So you want to publish your book? Great! But what exactly does that mean? Is there anything to watch out for before you start? As an author, I can answer that with a hearty yes! There could be any number of initial production costs associated with the printing of your book. Take a look at a brief section of my book, Business Tips and Taxes for Writers, to find just what these initial costs might be:
“Like start-up costs, book production costs start long before the book is printed. They include pre-production costs such as cover design, copy editors, proof readers, obtaining an ISBN, Library of Congress number, and bar code. Additionally, there is the actual cost of printing which can vary depending on size and paper choices . . .
Planning your initial production costs helps in budgeting these expenses. You may determine you cannot pursue your initial production run until you have the money saved up. Calculating the cost of the initial run will also help in determining a book price and knowing your break-even point, which helps you set sales goals.”
Look into potential production costs ahead of time, authors. It will save you time and money in the future. For more detail and a specific example of these costs, look to Chapter 7 of my book.
Carol Topp, CPA