Here's some prerequisite reading for you, today.Seven Signs That You're Not Ready to Publish
. (Thanks to `raspil
for posting this link in a journal
This is important reading. If you answer "doesn't apply to me" to all 7 questions, and feel you're ready, then it's time to put some money on that. Thousands of dollars. Let's start by spending some of that onIncorporating Your Self-Publishing Business.
Unfortunately, this will be pretty US-focused, since I'm not aware of international variations. In fact, laws vary even state-by-state. So, for the record, I live in North Carolina.
If you are going to self-publish, this step is highly recommended. First, establishing your operation as a limited-liability corporation (LLC) provides some
legal protection (say, if you get sued). It also makes your operation more professional. This is definitely a good thing. Readers may not care who the publisher is, but media outlets, reviewers, and such will - and you should want to make your best impression.
Of course, there are some drawbacks - namely cost. The filing fee in NC is $125, plus $200 per year to file the required annual report - not a grand sum by any means, but keep in mind NC is not the highest in the nation. In Texas, for instance, the filing fee is at least $300.Steps to Take to Form an LLC:
This is a good step-by-step general outline I found: www.selfpublishinghouse.com/se…
, walking through the basic steps establishing your publishing business.
As far as the legal end, I'll refer you to this site: www.citmedialaw.org/legal-guid…
Note: change "north-carolina" in the URL to your state of residence.S-Corporations
An LLC is not the only type of corporation. Another popular choice appears to be an S-corp. There are notable tax benefits to an S-corporation.
This post explains the different pretty well: www.sba.gov/community/blogs/co…Still Confused?
Local resources may be more advantageous here. Don't forget your region's small business association. You may be able to find some help from them.