Posts Tagged With: taxes

Self-publishing and Taxes

The topic of self-publishing and taxes is something I recently learned about, as I finally filed my income tax yesterday. First off, note that I’m a Canadian, so this post may not apply if you’re American. Secondly, note that the H&R Block rep I spoke with was absolutely awesome, so much so that I ended up giving him a copy of my book, which he promised to read and tell all his friends about. Yay networking!

Anyway, I’m Canadian, and the assisted publishing company I went through to publish my book — iUniverse — is an American company. Last year, I made approximately $500 in royalties off my book (feel free to gasp in awe or shake your head in pity, depending on your own self-publishing experience). I figured such a small amount would be easy enough to do taxes for. I was wrong.

So I went to H&R Block, which is one of those accounting firms who set up booths in the mall and do basic tax returns for good prices. Fair enough — I have no idea how to do my own taxes, and my return wasn’t particularly complicated this year. Or so I thought. You see, if you’re Canadian, and you need to file foreign income, the rate for the return goes way up. We’re talking double the price. Gah!

Now, I don’t know how this changes if you do your taxes yourself, or go via a professional business accountant (the ones who charge obscene rates by the hour). But it’s something to be aware of!

So the take-away from this post is:

If you’re self-publishing through a foreign company, you’re going to have to claim foreign income on your tax return! Dum dum dummmmmm!

That’s all for today. Have a lovely Wednesday, everyone, and enjoy the unrelated media below!

Unrelated media:

Categories: Self Publishing | Tags: , , , , , , , | 19 Comments

Free Short Story — “The Coin Collector”

I’m psyched to announce that after many hours of messing around with formatting and design and whatnot, my short story The Coin Collector is now available for FREE download from Smashwords! Click here to download it now!

Here’s the cover image again for your viewing delight:

the coin collector cover 1

And here’s an excerpt to get you irreparably hooked:

Pounding his fist against the dented metal door, Mr. Quimbly shouted, “Anyone in?”

“Just a moment, if you please,” a voice rumbled from inside.

After a few seconds, the door squeaked open of its own accord. A huge, gleaming claw attached to a scaly green appendage nearly the size of Mr. Quimbly’s entire body reached out toward him. Mr. Quimbly yelped, stumbling back and nearly dropping his file.

“Forgive my rudeness,” said the same deep voice, and the claw retracted back through the doorway. “I didn’t mean to startle you, little manling. Do come inside. I’ll put the kettle on.”

“I—I’d rather not, if it’s all the same to you,” said Mr. Quimbly, preparing to run.

“It isn’t, actually.”

The claw shot back out, hooked around Mr. Quimbly’s waist, and yanked him inside.

Mr. Quimbly landed on the floor of the dimly-lit warehouse with a thud and a groan. As he shakily retrieved his fallen spectacles and pushed himself to his knees, he noticed a glint of gold near his left hand. Picking it up, he realized it was a Spanish doubloon. How curious, he thought.

Then he looked up, and found himself staring at the scaly snout of a massive green dragon. The resplendent beast towered over Mr. Quimbly’s head, its horns brushing the ceiling. Its jagged viridian scales contrasted magnificently with the small mountain of gleaming gold coins on which it was nestled.

“Good heavens,” said Mr. Quimbly, dropping the doubloon. “You’re a dragon.”

Thanks to everyone who gave me valuable advice and insights on self-publishing and formatting and content and whatnot! If you feel like sharing my exciting self-publishing news with your respective friends/family/bloggers, I would obviously be incredibly appreciative. I would even bribe you with a free copy of the ebook, but … well, it’s already free. Cheers!

Categories: My Works, Self Publishing, Writing | Tags: , , , , , , , , , , , | 23 Comments

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