full swing, and hopefully you're already crushing your list of resolutions. But there's one nagging detail from last year that you're probably just starting to think about now:

Paying your taxes.

Too often, we leave this unpleasant task to the last minute and end up scrambling through our memories to find deductions, reimbursable expenses, and long-lost receipts to help reduce our tax burden, all the while cursing ourselves for not being more organized throughout the year.

This year, you can take a big step toward changing that behavior, and achieve a huge personal or professional goal in the process, because writing a book with a certified ghostwriter could help you save lots of money on your taxes this year. Here's how:

If you use your book as a marketing tool to boost your personal or professional brand, then your book is an investment in your business. As such, the cost of writing a book is a tax-deductible business expense, not discernibly different than expenses for business cards, TV commercials, website design, social media marketing, and other forms of publicity. This goes for business and leadership books, personal memoir, self-help titles, history, and even novels—as long as the book is intended to help you further your business, you can write off the costs against your profits. This includes not only the fees paid to a certified ghostwriter, but also travel and lodging costs required for writing and research purposes, fees for professional memberships and conferences that you attend to promote or sell your book, and home office expenses, among other items. Down the line, you could even deduct the cost of renting space at a bookstore or restaurant to throw a release party for your newly published book. (Always consult a tax professional if you have questions about specific expenses.)

Writing your book is an investment, and you're entitled to all the tax benefits that come along with that investment. To talk more about these and other advantages of using a certified ghostwriter, call (800) 717-3314 or email to set up a free consultation.

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