The W1S1 Check-in and Chill Lounge and Bar

Aggy B.

Not as sweet as you think
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Anyone who sells fiction for a living want to point me toward a good book on self-employment taxes and all that hoopla? It's not like I have to figure it all out NOW, but Mr. Aggy's concerned we'll overlook something important and I agree. Want to have all my ducks in a row before this suddenly turns into a career. (Hah.)

Happy Friday! :)
 

alexshvartsman

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Aggy: If you are making decent money while self-employed, do yourself a favor and use an accountant. It will cost you a couple of hundred bucks, but a professional will very likely find write-offs for you that will save you a lot more than the value of their fee.

For example, did you know that you can write off a part of your rent/mortgage if you use a certain amount of space as a home office? I didn't either, until my accountant pointed it out. If you are reporting freelance income, it's the best possible thing that could happen to your taxes because suddenly many things you couldn't deduct in a 9 to 5 job become write-offs. Your Internet access? You need it to submit stories. That subscription to Analog? A trade publication for market research, all deductible.
 

ShadowFox

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Hm, only just scraped through on my W1S1 this week... spent last two days with a massive migraine, worst I've had this year. I think it was caused by just getting over tired - I was really hammering the writing last month.

So production crawled to (almost) a halt - I only just managed to keep my 100 day + writing streak going by writing a bare minimum of 500 words a day... (although I think the words are probably not that great :( )

So, wrote a flash today, and submitted it today.

This is the 18th week - basically, every week since I heard of this thing - that I've submitted a new story. Quite proud of myself for keeping it up this long, since it is quite difficult not to end up missing weeks here and there.
 

Aggy B.

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Aggy: If you are making decent money while self-employed, do yourself a favor and use an accountant. It will cost you a couple of hundred bucks, but a professional will very likely find write-offs for you that will save you a lot more than the value of their fee.

For example, did you know that you can write off a part of your rent/mortgage if you use a certain amount of space as a home office? I didn't either, until my accountant pointed it out. If you are reporting freelance income, it's the best possible thing that could happen to your taxes because suddenly many things you couldn't deduct in a 9 to 5 job become write-offs. Your Internet access? You need it to submit stories. That subscription to Analog? A trade publication for market research, all deductible.

Actually, I did know about that. Also vehicle usage (which is how I gain internet access) and office supplies and such. I'm more trying to figure out how to document the time spent "working". I saw an article that implied that the time spent writing and editing is essentially a business expense, but it didn't give any information about how one would document or figure the cost of that expense. (And, I'm still not certain if that information is even correct.)

But, like I said, I haven't made enough money yet to worry about it. I just want to be prepared.

Aggy, optimistic
 

alexshvartsman

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I am definitely not an accountant, and you should ask one about that, but far as I know you can't write off your own time... only the expenses you pay others for (including legal and accounting fees) - but again, a professional can answer this question for you. I can recommend a good accountant (the one I use in fact) but I dont think you need to incur the expense at this stage, and it's better to use a person you are local to in any case.
 

V1c

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well, finished a draft of something last night. Now duty calls (as it did last night, I just kicked it away) and I must clean, grade, and etc. Sigh.
 

Aggy B.

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I am definitely not an accountant, and you should ask one about that, but far as I know you can't write off your own time... only the expenses you pay others for (including legal and accounting fees) - but again, a professional can answer this question for you. I can recommend a good accountant (the one I use in fact) but I dont think you need to incur the expense at this stage, and it's better to use a person you are local to in any case.

Yes. That was kind of what gave me pause. I think, the article may have been referring to billable hours done for a third party. Those could be counted as an expense. But, again, not sure.
 

virtue_summer

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Very late to the party, I know, but I recently returned to writing and this sounds like a good way to make up for some lost time, so I hope I'm not too late. Plus, I always achieve more when I feel like there's a deadline.
 

Kweei

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Hi!

Thought I would give this a whirl. I've been giving myself too many excuses not to write.

Well, this month I wrote one and subbed one. So we'll see.
 

virtue_summer

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Oh, forgot to add: subbed a story last night and writing a new one now, in between work assignments.
 

