We moved your createspace books and account details to kdp. Selfemployed individuals tax center internal revenue. If you pay too little, but not excessively so, you pay it at the end of the tax year. Amazon kdp, createspace and all other selfpublishing services and platforms. This is an errorfree, detailed record showing selfemployment cash returns, both expenses, and incomes. What selfpublished authors need to know about taxes. Specifically, i will give you some information about createspace and taxation information. Because of format your print book, i developed the knowhow and confidence to self publish with createspace without the paid services of a formatting expert. Overall, the selfpublishing process on createspace and kdp is the same. How to get your selfpublished book edited and formatted. You need to take into account the selfemployment tax about 15%, federal income taxes, state income taxes if you reside in a state with its own income taxes, and possibly others. While createspace is best known as amazons efficient printondemand service, the platform also provided paid publishing services to participating authors. When your books moved to kdp, your reports, payment, and tax information also moved.
Do i have to pay taxes on what i earned from selling my kdp books. Book royalties are taxable income and should be included on your tax returns. Build your book is a stepbystep video guide for formatting a paperback manuscript in. Of course, we all have to pay taxes, but i dont think we should let companies take more taxes than needed.
In this article, i will explain the process and reasoning for using createspace to print your self published book. If you earn money selling your words to websites and other publishers, the internal revenue service will likely say youre a small business owner. Createspace and taxation information lorraine reguly. But selfpublishing your book will also demand a huge amount of time, effort and. Avoid the 30% tax withholding for nonus self publishers. Foreign tax withholdings from createspace, smashwords, and other book markets. Therefore when you are formatting your book for epublication, you are not. How to format your book for createspace 6x9 in less than 2. Not so long ago, amazons createspace was a haven for selfpublishing authors everywhere. Book royalty tax reporting for selfpublishers isbn us. A tax cheat sheet for kindle ebook selfpublishing turbotax intuit. Selfpublish ebooks and paperbacks for free and reach millions of readers on.
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