On the Up to Speed in Digital Media podcast (Episode 43), I learned about a survey about the income authors make from publishing.
The survey was conducted by Dana Beth Weinberg. She surveyed 5,000 authors who responded to the 2013 Digital Book World and Writer’s Digest Author Survey.
Here’s the link to her research
Self-published authors in the sample earned a median income in the range of $1 to $4,999, while traditionally published authors had a median writing income of $5,000 to $9,999, and hybrid authors earned a median income of $15,000 to $19,999.
(Note: The survey gives median, meaning middle, income amounts, not average income)
Together, what these patterns suggest is that few authors are getting rich off of their writing or even earning enough from their writing to quit their day jobs
So where do you fit? How much income has publishing brought you?
I’m a hybrid author (both self published and traditionally published) and my income from publishing for 2012 and 2013 was slightly above the median for hybrids in both years $15,000 to $19,999.
Even if you don’t make a lot of money, you still may have expenses related to your writing business and need to know how to claim these expenses on your tax return.
My book Business Tips and Taxes for Writers can help.
You can also sign up for my email list on the homepage (bottom right corner) and be sent a list of tax deductions for writers.
Carol Topp, CPA