Thursday, July 23, 2009


A lot of us authors say we're not into the writing business to make money. That has to be true, judging from the data on how much authors make from books compared to the time spent writing them, as well as the time and money spent promoting them.

Still, it helps to get some of it back. I just got my author copies of Killer Career this week and sold three of them at work. It's not a lot of money, but it did feel good to have the money coming in instead of going out.

The downside is I have to go to the bank and deposit it. That's not hard to do, but putting the money into the bank isn't all. I also need to keep track of what's what. Today's deposit is subject to Illinois sales taxes, so I'm putting it in my checking account. That will remind me at the end of the year that 10 per cent is due the State of Illinois. Come December, that amount may change, as Cook County is repealing the tax increase then. That means I'll have to remember to charge less in taxes on whatever date in December it rolls back, also I'll need to fill out two separate sections in the business sales tax form.

There are other downsides to bringing in money for books. I should be happy I'm getting money, but I don't like having to keep track of it. Still, it goes with the territory.

Gee, I'd hate to be a bestselling author. What a hassle that would be. Only kidding.


  1. LOL!

    And 10%? Wow - we're only 6.75%. Of course, I have to pay quarterly for my little bit of income from direct book sales. (Which is why I'm glad I don't do a lot of those.)

    But then, the more you owe in taxes, the more income you made!

    L. Diane Wolfe

  2. I hate having to keep track, too. When we become best-selling authors, we can hire people to handle the hassle!

  3. some days i'm glad I work for somebody else, but only when the issue of tax comes up.;)

  4. Oh, yes, me, too, Morgan. I say thank you everyday for not being a NY Best-selling author! Imagine the hassle of raking in all that money, and learning what to do with it, where to put it--and worst of all--deciding which Mercedes I want!!! Ha-ha.
    If I had to do all that myself, it would be a total mess. I'm smart and know a lot about some things. but numbers throw me--really--the thought of sales tax just makes my stomach hurt. So, I'm pleased I married an accountant. Now that he's retired, he's my accountant, my business manager, and my parking lot attendant when I have a party! Good thinking on my part..Celia

  5. Yes, Morgan, I sooo agree with Celia. I hate to think of all those money hassles too. Especially which Mercedes I'd buy...only I wouldn't get a Mercedes. I'd go find about three other cars I like just as well or better and buy them all for what I'd pay for one Mercedes. See, I'm getting smarter about money already! LOL Great blog. You're right, it does feel good to have a little coming back in once in a while, doesn't it?

  6. There's a reason I don't work for NASA. I have an accountant/tax guy who tells me what I owe. :-) Otherwise, I couldn't keep track of it if I tried.

  7. Ah, I agree. The bookkeeping part of the business stinks, and I used to be a tax preparer.

    10% is crazy, spoken as an ex-Illinoisian. Ours is 6% BUT we also have a local tax on top of our state tax, so I'm not so sure which is worse.


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