I have many lists that are merging together into a business, or rather a marketing plan. Right now I am focused on the book cover, the interior design, reviews, the blog and soon-to-be-launched website.
But there is another list: Business Operations. On this list are such items as:
- Receipt book for books bought in cash
- New bank account
- Thank You cards
- Cash box
- Ledger
And suddenly it hits me – this is a business. Ironically, I have not been too concerned with break even numbers, how to spend the first million (okay, I have that meticulously planned), or very much on the fiscal side.
There is a budget in place to ensure that I don’t invest beyond the amount agreed with my wife, but this has rarely been a focus. The novel is finished, I want to tell my story to the world, and I am ready to put in some time to market it and seriously explore its potential.
Next weekend I will file my family’s taxes. They are very simple: a single income, a few bank accounts, my wife’s studies – all easily handled by Turbo Tax. Next year there will be an additional income stream, a home business and who knows what.
Next year it won’t be so simple … I hope.
Good Writing,
Alon
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1 comment:
Alon, I'm sure you know this tax tip: You, like any new small business entrepreneur (from a fruit stand to an auto dealer)are allowed to deduct all your business related expenses for at least three years before you even show any income. The U.S. Gov. wants to encourage people to start a new business. It's perfectly legal. Check it out if you haven't already come across this. And you can go back and make deductions for previous years if you haven't already deducted expenses like part of your travel, books, etc.
Good luck to you,
Harlan
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