How to Handle Money as a Writer

That is, in case you actually make any ...

- BY ROB HART

I’m going to be straight with you, right from the jump—making a living at writing is hard.

But despite the challenges and setbacks (and there are a lot), I wouldn't trade it for anything. I prefer going to the gym at 10 a.m. instead of 4:45 a.m., like I did back when I had a grownup job. It's nice being my own boss; I'm one of the more reasonable managers I've ever had.

Best of all, I get to tell stories for a living.

The gig comes with a lot of homework, though. Unless you're familiar with that 1099 lifestyle, you've got to learn how to navigate the financial side of things. There are plenty of resources online, but these days, looking for information online might turn up an answer that's misleading, or straight up wrong. Thanks, artificial intelligence!

I'm going to say loudly and clearly that I am not a financial or tax professional. I generally use a calculator to do very basic math problems, just to be safe. But I worked in publishing for nearly a decade, and I've been a full-time writer since 2019, so I've learned a few things that might be helpful.

Let's start with the single most important thing you can do ...

Hire an Accountant

Unless you've got an aptitude for this kind of thing, it's a maddening and convoluted process; you're better off working with a professional. And I don't think some computer program is going to get you the best bang for your writing buck.

Personally, I did not become a writer to have to do math.

If you can, find someone who has experience working with artists—especially writers. You'll spend less time explaining the insane payment structure of advances (more on that in a bit).

But really, any legit accountant will be able to help you keep the dreaded IRS auditors at bay. Mistakes can be costly. That alone makes it a worthwhile investment.

Plus, you can write it off!