The Royalty Factor A Writer Guide to Reducing Taxes Tamara Brown 9780998515212 Books
Download As PDF : The Royalty Factor A Writer Guide to Reducing Taxes Tamara Brown 9780998515212 Books
Knowing how to claim your royalties can be confusing, but it doesn’t have to be. The Royalty Factor is a guide that helps writers and published authors easily navigate their way through filing a tax return. It talks about the different ways to classify income (sales), as well as, how expenses can be used to reduce tax liability. Inside, the author describes the various IRS forms by detailing the purpose line by line. By the end of this guide, published authors and writers will understand the correct way to file a tax return. The author, Tamara Brown, is an experienced tax preparer specializing in small business returns. She is also a published author who understands the many ways a writer can receive money and the expenses that come with it!
The Royalty Factor A Writer Guide to Reducing Taxes Tamara Brown 9780998515212 Books
As an author and publisher it stands to reason that as one writes and publishes they also continue to learn the business and all that goes with it. I began publishing my works in 2007. Of course I assumed that I had to learn more about writing, editing, marketing, branding and publishing. I bought books and as I weeded out the promotional scams, I thought more about outsourcing. It held to reason that those who have done whatever I needed for years knew more than I did. I sought various avenues, again weeding out those whose sites or pages were more than they could ever deliver. Not once did I give my taxes any questions, after all, I had my taxes done without a glitch by a reputable preparer for years. Adding a business would be no different.....or so I thought.My 2012 and 2013 taxes were audited. The problem.....the business. The auditor stated emphatically it was a hobby not a business. I felt belittled. Here I was with published works, no they weren't best sellers yet, but they were more than a mere hobby. Insulted I questioned over and over what was the problem with my deductions, my claims to expenses paid and how was I going to pay the tax and penalties presented. It was then I found out that my tax preparer didn't know much about the business of publishing as it pertained to taxes. He had put things in the wrong place, claimed items that shouldn't have been claimed and didn't claim what clearly could have been claimed. So to the tune of close to $$$$$, I would have to pay the IRS. The next year I changed my preparer but it didn't get better. I filed my business as a hobby without understanding why. The option was not favorable, and to be honest, not understood. I learned one lesson from it all...... I had to learn more about taxes if I wanted to claim my work as a business and seek a preparer who understood it as well.
Tamara Brown contacted me and asked would I review her latest book. I agreed with no knowledge of the genre or seeing any promotions for "The Royalty Factor". As I mentioned I've read books about publishing. I've attended webinars, workshops, etc. to learn how, enhance my writing and publish my books. I never thought that I needed to research tax reductions. This guide for writer's details in thirty-nine pages what is a legitimate deduction and where to insert the numbers. It breaks down the terminology and gives links to IRS information if more information is needed. The book is dedicated to authors, entrepreneurs and those who wish to claim small businesses. It also has a segment that defines clearly the difference between a business and a hobby.
Tamara Brown has penned "How to file business taxes for dummies". Of course keeping it professional, as it should be, she didn't give her work this title. However, I knew I was a dummy when it came to this topic so I buckled down not only to read her book but to learn a few things. I was delighted to find that the language was not filled with technical terms. I had no problem understanding the examples. I followed along and went back over pages as I remembered my fiasco with the IRS.
This essential tool also has a workbook which I can't wait to receive. Both can be ordered on Amazon, what a relief. I will be using the workbook and the guide even though I have a preparer. This book would have saved me thousands.
Thank you Tamara for your work..... you will save many of us that just don't know. Your input in the book (The Wrap Up and Conclusion) reminds all that we have options, but we must follow the required guidelines to reap the benefits.
Authors, learn the business and that includes your taxes. It's an easy path when we research and outsource but just as you choose others to complete our work we need to understand what it takes. Those we choose need to understand our business as it is, not as a hobby. After writing, going through the edits, publishing and promoting, self-published authors need the advice of those who know. The Royalty Factor is a must have to understand the IRS requirements and your right to claims.
Tamara Brown is a certified tax preparer with over ten years of experience in small business. You can read more about her as she provides that information as well in her book, "The Royalty Factor". It was truly a pleasure to add another book to my resource shelf for self publishing.
