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 Payne Hurt has been writing stories since she was a teenager, but only started publishing her work in 2012, 30 years later. The romance genre drew her in at an early age. Since 2012 she's published over 35 Romance novels/novellas. Stephanie is a busy lady. She's a Children's Minister, Accountant, wife and mother along with a blogger and writer, along with starting a publishing service called Horseshoe Publishing alongside her publisher. It's been an exciting ride and she looks forward to what the future holds for her writing. Currently she writes romance ranging from Christian, Contemporary, Suspense and Cowboy. Her work is available at many online retailers, on her website and in a bookstore in Zebulon, Georgia near her home. Come by and visit her at http://www.stephaniehurtauthor.com/ and subscribe to get updates and release dates, also her monthly newsletter! Don't forget to join her Street Team for all the new updates and to get free chapters of upcoming books and lots of other prizes.

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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