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I live in the US, so I'm referring to US tax code.
I know I'm getting a head of myself (not one of my four books has been picked up by either a publisher or an agent), however, what are you allowed to write off as expenses against earnings for a book?
And can they span tax years? Or if you spent money last year, but didn't get your book published until this year, or maybe 5 years after, are you screwed?
I know I'm getting a head of myself (not one of my four books has been picked up by either a publisher or an agent), however, what are you allowed to write off as expenses against earnings for a book?
And can they span tax years? Or if you spent money last year, but didn't get your book published until this year, or maybe 5 years after, are you screwed?