Writing popular fiction

me
? Talk with an editor whom you've become friendly with: he'll be able to help you winnow down the possibilities. After that, you've got to count on dumb luck. Many writers go through at least one or two agents before they find one just right for them.
    34.
What's the nature of an agent-author contract
? This is a short form granting your agent exclusive permission to handle your work for the contract period—usually two years, automatically renewable—for the consideration of
10%
of all domestic sales and 20$ of all foreign sales.
    35.
Is there any clause in an agent-author contract I should be wary of
? Yes. Do not sign any agent-author agreement or any book contract handled by your agent, which contains a clause giving the agent "… permission to handle the author's work in perpetuity and forever." It is only fair that an agent share in the monies growing out of the book contract he negotiated for you. But if, in later years, you change agents, and your new agent can resell a book that the original publisher has permitted to go out of print, your old agent has no moral right to share in this new loot.
    36.
Will an agent tell me when a manuscript has been rejected and where it will go next
? If you phone him about the whereabouts of a manuscript, and if it is an important script that you both have high hopes for, he is more than willing to let you know where it stands at the moment. He cannot waste the time to keep you informed about every development, however, and he will not appreciate regular calls or letters requesting such information. Be patient. In time, you'll discover it's very pleasant to be notified only when the script sells and to be shielded from depressing rejections.
    37.
Will an agent send me my money as soon as he receives the publisher's check and takes his commission
? Yes. Agents are, almost without exception, honest with their writers.
    38. / f
I suddenly begin making big money—either by virtue of an unexpected best-seller or because I am prolific—how do I save it from the Internal Revenue Service
? Get a good accountant at once. If your sudden financial upswing takes place within a single calendar year, he will probably help you to pay on an "averaged income" basis, a device the IRS permits for those whose sudden wealth was balanced by a few years of low or moderate income prior to success. This can save you from 10% to 30% in tax payments. If your success seems to be relatively lasting, he may even suggest, depending on which state you live in, that you incorporate yourself. Federal taxes on businesses are substantially lower than they are on individuals. A good accountant will make you aware of all the legal deductions you may take and will more than pay his own fees in the money he saves you.
    39.
I am not earning enough to warrant the services of an accountant, but I would like to be sure I'm deducting all that I can. What expenses can a writer claim against his income
?
You should keep receipts and records for all of the following:
Supplies—typing paper, carbon paper, typewriter ribbons, staples,
envelopes, paper clips, pens, pencils, rubber bands, and other such
paraphernalia.
Magazine subscriptions.
Paperback and hardback books. Every book you as a writer buy is deductible as a business expense. At the end of the year, you can add up your expenditures, divide by either five or six [years], and take an average deduction each year for the next five years. If you divide by six, you are permitted to take a double deduction the first year.
Mileage. Keep a record of any driving you may do in connection with writing—to the library, to do an interview with someone, and even to drive to the bookstore to look over the new titles. You may take a standard tax deduction for each mile driven.
Postage.
Commissions, if you have an agent.
Travel—meals, hotels, gas, oil, tips. If you spend a weekend in Atlantic City, like the place, study it, and use it as background for a story, all your expenses are tax deductible. Trips to New York to talk with editors and trips to writers' conferences are also deductible.
Furniture—desk, chair, bookcases, desklamp. An average five or six year deduction for depreciation is permitted, as with the cost of your books.
Machines—typewriter, photocopier, adding machine. These expenses may be averaged and deducted as with furniture and books.
Rent. If you have an office in which you write and do nothing else, the rent is 100% deductible. If you write