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Bean Counting for Authors
Fear Accounting?
Though the professions of author and accountant couldn't be more different in their main functions, authors come closer to becoming mini-accountants than they realize. Why? Because once anyone becomes an official business owner, he/she crosses into the realm of accounting and taxation.
Oh, the horrors of it, right? But never fear!
Getting a handle on important basics is really not all that daunting. Allow this author and former CPA to help you get serious about your business by learning the major "must-knows" of Bean Counting for Authors and Creative Business Owners.
In this book, you'll gain insight on how to:
*Determine if your endeavor is a Business or Hobby
*Choose and implement an Entity Structure for your Business
*Set up and Keep Books properly
*Set up and manage Sales and Use Tax when and where required
*Understand the different Business Taxes
*Recognize, track, and budget for Common Expenses
*Recognize, track, and budget for Complex Expenses
*Become clear about Employees versus Independent Contractors, and handle each accordingly
*Plan and save for Retirement
Counting each and every "Bean" earned may not be the idea of fun and adventure for most, but having lots of beans in the bank is a pretty great way for writers to keep on doing what they do love most--CREATING BOOKS! And understanding some important must-knows of financial matters is a big step toward making that happen.
Though the professions of author and accountant couldn't be more different in their main functions, authors come closer to becoming mini-accountants than they realize. Why? Because once anyone becomes an official business owner, he/she crosses into the realm of accounting and taxation.
Oh, the horrors of it, right? But never fear!
Getting a handle on important basics is really not all that daunting. Allow this author and former CPA to help you get serious about your business by learning the major "must-knows" of Bean Counting for Authors and Creative Business Owners.
In this book, you'll gain insight on how to:
*Determine if your endeavor is a Business or Hobby
*Choose and implement an Entity Structure for your Business
*Set up and Keep Books properly
*Set up and manage Sales and Use Tax when and where required
*Understand the different Business Taxes
*Recognize, track, and budget for Common Expenses
*Recognize, track, and budget for Complex Expenses
*Become clear about Employees versus Independent Contractors, and handle each accordingly
*Plan and save for Retirement
Counting each and every "Bean" earned may not be the idea of fun and adventure for most, but having lots of beans in the bank is a pretty great way for writers to keep on doing what they do love most--CREATING BOOKS! And understanding some important must-knows of financial matters is a big step toward making that happen.
136 pages, Paperback
First published February 18, 2016
1 person is currently reading
8 people want to read
About the author
Christina Mercer
8 books186 followersChristina Mercer is an award-winning author of fiction for children and young adults. Honored titles include Tween Fantasy ARROW OF THE MIST & its sequel ARMS OF ANU, and YA Paranormal Romance HONEY QUEEN. In addition, she is a once-upon-a-time CPA who offers tips on accounting and taxes for authors in her BEAN COUNTING FOR AUTHORS guidebook. Christina resides in Northern California enjoying life with her husband, two sons, four dogs, and about 100,000 honeybees.
To learn more about her at her writing visit: www.christinamercer.com
To learn more about her at her writing visit: www.christinamercer.com
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Displaying 1 - 3 of 3 reviews
June 21, 2016
Becoming a self-published author is frightening. Not only are you opening your creativity to significant criticism, you also have to navigate the entire world of Authorship alone. That means finding editors, formatters, and design artists; learning how to use new software and navigate unfamiliar publishing websites; and learning the ins and outs of marketing and promotions. It also means keeping accurate records for tax purposes.
This was by far the most terrifying aspect of authorship for me. I have zero experience with anything business, nor can I wrap my head around such concepts easily. Words and grammar, spacial art and design, historical research–yes! Numbers, accounting, IRS, legaleese–NO!
In all honesty, I’ve been winging it for years. I keep track of expenses and income, but beyond that, I just do a lot of finger crossing. How does one actually set oneself up as a legal business? What tax filing is required? What other records should I be keeping? Christina Mercer, self-published author and former CPA, answers all those questions and many more that I didn’t know enough to ask in her book Bean Counting for Authors. It was something of a relief to find out that I’d actually been operating as a Sole Proprietorship for four years and my feeble attempts to be on the up-and-up are sufficient from a legal standpoint. But Bean Counting does more than that. It describes other business models available for authors along with the pros and cons of each. It also breaks down legal terms, defines applicable taxes and an author’s legal responsiblities, and is filled with tips for more efficient management.
I’m actually still working my way through some of the meatier sections that require a little extra chewing. Most of the difficult stuff doesn’t really apply to me at the moment, and might never, but I want to understand it anyway. Fortunately, Ms. Mercer lays out her content clearly, concisely, and with a gentle humor. She gets that we’re not all going to grasp this stuff quickly, so she leads us through it gently, with lots of illustrations as to how, say, COGS (Cost of Goods Sold), NEXUS, or Sales and Use Tax might be relevant to an author. It’s tough stuff, but it’s need-to-know stuff, and it’s helping me gain confidence in my…yes, my author BUSINESS.
This was by far the most terrifying aspect of authorship for me. I have zero experience with anything business, nor can I wrap my head around such concepts easily. Words and grammar, spacial art and design, historical research–yes! Numbers, accounting, IRS, legaleese–NO!
In all honesty, I’ve been winging it for years. I keep track of expenses and income, but beyond that, I just do a lot of finger crossing. How does one actually set oneself up as a legal business? What tax filing is required? What other records should I be keeping? Christina Mercer, self-published author and former CPA, answers all those questions and many more that I didn’t know enough to ask in her book Bean Counting for Authors. It was something of a relief to find out that I’d actually been operating as a Sole Proprietorship for four years and my feeble attempts to be on the up-and-up are sufficient from a legal standpoint. But Bean Counting does more than that. It describes other business models available for authors along with the pros and cons of each. It also breaks down legal terms, defines applicable taxes and an author’s legal responsiblities, and is filled with tips for more efficient management.
I’m actually still working my way through some of the meatier sections that require a little extra chewing. Most of the difficult stuff doesn’t really apply to me at the moment, and might never, but I want to understand it anyway. Fortunately, Ms. Mercer lays out her content clearly, concisely, and with a gentle humor. She gets that we’re not all going to grasp this stuff quickly, so she leads us through it gently, with lots of illustrations as to how, say, COGS (Cost of Goods Sold), NEXUS, or Sales and Use Tax might be relevant to an author. It’s tough stuff, but it’s need-to-know stuff, and it’s helping me gain confidence in my…yes, my author BUSINESS.
September 5, 2016
Extremely helpful guide to those who have trouble with the business side of being a published author. This is one book that I'll come back to time and time again for answers to my bookkeeping questions.
February 10, 2020
Brief Overview, But Details Lacking
This short book offers a VERY basic primer on accounting from the perspective of authors, but lacks in-depth explanations and examples for many accounting concepts such as double-entry and calculating COGS. Not worth the $5.99 cover price.
This short book offers a VERY basic primer on accounting from the perspective of authors, but lacks in-depth explanations and examples for many accounting concepts such as double-entry and calculating COGS. Not worth the $5.99 cover price.
Displaying 1 - 3 of 3 reviews