I always try to get my taxes done before the Ides of March (March 15th).  That is, when I am getting a refund.  If I have to pay, the Ides of April provides another month to raise the cash.
Fortunately, this year, I’m getting a refund.

In recent years, whenever I sit down to do the taxes I can’t help but recall some aspects of the previous year.  As my readers know, 2007 was the year I finally wrote my first significant work of fiction.  What I saw this year was that my efforts as author left a financial paper trail that I would like to share with you.

Expenses:
02/2007 $ 25  – 30 minute session with Juli Henshaw, writing coach
04/2007 $ 99  – You were Born to be Published-Tom Bird Seminar
06/2007 $700 – Payments to Editors and Proof Readers
07/2007 $ 42 –  Manuscript Copying and shipping to agents
08/2007 $145 – Flip Publisher Enterprise 3D e-book Software
09/2007 $212 – DesktopAuthor 3D e-book Software
10/2007 $187 – Domain Registration and WebHosting
10/2007 $ 19 – Registration with e-book distributor
11/2007 $814 – Travel to Blog World New Media Conference in Vegas
11/2007 $114 – Domain Registration and WebHosting for Blog
11/2007 $899 – Contracted with Dog Ear Publishing for Paperback
12/2007 $150 – Reimburse Jason Van Orden for his Blog World

Total       $3410

Sales
11/2007 – $  870 – Net e-book sales after fees and commissions
12/2007 – $2972 – Net e-book sales after fees and commissions

Total         $3842

These numbers tell a story of VERY limited success. And since I am allowed to offset my profits with “section 179” depreciation of assets as far as the IRS is concerned I actually lost money.
But since Business and the Government don’t recognize the real value I gained by writing and publishing my very own book, the wealth of the experience and the substantial satisfaction from the achievement  will never be taxed. 

And that, as they say, is Priceless.

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