Hello Friends. This video today is based on a request that I saw in the Authortubers Facebook group.
As a disclaimer, I am not an accountant. I’m not a tax professional. I have done a lot of research and what I will explain has helped me personally based on my situation. You should always do your own research as the empowered creative entrepreneur that you are. If you are a tax professional and you are watching this and you spot errors, please tell me and I will fix it immediately.
That being said, let’s talk about taxes.
Taxes aren’t fun, but they are necessary. If you are making money as an author that is a great thing, and taxes are a side effect of that success.
Keep in mind that there are thresholds associated with earnings in terms of documentation that you should be receiving and payments that you should be making.
Do you own research too! There could be additional considerations for your unique situation (how well your business is doing, any other items impacts your taxes, your state, your city, etc.) I live in Florida so my taxes are relatively easy but there are no streetlights or sidewalks outside of the tourist areas so… there’s that.
If you have additional questions that you reasonably think I would be able to answer please post them below. For complex tax questions on your exact situation please talk to an accountant.
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