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Tags : The Royalty Factor: A Writer's Guide to Reducing Taxes [Tamara Brown] on Amazon.com. *FREE* shipping on qualifying offers. Knowing how to claim your royalties can be confusing, but it doesn’t have to be. The Royalty Factor is a guide that helps writers and published authors easily navigate their way through filing a tax return. It talks about the different ways to classify income (sales),Tamara Brown,The Royalty Factor: A Writer's Guide to Reducing Taxes,Insiders Book Club, The,0998515213,BUSINESS & ECONOMICS Taxation General
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The Royalty Factor A Writer Guide to Reducing Taxes Tamara Brown 9780998515212 Books Reviews
I've had a copy of this package, the book and the workbook since the start of tax season. This guide by Tamara V. Brown, helped me breakdown my expenses, royalties, and deductions to maximize my tax filing. As this was my first year filing taxes as an author, I was lost as to what I needed to do first. Thanks to this guide I was able to process my taxes feeling confident in the results. I give this book book a five start rating and thank Tamara for taking the time to create such a guide.
The Royalty Factor by Tamara V. Brown is the guide to understanding royalties and taxes for authors. Brown breaks all of the necessary steps down and in a very user-friendly and easy format. Sure everyone has filed a tax return before but for a new author who receives royalties from sales of their books, there is more to it than just filling out a 1040 form. Brown discusses ways to distinguish sales and how not to have a tax liability.
Kudos to author Tamara V. Brown for a great manual and it is coming from someone who is definitely knowledgeable as she is a tax preparer so who else to get tax tips and advice from. As an author myself, I found this book very helpful and I recommend this book to new authors and seasoned ones too.
As an author and publisher it stands to reason that as one writes and publishes they also continue to learn the business and all that goes with it. I began publishing my works in 2007. Of course I assumed that I had to learn more about writing, editing, marketing, branding and publishing. I bought books and as I weeded out the promotional scams, I thought more about outsourcing. It held to reason that those who have done whatever I needed for years knew more than I did. I sought various avenues, again weeding out those whose sites or pages were more than they could ever deliver. Not once did I give my taxes any questions, after all, I had my taxes done without a glitch by a reputable preparer for years. Adding a business would be no different.....or so I thought.
My 2012 and 2013 taxes were audited. The problem.....the business. The auditor stated emphatically it was a hobby not a business. I felt belittled. Here I was with published works, no they weren't best sellers yet, but they were more than a mere hobby. Insulted I questioned over and over what was the problem with my deductions, my claims to expenses paid and how was I going to pay the tax and penalties presented. It was then I found out that my tax preparer didn't know much about the business of publishing as it pertained to taxes. He had put things in the wrong place, claimed items that shouldn't have been claimed and didn't claim what clearly could have been claimed. So to the tune of close to $$$$$, I would have to pay the IRS. The next year I changed my preparer but it didn't get better. I filed my business as a hobby without understanding why. The option was not favorable, and to be honest, not understood. I learned one lesson from it all...... I had to learn more about taxes if I wanted to claim my work as a business and seek a preparer who understood it as well.
Tamara Brown contacted me and asked would I review her latest book. I agreed with no knowledge of the genre or seeing any promotions for "The Royalty Factor". As I mentioned I've read books about publishing. I've attended webinars, workshops, etc. to learn how, enhance my writing and publish my books. I never thought that I needed to research tax reductions. This guide for writer's details in thirty-nine pages what is a legitimate deduction and where to insert the numbers. It breaks down the terminology and gives links to IRS information if more information is needed. The book is dedicated to authors, entrepreneurs and those who wish to claim small businesses. It also has a segment that defines clearly the difference between a business and a hobby.
Tamara Brown has penned "How to file business taxes for dummies". Of course keeping it professional, as it should be, she didn't give her work this title. However, I knew I was a dummy when it came to this topic so I buckled down not only to read her book but to learn a few things. I was delighted to find that the language was not filled with technical terms. I had no problem understanding the examples. I followed along and went back over pages as I remembered my fiasco with the IRS.
This essential tool also has a workbook which I can't wait to receive. Both can be ordered on , what a relief. I will be using the workbook and the guide even though I have a preparer. This book would have saved me thousands.
Thank you Tamara for your work..... you will save many of us that just don't know. Your input in the book (The Wrap Up and Conclusion) reminds all that we have options, but we must follow the required guidelines to reap the benefits.
Authors, learn the business and that includes your taxes. It's an easy path when we research and outsource but just as you choose others to complete our work we need to understand what it takes. Those we choose need to understand our business as it is, not as a hobby. After writing, going through the edits, publishing and promoting, self-published authors need the advice of those who know. The Royalty Factor is a must have to understand the IRS requirements and your right to claims.
Tamara Brown is a certified tax preparer with over ten years of experience in small business. You can read more about her as she provides that information as well in her book, "The Royalty Factor". It was truly a pleasure to add another book to my resource shelf for self publishing.
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