Author Bookkeeping Made Easy
By Nick Vulich
()
About this ebook
Don't know the difference between a 1040, a 100 EZ, a W2, or a 1099 - not a problem. This book will walk you through the maze of taxes.
You will learn about -
1. The Home Office Deduction
2. Travel Expenses
3. 1099s
4. Business Expenses. What's deductible, what's not.
5. Quaterly Tax Payments
If you're an author, and not sure what receipts to save, or how to make your quaterly tax payments - This book is for you.
Read more from Nick Vulich
Freaking Idiots Guide To Selling On Ebay: How Anyone Can Make $100 or More Everyday Selling On Ebay Rating: 4 out of 5 stars4/5eBay Bookkeeping Made Easy Rating: 0 out of 5 stars0 ratingsMake Money Online Step-by-Step Directions How I Make $2500 a Month Selling on eBay, Fiverr, Amazon & More Rating: 3 out of 5 stars3/5eBay 2022: List, Profit, Sell Rating: 0 out of 5 stars0 ratingseBay 2021: 5 Moves You Need to Make Today to Sell More Stuff on eBay Rating: 4 out of 5 stars4/5Indie Author's Toolbox: How to Create, Publish, and Market Your Kindle Book Rating: 0 out of 5 stars0 ratingseBay 2020: Why You’re Not Selling Anything, and What You Can Do About It Rating: 0 out of 5 stars0 ratings7 Steps To A New Job: What Employers Are Really Looking For In Today's Troubled Economy Rating: 1 out of 5 stars1/5eBay Subject Matter Expert: 5 Weeks to Becoming an eBay Subject Matter Expert Rating: 0 out of 5 stars0 ratingseBay Unleashed 2ND Edition Rating: 3 out of 5 stars3/5Fiverr Boot Camp: Join the GIG Economy. Make More Money, Enjoy More Freedom. Rating: 0 out of 5 stars0 ratingsEtsy Bookkeeping Made Easy Rating: 0 out of 5 stars0 ratingsFit After Fifty: How to Lose Weight, Get Fit, and Stay Fit For Life Rating: 0 out of 5 stars0 ratingsLife Without the BS: Rants, Raves, and Other Crazy Stuff Rating: 5 out of 5 stars5/5Sell It Online 2: How to Make Money with Your Own Website, Blog, Kindle Book, or by Coaching &Training Rating: 0 out of 5 stars0 ratingsCellular Obsession: How Smartphones, and the Internet of Things Are Going to Change Your Life Rating: 0 out of 5 stars0 ratingsHistory Bytes Bundle Rating: 0 out of 5 stars0 ratingseBay Business All You Need to Know to Be Successful Selling on eBay Rating: 0 out of 5 stars0 ratingsKickstarter for Online Sellers: Get the Money You Need to Fund Your New Product Line Rating: 0 out of 5 stars0 ratingsSunday Night Murderer Rating: 0 out of 5 stars0 ratingsThe Big Book of eBay: How Start an eBay Business, and Make Money Selling Online Rating: 0 out of 5 stars0 ratingsKilling the Presidents: Presidential Assassinations and Assassination Attempts Rating: 0 out of 5 stars0 ratings
Related to Author Bookkeeping Made Easy
Related ebooks
Easy Accounting: Simple Steps, Simple Solutions Rating: 0 out of 5 stars0 ratingsEtsy Bookkeeping Made Easy Rating: 0 out of 5 stars0 ratingsBusiness Skills: Finance, Money Management, and Marketing Rating: 0 out of 5 stars0 ratingsBlogging for Dollars: Bloggers Tax Guide Rating: 0 out of 5 stars0 ratingsSimplified Bookkeeping for Authors Rating: 0 out of 5 stars0 ratingsBookkeepers' Boot Camp: Get a Grip on Accounting Basics Rating: 5 out of 5 stars5/5Business Skills: Money Management, Accounting, and Communication for Small Businesses Rating: 0 out of 5 stars0 ratingsAccounting: A Comprehensive Guide to Small Business Accounting, Budgeting, and Bookkeeping Rating: 0 out of 5 stars0 ratingsAccounting: Accounting made simple, basic accounting principles, and how to do your own bookkeeping Rating: 0 out of 5 stars0 ratingsBookkeeping: Step by Step Guide to Bookkeeping Principles & Basic Bookkeeping for Small Business Rating: 5 out of 5 stars5/5Full Charge Bookkeeping, For the Beginner, Intermediate & Advanced Bookkeeper Rating: 5 out of 5 stars5/5Memoirs of a Side Hustler: Five Principles to Run a Side Business Successfully Rating: 0 out of 5 stars0 ratingsBusiness Skills: The Ultimate Guide to Understanding Communication, Finances, and Leadership Rating: 0 out of 5 stars0 ratingsFinances for Freelancers: Structure Your Business & Manage Your Money: Launching a Successful Freelance Business, #2 Rating: 0 out of 5 stars0 ratingsRed to Black: Secrets of a Savvy Cfo to Run Your Business Successfully Rating: 0 out of 5 stars0 ratingsBusiness Skills: Practical Knowledge for Business Leaders and Entrepreneurs Rating: 0 out of 5 stars0 ratingsBookkeeping: An Essential Guide to Bookkeeping for Beginners along with Basic Accounting Principles Rating: 4 out of 5 stars4/5Easy Accounting for the Self-Employed Rating: 0 out of 5 stars0 ratingsYour Amazing Itty Bitty(R) Personal Bookkeeping Book Rating: 0 out of 5 stars0 ratingsCanadian Income Funds: Your Complete Guide to Income Trusts, Royalty Trusts and