Bookkeeping and Accounting for Public Speakers

Yes, as a public speaker, your travel expenses and accommodations are generally tax deductible. Expenses linked to travel, such as transportation, meals, and accommodation costs, may be deducted if they are necessary for your speaking engagement. However, it's important to note that these expenses must be directly related to your work as a public speaker, with the intention of generating business income. Rules on tax deductions can vary, so it is recommended to consult with a professional tax advisor or bookkeeper knowledgeable in your field to ensure you are correctly following tax laws.

As a public speaker, you may be eligible to claim several specific expenses on your annual income tax return. These can include:

• Travel Expenses: If travel is required for your speaking engagements, you can usually deduct travel costs, including airfare, accommodation, meals and incidental expenses.
• Home Office Expenses: If a portion of your home is used solely for your work as a speaker, then you can typically claim a portion of your housing costs such as rent, utilities, and home insurance.
• Marketing and Promotion: Any cost associated with promoting your service, including website maintenance, business cards, and advertisement expenses can generally be deducted.
• Professional Development: Fees associated with professional development seminars, workshops, or events aimed at improving your skills as a public speaker can often be claimed.
• Equipment: The cost of any equipment essential to your work, such as a laptop, mic or sound system may also be deductible.

As always, it's important to consult with a professional accountant to ensure that you're making appropriate deductions. Tax laws can vary greatly by location and individual circumstances.

A bookkeeper can play an invaluable role in managing your diverse income streams, including royalties, speaker's fees, and more. They can keep track of all incoming payments, ensure you are paid promptly and correctly, and record these transactions properly for taxation purposes. Furthermore, if you have multiple income sources, a bookkeeper can provide a clear, organized overview of your finances, allowing you to make informed financial decisions. Finally, a bookkeeper can also take care of paying any associated expenses, ensuring you meet all your financial obligations in a timely manner. By entrusting this task to a professional bookkeeper, you can free up more time to focus on your primary professional endeavors.

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.