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Support for Indie Authors discussion

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message 1: by David (new)

David Unger (httpswwwdavidungerphdcom) | 12 comments I am on the verge of getting a LLC (Limited Liability Company) to protect me in case some reader decides to get litigious for any unforeseen reason. I am not sure if I need in the US to get an EIN (Employer Identification Number). Anyone been down this road and want to give me some guidance. I am way over my head with this stuff.


message 2: by Gail (new)

Gail Meath (goodreadscomgail_meath) | 251 comments Are you an author, David? You don't have an author profile here, at least. An LLC is usually for a company to protect their business from being sued. It protects your personal property (limited). EIN is a corporate tax number, instead of using a SS#. I believe many or even most self-published authors are 'self-employed' who fill out Schedule Cs at tax time, which does not require filing with your county or state unless you want to use a different name than your own, which would be a DBA name (Doing Business as...).


message 3: by Dwayne, Head of Lettuce (new)

Dwayne Fry | 4434 comments Mod
Deleted a comment due to a link. Please keep the rules of the group in mind when posting. Thanks.


message 4: by Genevieve (new)

Genevieve Montcombroux | 69 comments Of course it is not necessary, many authors are not "businesses", but it doesn't hurt to find out options.


message 5: by Genevieve (new)

Genevieve Montcombroux | 69 comments Gail, Just a note. Dave has published a number of mysteries already. I was writing a post that just disappeared - maybe my fingers! I was only saying that it still a good thing to see what options are available.


message 6: by Genevieve (new)

Genevieve Montcombroux | 69 comments Dwayne wrote: "Deleted a comment due to a link. Please keep the rules of the group in mind when posting. Thanks."

Sorry, it slipped my mind :)


message 7: by David (new)

David Unger (httpswwwdavidungerphdcom) | 12 comments Gail wrote: "Are you an author, David? You don't have an author profile here, at least. An LLC is usually for a company to protect their business from being sued. It protects your personal property (limited). E..."
Thank you Gale. I am an author. Not sure why my books don't show up. I haven't really done any promo here. My understanding is if my house, pension, etc. are in a trust they are protected - just had a lawyer tell me that. But might want the LLC and EIN for tax reasons and was told to ask my accountant if there would be sufficient tax gains to make the expense of the LLC worthwhile.
Hope that info is helpful to others as well.


message 8: by David (new)

David Unger (httpswwwdavidungerphdcom) | 12 comments Genevieve wrote: "Gail, Just a note. Dave has published a number of mysteries already. I was writing a post that just disappeared - maybe my fingers! I was only saying that it still a good thing to see what options ..."

Thank you Gail. Not sure why my books don't show up. Just one more thing to take care of it...


message 9: by Gail (new)

Gail Meath (goodreadscomgail_meath) | 251 comments David wrote: "Genevieve wrote: "Gail, Just a note. Dave has published a number of mysteries already. I was writing a post that just disappeared - maybe my fingers! I was only saying that it still a good thing to..."

Hi David, there are two different kinds of profiles here, readers and authors. An author's profile displays your books so everyone here can see them. It would be very beneficial to you, I think. As for the legalities, you can file taxes as an official business, DBA, LLC, etc. Or, you can use the self-employed status for taxes, which is filing a Schedule C along with your other tax forms. You will need to claim income from book sales, Amazon and other retailers will provide a 1099 form at the end of the year with the total sales/income, but you can also deduct expenses directly involved in your sales. I am speaking for the US only. Hope that helps:)


message 10: by David (new)

David Unger (httpswwwdavidungerphdcom) | 12 comments Gail wrote: "David wrote: "Genevieve wrote: "Gail, Just a note. Dave has published a number of mysteries already. I was writing a post that just disappeared - maybe my fingers! I was only saying that it still a..."

This is very helpful. Thank you. Just trying to set up author profile. Not as easy for me as I would like it to be as my author name, David Unger, PhD is not allowed here - just David Unger, and there are other authors with that name...


message 11: by Ian (new)

Ian Miller | 366 comments David, you don't mention whether you are an American. If not, your own tax number wherever you are will qualify for tax treaty rights so you don't need an EIN. If you are an American you may need legal assistance but you could try asking the IRS.


message 12: by Linda (new)

Linda Sanchez (lfinchic) | 1 comments Hi David:

Hey! Just a quick breakdown in case you're wondering about whether forming an LLC means you have to get a federal EIN (Employer Identification Number):

You’re required to get an EIN if:

Your LLC has more than one member

You plan to hire employees

You elect to have your LLC taxed as a corporation

You’re filing certain federal tax forms (like excise taxes or retirement plans)

Or you’re opening a business bank account (most banks require one)

If you’re a single-member LLC with no employees, the IRS technically lets you use your Social Security Number for taxes � but getting an EIN is still highly recommended because:

It protects your personal SSN

It’s more professional for banking and payments

It’s usually required for opening business accounts, PayPal Business, etc.

It’s totally free and easy to apply for online through the IRS


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