Business Tip #16 for Writers: Sole Proprietorship
October 22nd, 2012 → 8:00 am @ Carol
Are you new to writing? Looking to publish your recent work? A writing business structure may seem like the least of your worries! However, by publishing a book, you are taking the steps to owning a business. Congratulations! Considering how to setup your writing business, then, is crucial. There are several avenues you could take, but this short excerpt from my book, Business Tips and Taxes for Writers, clarifies the model that best fits a writing business and why:
“The vast majority of authors are sole proprietorships with good reason. It is the simplest business structure – easy to start and easy to close. A sole proprietorship is a business with one owner. It is popular with writers for many reasons:
– Quick to start
– Minimal filings
– Easy to close
– Simplest tax structure
– No lawyer needed to start
– Simplified record keeping, and much more!”
Authors, if you are just starting out and looking for a simple business structure so that you can focus on your writing, a sole proprietor is for you! Chapter Three of Business Tips and Taxes for Writers goes into greater detail the benefits of this setup. Pick up a copy today! If you are looking for additional help or have questions, please feel free to contact me. I’d be happy to help!
Carol Topp, CPA
Tax Deductions and other IRS Matters for Authors | WD Ghostwriting Services
10 years ago
[…] “What’s the difference between a sole proprietorship and an LLC?“- This is not my first post that talks about an LLC, but the previous post was from a lawyer’s perspective. This post is from an accountant’s perspective. When you put the two perspectives together you get a more complete answer. I also like that she directs you to two additional resources that offer a more in-depth explanation. Here are a few other LLC related posts on her blog: “LLC: Yes or No?,” ”Should You Incorporate Your Business,” and “Business Tip #16 for Writers: Sole Proprietorship.” […]