Showing posts with label business expenses. Show all posts
Showing posts with label business expenses. Show all posts

Monday, March 28, 2011

Internet Writers Walk a Fine Line

As all of my readers know, I love the idea of making money with my internet writing. I've been a professional writer for over 20 years and that is what I do. I also love helping other internet writers make money with their internet writing. It is my way of "giving back" to those who helped me get where I am today. However, there are certain causes and issues that are close to my heart. As a "niche-less gut writer," I write about those causes and issues. I make money off the internet article I write about them.

"How do you justify taking advantage and exploiting of the victims of the Westboro Baptist Church by writing about them and making money off them?" an email I received recently asked.

Excellent question. I am writing about their horrible encounters with the Westboro Baptist Church. I am making money off those encounters. How can I justify that? It is a fine line that internet writers (and all writers) walk. The purpose of writing is to educate, inform and entertain. And, of course, to make money - for those of us who write professionally.

That question has made me pause and consider my true motives for writing about the Westboro Baptist Church as well as other issues and causes that make up my writing portfolio. Is making money off the pain and suffering of others my main objective when I write about the causes and issues I feel strongly about? If it isn't my main objective, how heavily does the money weigh in my decision to write about them? Thankfully, I didn't have to ponder those questions too long. I know my heart and I know my motives.

Truth be told, I made a huge mistake in writing about the Westboro Baptist Church. I never really considered the money I would be making. I got mad. I thought about what they were doing and I got even madder. My anger at those "failed humans" completely overrode the business side of my brain. I knew I would page views. I knew that people would be reading my articles, but that is where it ended. I wanted the truth to be told and so I wrote.

I am going to continue to make mistakes when I write about the Westboro Baptist Church. I'm going with my gut and with my heart. I won't go back and tweak the keywords which is what a good internet writer would do. Whatever travels from my brain down through my arms and fingers onto the screen is what will be published.

That, too, is a fine line I must walk. I know that when I write straight from the heart that is shows on the screen (or page) and there is nothing I can do about that. Those "straight from the heart articles" usually do better than my others. I call that "accidental and unintentional money."

I suppose I could stop writing about things I feel passionately about to maintain some sense of integrity as a writer. If I did that, I would no longer write about politics, animals, my family, the elderly, my faith...The list would be never ending. I would become a "fluff writer" without any substance. That is when I feel I would lose all sense of integrity as a writer. I make no apologies for writing about those topics. Whether money is made off those internet articles is not the reason I write about them. I write about them because I'd go (even more) insane if I didn't. 

This blog has been about making money as an internet writer. I am also ashamed to say that. Not once have I addressed the emotional side of writing. It has been all about writing for money. I truly apologize for that. I have left out the real reason that real writers write. That real reason is because we have a thought or a feeling we can't get out until we put it into words.

Despite the fine line between writing from the heart and making money off those causes and issues, that is what we must do as internet writers. Writing fluff is fine; there are reasons to write internet articles like that. Writing those heartfelt internet articles and making money off of them is also fine. We must each find our own moral compass and go where it leads.

Friday, January 21, 2011

Online Writing and Taxes

Yippie! You are an online writer making money. Not so yippie is the fact you have to pay taxes on the money you are making from your online articles. Seeing freelance writers are thought of as contractors and taxes are not taken out of our pay, we must take care of this ourselves. As much as everyone hates the thought of dealing with taxes, it is a part of life that we all must deal with. These are just a few tips that can help you deal with paying taxes on your online earnings. [To get all the legalities out of the way, here is the disclaimer - I am not a tax professional or an attorney. You should always contact a tax professional or attorney for your specific questions and needs.]
  • Not DIY - Taxes is not a do it yourself endeavor. Speak with a CPA or tax attorney when it comes time to deal with your taxes. Tax laws are always changing and you must stay current. One minor mistake with your taxes and it can cost you thousands of dollars. Leave your taxes to the tax professionals.
  • Tax Write-Offs - Take advantage of all the tax write-offs you can. As an online writer, you are using the internet and electricity. Portions of these expenses can usually be deducted from you taxes. If you write from home, measure the amount of "office space" you use. This can usually be deducted from your taxes as well.
  • Start an SEP Plan - An SEP Plan is a "Simplified Employer Pension." They are fairly easy to set up. Contributions to your SEP plan are tax deductible and usually exceed the deductions of an IRA. An SEP plan will allow you to save for your retirement.
  • Miscellaneous Expenses - Remember to deduct miscellaneous expenses from your taxes. Save your receipts for paper, pens, paper clips and the like. Any additional computer programs or computer equipment you purchase to help with your online writing may also be tax deductible. Gas back and forth to the library and to pick up additional supplies may also be tax deductible.
  • Health Insurance - Health insurance and other medical expenses may also be tax deductible. Chances are that as an online writer are paying for your health insurance out of your own pocket, not part of a group plan, and you should do all you can to deduct a portion of that from your taxes.
  • Saving for Taxes - Online writers should should save a portion of their earnings to pay their taxes. Depending on your tax bracket, the specific percentage will vary greatly. I recommend saving 35 to 40% of all your earnings to pay taxes. That should cover federal, state and local taxes as well as Social Security and self-employment taxes. Hopefully, that percentage will be higher than your actual taxes. Saving that much money is not always easy, but it certainly isn't as hard as scrambling for the money to pay your taxes when they are due.
Online writers should also consider becoming an actual business. One of the simplest ways to do that is to become an LLC, limited-liability company. Speak with an attorney to see what would be best for you and your circumstances.

As much fun as being an online writer is and getting paid for it, you have to deal with the not-so-fun business of taxes. Speak with a tax professional or tax attorney before you make any type of decisions or try to get deductions. Tax laws vary and are constantly changing and you do not want any trouble with the IRS. It can not be stressed enough - SPEAK WITH A TAX PROFESSIONAL OR TAX ATTORNEY!