Bookkeeping and Accounting for Copywriters

As a freelance copywriter, there are several expenses you can deduct for tax purposes, including:

• Home Office Expenses: If a part of your home is exclusively and regularly used for your business, you can claim a portion of your housing expenses such as rent or mortgage interest, property taxes, and utilities.
• Supplies and Equipment: Any supplies or equipment you purchase for your business, like computers, office supplies, or software, can be deducted.
• Professional Development: Costs associated with learning new skills, improving existing ones, or maintaining a professional certification fall under deductible expenses. This includes books, courses, seminars, webinars, and training materials.
• Travel Expenses: If you need to travel for work, you can deduct the cost of transportation, lodging, meals, and other incidental expenses.
• Advertising and Marketing: Fees paid for advertising your services, business cards, website expenses, and other promotional costs are deductible.
• Professional Fees: Fees paid to lawyers, accountants, bookkeepers, or other professionals associated with your business are deductible.

Note that tax regulations can vary from place to place and year to year. Always consult with a tax professional or the IRS's guidelines for the most accurate information.

As a copywriter with multiple revenue streams, your income tax is calculated on the total income earned from all sources in a year. This may include earnings from freelance services, self-publishing royalties, advertising revenue, or any other sources you may have. All revenue must be reported on your tax return.

Deductions can be made on your taxes for any business expenses incurred in the process of earning this revenue. These can include a home office, computer equipment, software subscriptions, research materials, travel expenses for work, and many others.

It's highly recommended to keep a meticulous record of all your income and expenses for accurate and hassle-free tax filing. You might also benefit from consulting with an accounting professional who can help you plan and manage your tax liabilities efficiently.

As a full-time copywriter, your bookkeeping needs can be quite specific and varied compared to other professions. You may need bookkeeping services to manage invoices for client work, track business-related expenses such as advertisement costs, software subscriptions, or professional development courses. Additionally, you might require assistance with tax deductions related to home office expenses, as many copywriters work remotely. Depending on your setup, you may also need to manage payroll and benefits if you have hired an assistant or other support staff.

Nope! All bookkeeping is completed in-house.

Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.

We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.