Chapter One: Writing As a Hobby

• Hobby or Business?
• Hobby Income
• Hobby Expenses
• No Hobby Losses Allowed

Chapter Two: Writing as a Ministry

• Charitable Nonprofit Organizations
• IRS Qualified Charity
• Running a Business as a Ministry
• Can an Author Start a 501(c)(3) Charitable Organization?
• Advantages of Qualified Charity Status for Publishers
• Disadvantages of 501(c)(3) Status
• Process to Obtain Qualified Charity Status
• 501(c)(3) Status for Publishing Companies and the IRS

Chapter Three: Sole Proprietorships

• Characteristics of a Sole Proprietorship
• Tax ID Number
• Business Name
• Business Checking Account

Chapter Four: Partnerships

• Taxes for Partnerships
• Problems with Partnerships
• Careful Planning
• Consider Alternatives
• Publishing Contracts
• Co-Author Agreements

Chapter Five: Corporations

• S Corp structure
• Taxation of S Corps
• Caution on S Corps
• Payroll and Tax Preparation on S Corps
• C Corporations
• Advantages
• Disadvantages
• Taxes for Corps
• When to Consider C Corporation Status

Chapter Six: Limited Liability Companies

• Benefits of LLC Status
• Disadvantages of LLC Status
• When to Consider Limited Liability Status

Chapter Seven: Financial Planning for Your Business

• Business Plan: Financial Section
• Start-Up Expenses
• Tax Deduction For Start Up Expenses
• Initial Production Costs
• Break-Even Analysis
• Pricing Your Book
• Funding Start-Up and Initial Production Costs

Chapter Eight: Organizing Business Records

• Records of Income and Expenses
• Banking Records
• Credit Cards and Paypal Statements.
• Checkbook Tips
• Government Correspondence
• Record Keeping Process

Chapter Nine: A Simple Bookkeeping Method

• Set Up
• Recording
• Summary Spreadsheet

Chapter Ten: Record Keeping Software

• Personal Money Management Software
• Accounting Software
• Several Versions of Software
• Warning About Software
• Hiring Help with Bookkeeping
• Software for Publishers

Chapter Eleven: Inventory

• Problems with Inventory
• Alternatives to Shipping Yourself
• Alternatives to Inventory
• Electronic Books
• Importance of Inventory Control
• Tax Aspects of Inventory
• Cost of Goods Sold
• Counting Inventory

Chapter Twelve: Sales Tax

• How to Keep Sales tax Records
• Sales Tax Included in the Price or Not?
• Making Payments to Your State Government
• File the Form Even if No Tax is Owed
• Do Not Spend the Sales Tax Collected
• Exemptions from Sales Tax
• On-line Sales and Sales Tax

Chapter Thirteen: Income Tax

• Tax Form for Sole Proprietors: Schedule C
• Name and Number
• Method of Accounting
• Income
• Expenses
• Unique Deductions For Authors
• Be Aware of Self-employment Tax
• Are Royalties Taxable?
• Tax Planning

Chapter Fourteen: Working with an accountant

• What Can a CPA Do for You?
• How Much Do CPAs Charge?
• Questions to Ask an Accountant

Chapter Fifteen: Mistakes Authors & Publishers Make

Chapter Sixteen: Expert Advice from Authors

Chapter Seventeen: Resources