Course curriculum
Each video comes with detailed notes and links to relevant IRS sources.
(new content is constantly being considered for addition but to prevent overwhelm, I'm trying to keep this course curriculum a little more high-level)
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I help number-nervous authors go from money mess to financial success
In this transformative introductory course, you'll learn:
- The importance of record-keeping and what documents to retain for your author business.
- The ins and outs of obtaining an Employer Identification Number (EIN) and its significance for your business (it's FREE - if someone charges you to get one, run!)
- A high-level breakdown of essential tax concepts, including income taxes, estimated taxes, self-employment taxes, sales and use taxes, and VAT.
- The critical decision between cash and accrual accounting methods and how it impacts your financial reporting (most authors are CASH basis)
- Insights into establishing your author identity, from choosing a pen name to conducting trademark searches.
- Understanding the different business entity types (from a high level, there's a whole other class that deep dives into each)
- How to interpret and utilize key financial statements like the balance sheet and income statement to monitor your business's financial health.
- An overview of essential accounting tools and software to streamline your income and expense tracking.
*Reminder note - this particular course is NOT a deep dive into the various entity types (pros, cons, tax implications, liability protection, due dates, how to set one up, etc), if that's what you're looking for, go to our other course about choosing the right entity structure*
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Launch Your Author Career: Essential Steps to Starting Your Business
Do the complexities of launching your writing career leave you feeling overwhelmed and unsure of the next step?
No more aimless wandering or relying on hearsay from Facebook groups. It's time for clear, step-by-step guidance tailored specifically for aspiring authors like you.
Start Your Author Business Right!
Unlock the roadmap to entrepreneurial success in the literary world. From demystifying tax structures to simplifying bookkeeping essentials, we've got you covered every step of the way.
Discover the key distinctions between hobby and self-employment income, and gain clarity on whether you need an Employer Identification Number (EIN). Delve into fundamental tax concepts like income and estimated taxes, empowering you to make informed decisions with confidence.
Navigate the maze of crucial choices, from choosing a pen name to understanding liability protection and selecting the right business entity type (while we provide a foundational understanding in this course, a deeper dive into entity types, the formation, tax treatment, and common missteps is in a separate master class all on its own).
Gain essential insights into financial statements like balance sheets and income statements. Understand the implications of self-employment taxes for you and your family's financial landscape, along with basic knowledge of sales tax obligations as a business owner.
With expert information and practical wisdom, you'll establish a rock-solid foundation for your author journey.
Bid farewell to confusion and overwhelm and embark on the path to a thriving and sustainable author business.