When you're writing stories, novellas, and novels, you aren't just creating something for people to read. You're creating property. Intellectual property. And like real physical property in NYC, for instance, you can claim loses and deductions on that IP. If you're lucky you will decrease your tax bill significantly or not have to pay taxes at all. It's precisely how wealthy landowners get away with not having to pay so much to the government who spends the money irresponsibly anyway.
Creating a City Block in Manhattan
Creating a City Block in Manhattan
Creating a City Block in Manhattan
When you're writing stories, novellas, and novels, you aren't just creating something for people to read. You're creating property. Intellectual property. And like real physical property in NYC, for instance, you can claim loses and deductions on that IP. If you're lucky you will decrease your tax bill significantly or not have to pay taxes at all. It's precisely how wealthy landowners get away with not having to pay so much to the government who spends the money irresponsibly anyway.