Stephanie Hurt – Romance Author

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Accounting & Book Sales…

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You are excited, you sold a book, you sold many books, you’re making money. Now what? Well, if you have read my profile you know I’m an Accountant by day and by night during tax season. (Grinning broadly). I want to give some advice and I want to make it clear I’m not telling you how to run your publishing business, but this is advice to help you have a good experience.

I was talking with a friend the other day and she was giddy with delight because she’d sold several of her newly published book. She was adding it in her mind and grinning broadly. I was excited for her because I’ve felt the same feeling and it is a good one. But then as her Accountant I had to bring up the inevitable which is royalty tax. Well, she looked at me and said, “Oh my gosh, I hadn’t thought of that. What do I need to do?”

Well, the fact is, those wonderful sales are actually taxable income. I don’t want to burst your bubble, but I do want to help you get ahead of the game. Make sure that you save some of those royalty dollars to cover the taxes at the end of the year. But, don’t forget to save all those expenses that you have incurred along the way. Some of those expenses are: publishing software, advertising, fees paid for pictures used for covers or trailers, fees paid to reviewers or editors, and the list goes on.

I want to help my new cyber friends (and I do consider you friends). So here is some free advice. Don’t forget that you will have to pay taxes on those royalties, but don’t forget the expenses that go along with them. If you keep yourself on level ground, then when tax time comes around, you won’t get a horrible surprise. I see it happen every year.

Author: stephaniehurt

Stephanie Hurt lives in Georgia with her husband Tommy and their son Hunter, along with two dogs, Daisy and Jake. When Stephanie is not lost in one of the worlds that she creates, she's an accountant and children's minister. She has been writing the stories that fill her mind since she was a teenager. The moment a story comes into her mind, she's mesmerized and soon she's diving into the story with a cup of hot green tea and a notebook. Before long, the story has bones and is ready for the laptop. She happily types away in the early morning and at night. You can always find her with a notebook full of stories that have yet to come to life. Follow her journey in each of her over 40 published works! Stephanie Payne Hurt loves to hear from fans and hopes that she's helped them go to another world for at least a while! Connect with Author: Twitter: https://twitter.com/StephanieHurt4 Email: https://stephaniehurt4@gmail.com Website: www.stephaniehurtauthor.com Facebook: https://www.facebook.com/StephaniePayneHurt Sign up for my newsletter at www.stephaniehurtauthor.com to keep up with upcoming events and new releases.

One thought on “Accounting & Book Sales…

  1. Thanks for the information. It’s usually not something you think about while the thrill of book sales is coursing through every fiber of your being. 🙂

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