The Independent Writer’s Life
Posted by lbdarling
Today started out crappy–I started a small firestorm with the City of New London. Gee, ya make one post on the New London Patch with a link to the pictures of your crappy sidewalk on your blog and the next thing you know the blog post has over 200 hits from…everywhere. Mostly my little corner of CT but people swarmed in from NY, NJ, NV, PA,MA, RI, Canada! and other places. I hope somebody at City Hall has angina now. They deserve it.
Any-hoo….that’s not why we’re here.
You remember this post? The Cost of the Independent Writer’s Life wherein we discussed how NOT to dump $4,000.00 into your self-publishing project.
I’m here to tell you….I’m right!
That poor woman we discussed in that post spent $4,000.00 THIS YEAR alone and had made $12.00 back but she realized it could take a full year to get all of it back. Or, as I tried to tell her, she may NEVER make it back.
I’ve been doing this 4 years. I swear, all totaled for those 4 years, I’ve probably SPENT less than $500.00 on advertising and promo. Knowing me, The Original Cheap Yankee, it’s probably more like $300.00…LOL.
I just got my 1099’s from Amazon/Kindle and Barnes & Noble (Smashwords and All Romance ebooks are still outstanding). In return for the…I think I actually spent $100.00 on advertising this year between the $40.00 for two months in BTS eMag and the $60.00 I plunked down for The Romance Reviews this past summer….I netted nearly $1,000.00! WOOT! Go Me! Definitely my best year to date!
I can also see where my money is now. It’s with Amazon/Kindle as I knew it would be. Nook/B&N is a terrible seller. I only made $117.00 off of them. So I may be consolidating this year whether I like it or not. I might get off B&N/Nook altogether because I’m darn certain my Smashwords 1099 is going to be more than that. Maybe I’ll let them be the aggregate for B&N. I can’t give up the epub format because I’m selling well on iBooks, baby! In fact, I think I’m selling better on iBooks than I am on B&N.
To tell you the truth, I almost didn’t open the 1099 from B&N because it came in an envelope from my ex-boss’ office. (Note to Self: Change address with B&N!) I thought; WTF does she want? LOL Then when I opened and saw ‘Important Tax Documents Enclosed’ I thought; Oh hell no! I stopped working for you in 2011! hahaha
Now, I guess I should take everyone’s advice this year and stop mixing ‘business’ finances with ‘personal’ finances. All of my payments go directly to the checking account to the pay the bills. Oh bother. I don’t want to do that. Mostly because I don’t want to file quarterly taxes. I’ll have to set up an actual LLC…I can do that on my own, did hundreds of them through the old law office, it’s not hard at all. I’ll have to open up a ‘business’ bank account. BUT I will get to take deductions for advertising, which includes swag! Woot!
I don’t suppose anyone here works for H&R Block or is a tax accountant? I could use a little help here wading through this stuff. This year it doesn’t matter much because I didn’t start working for the Union until June and I think I get to ‘keep’ the first $500.00 tax free. But next year….with any luck at all….I might need an accountant.🙂
So see, being an Independent Writer doesn’t have to cost you an arm and a leg and YES you CAN make money at it!
Now about those other 19,000 dollars we were discussing…..
All Good Things to Those Who Wait
Ya know….he could be right! I think I’ll stick with him a little longer.😉
A thousand bucks! No, not a King’s Ransom BUT it’s only $500.00 less than I made on Unemployment for 9 months! LOL
Next year’s goal: $2,000.00.