Izz

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Very late to the party, I know, but I recently returned to writing and this sounds like a good way to make up for some lost time, so I hope I'm not too late. Plus, I always achieve more when I feel like there's a deadline.
:welcome: along! It's never to late to get in on this party. Hopefully W1S1 helps you get back into writing mode :)

Hi!

Thought I would give this a whirl. I've been giving myself too many excuses not to write.

Well, this month I wrote one and subbed one. So we'll see.
:hooray: Welcome to the party! And well done for reaching your goals for this month already!
 

sammyjwebb

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Two things subbed today. One was my first attempt over at Every Day Fiction. Then what started as my 10Flash for the Quarter got sent to DSF. Figure if they bounce it I'll still have plenty of time to get it in to 10Flash.

Feeling all accomplishy today.:D
 

Emptyeye

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Got my story for 10Flash this month basically done. Just have to maneuver through their new submission process and I'll get it in to them.
 

soapdish

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Ooh, lots of new members! Welcome, guys.

I keep peeking in here, but realizing I don't have enough time to post :eek:

Almost ready to sub for the month. I think maybe tomorrow. About 2500 in on my write1, but I'm not sure it's going to come together very well. There's a chance I could abandon it at the last minute and try to bump out a flash piece. We'll see.
 

Brett Marie

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I've written on the 'Rejectomancy' thread a bunch of times, and I realize I've never 'checked in.' So here I am, trying to sub to at least one market per day (and usually a whole lot more). There's my goal. See you back on the 'Rejectomancy' thread!
 

Emptyeye

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Subbed my 1 today too! Go us! Now to work on some of the other "surplus" stuff I did the last couple months and get that sent out as well.
 

zanzjan

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Good luck, emptyeye!
Welcome, Brett Marie!
Welcome here, pangalactic!
Did I miss anyone?

Myself, I remain a humble servant to the Crickets of Spectacular Longevity.
 

Sagana

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I just thought I would stop by and say hi, I'm still around although I stalled out on my writing stuff when my work and life went crazy for awhile. Better now, but now I'm gearing up for NaNo (which I've never done before) so still on hiatus in the short story arena.

PS: I did finally get back the stories I had lost earlier. I deleted my gmail account and that changed my user name back to what I needed to get into the writing nook thing.
 

AlwaysJuly

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I've repaired my lost W1S1 spreadsheet as best I can (nothing like hunting through my email for old rejections for two hours to make me feel peppy!). And I got everything that had turned stagnant out again, so I once again have 22 stories out in the fight...
 

soapdish

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Aw, AJ, that sucks. I keep all my old story emails too. In a folder. And I hate to have to go digging through them. But you got your spreadsheet back!

I haven't really had any new words in days. :( Dammit. This is kinda uncommon for me. I don't usually have to force them so much.

Hopefully this afternoon I will be in a better state.
 

Tienci

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So I wrote my piece for October today, thinking I'd still make the Pedestal deadline but discovered when they say they're taking subs Aug 28-Oct 14, they actually mean until Oct 13th. So! Can't submit this piece there since they've closed the submission portal (although I'm kind of glad I can take out the given sentence now :eek:) and the story is definitely submittable elsewhere so yay for the inspiration to finish my W1 anyway!
This story actually started as a piece for ReadingWriters "Road to Eerie" contest but that market closed unexpectedly back in August or so and just sat in brainstorm pieces for a while but seemed an easy, natural fit for the Pedestal challenge.

Anyway, yet another lesson in trying to submit at the last minute! *sheepish* :e2bouncey (<--I know, probably not a sheep :D)
 

sammyjwebb

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So I wrote my piece for October today, thinking I'd still make the Pedestal deadline but discovered when they say they're taking subs Aug 28-Oct 14, they actually mean until Oct 13th. So! Can't submit this piece there since they've closed the submission portal (although I'm kind of glad I can take out the given sentence now :eek:) and the story is definitely submittable elsewhere so yay for the inspiration to finish my W1 anyway!
This story actually started as a piece for ReadingWriters "Road to Eerie" contest but that market closed unexpectedly back in August or so and just sat in brainstorm pieces for a while but seemed an easy, natural fit for the Pedestal challenge.

Get that story our somewhere - anywhere - quickly!

Thanks for the heads up on Pedestal's rules. It was pretty late when I sent mine on the 13th. Glad I didn't wait until the morning.