Get Ready for a New Writing Year

I looked up after Christmas and realized it was almost THE END OF THE YEAR. Oh no! Suddenly my newsletter is due in a couple days, I have to pull my financial records together for my writing business, and if I don’t use my free lunch at Georgie’s by Tuesday, I’m going to lose it. Plus I have all my regular work to do and bills to pay when all I want to do is take a vacation, preferably someplace warm. My teacher friends have another week to relax, but I’m a writer and a musician. That means I’m self-employed and need to get my act together for a new year.

If you’re a writer or any kind of artist, you’ve got some work to do, too. It falls into two categories: closing out the old year and planning for the new year.

Closing out the old year:

Finances: If you make any money with your writing, you need to report it on your income tax. You can offset that income with your writing-related expenses, but only if you’ve kept track of them throughout the year. I hope you have.  If not, start now. It doesn’t matter whether you do it by hand in a notebook, put the numbers in a spreadsheet, or use a program such as Quickbooks, but you need to keep records and keep your receipts. That way, if the IRS questions your return, you have the paperwork to back it up. While you’re at it, take a look at what you earned and what you spent. Is it out of balance? What can you do better next year?

For more on writers and taxes, see writeraid.net/2011/04/11/last-minute-tax-tips and The Writer’s Pocket Tax Guide.

Files: If you’re like me, the paper piles up and so do the computer files. Now is a good time to sort through it all. Put current projects close at hand. File or toss the rest. Clear the desk for a fresh start. It’s also a good time to purge unneeded emails and computer files.

Year-end report: Unlike big companies with stockholders and boards of directors, writers are not required to report to anyone about our year’s accomplishments, but it’s still a good idea to look back and see how you did. What did you write? What did you publish? How did you progress in your writing career? If you kept writing all year, consider your year a success.

Planning for the new year

Finances: Now is the time to buy a new ledger, start a new spreadsheet, or open a new file in your computer program to record your income and expenses for the new year. You might want to set a budget and income goals. Think about what you can do to spend less and earn more.

Setting writing goals: As you start the new year, what do you hope to accomplish in your writing in 2014? Will you finish that novel? Submit more articles? Start a blog? Take a class? Write it down and give yourself deadlines, then post your goals where you will see them every day.

Then . . . Go Write.

***

I have updated my resources page with more books and more links. Click on “Resources” above. If you find any errors or have additions to suggest, please let me know in the comments or at sufalick@gmail.com.

Jan. 2 is the deadline to sign up for my online classes, listed under “Classes” above. I’m offering courses on blogging, columns, opinionated writing, and writing and selling freelance articles. If I don’t have enough signups by Thursday, the classes will not be offered this term.

Happy New Year to one and all!

 

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