Real Estate Investment Trusts Rating: 0 out of 5 stars0 ratingsGetting Started with Accounting & Bookkeeping for US Amazon Sellers Rating: 0 out of 5 stars0 ratingsCanadian International Taxation: Income Tax Rules for Residents Rating: 0 out of 5 stars0 ratingsBookkeeping Made Easy: The Ultimate Guide to Managing Your Business Finances Rating: 0 out of 5 stars0 ratingsWhat You Need to Know Before Starting an Accounting Practice Rating: 0 out of 5 stars0 ratingsPainless Financial Literacy Rating: 0 out of 5 stars0 ratingsYour Amazing Itty Bitty® Book of QuickBooks® Best Practices Rating: 0 out of 5 stars0 ratingsYour Amazing Itty Bitty® Book of QuickBooks® Terminology Rating: 0 out of 5 stars0 ratingsQuickBooks 2024 All-in-One For Dummies Rating: 0 out of 5 stars0 ratingsBookkeeping Essentials: How to Succeed as a Bookkeeper Rating: 1 out of 5 stars1/5Mastering Quickbooks Online: Step-By-Step Journey To Financial Management And Accounting Success Rating: 0 out of 5 stars0 ratings
Reviews for Author Bookkeeping Made Easy
0 ratings0 reviews
Book preview
Author Bookkeeping Made Easy - Nick Vulich
Author Bookkeeping Made Easy
Copyright © 2014 by Nick Vulich
Cover illustration
Credit / Attribution - Print
© Can Stock Photo Inc. / DrawShop
http://www.canstockphoto.com>(c) Can Stock Photo
Want to know about Nick’s new book releases? Join our mailing list.
Interested in being notified when Nick releases his next book? Click here to join our mailing list. We promise not to send any spam, or unwanted emails. The only thing you will receive is news about Nick’s new book releases, and occasional specials we are offering.
Table of Contents
Cover illustration
Table of Contents
Why you need to Read This Book
Why Listen to Me?
Getting Started
Accounting Terms You Need to Know
Getting started with GoDaddy Bookkeeping
Keeping your records the old-fashioned way
Working with an accountant
The lowdown on taxes
Most common Tax Deductions
Business permits, licenses, and such
Choosing your business status
Wrapping it all up
Further Reading
Bonus Excerpt
Books by Nick Vulich
Audio Books by Nick Vulich
Why you need to Read This Book
Authors work with words. Accountants work with numbers. So what does bookkeeping have to do with writing, you may ask?
Good question.
The answer could mean thousands of extra dollars in your back pocket.
Too many authors get so excited about the money rolling in they never bother to add it all up to see if they’re making a profit. Not until it’s too late, anyway.
To run a successful writing business you need to make a profit. The more profit you make, the healthier your business is. Unfortunately, too many authors never stop to look at the big picture. They assume that because the money keeps flowing in, they must be making a profit.
I felt the same way the first year my books were on Kindle. I earned nearly ten thousand dollars in royalties that year, and I naturally assumed I was making money. Every time I turned around there was another deposit in my bank account. I had to be making money. The thing is when I totaled it all up at the end of the year I really only made a couple thousand bucks.
How could that be?
Simple answer: I spent more money than the royalties I received. The long answer was I kept spending money I should have socked away. I bought a new laptop, another iPhone, a Kindle, and don’t forget Fiverr. I commissioned 179 Fiverr’s over the course of one year – covers, infographics, videos, you name it.
Smart author’s tie their spending to their cash flow. If they project $10,000 in royalties, they determine they can spend a certain amount for research and goodies. If they project $25,000 in royalties they allow themselves to spend a few bucks more tracking down that last scrap of necessary research, designing one more alternate cover, or acquiring the latest greatest electronic gadget.
Of course, research expenses, covers, and computer equipment, are only a few of the ingredients involved in planning cash flow. Authors need to look at all of their expenses when they make cash flow projections.
A simple author’s budget would likely have many of the expenses listed below:
1) Research expenses
2) Books
3) Travel
4) Review copies
5) Art work (for covers, promotions, flyers, etc.)
6) Gas and mileage for your car
7) Advertisements to promote your books
8) Google AdWords / Facebook Ads
9) Equipment (computers, printers, etc.)
While not an all-inclusive list, this will give you an idea of the expenses you need to track. You also need to track your sources of income.
These are some of the income sources you’re likely to encounter:
1) Kindle royalties
2) Create Space royalties
3) Smashwords royalties
4) Barnes & Noble royalties
5) Google Play &