Posts by steelowl26

Betty Sanchez10, thanks a million for such a deep dive and for being willing to help me out with more info if I need it... Honestly, it’s just depressing how much disappears by the time everything's tallied up... leaving the author with maybe 36% at most...

Betty Sanchez10 said:I’ve been hunting for an answer to this myself, but I haven't come up with anything useful. It feels like we're stuck until there's actually a double taxation treaty in place; at this point, our only real options would be to relocate entirely or set up a business entity in a state that actually has one of those agreements. Honestly, I've just accepted that they're going to take their 30% cut of my American earnings. I suppose I should be grateful that there isn't withholding for the other countries with their own local Amazons, though I think India might be an exception.
If anyone happens to stumble upon a workaround, please post it here. It would be a massive relief if there were some way to handle this.

Reading your post seriously made my day. On the other subforum, nobody has said a single word regarding self-publishing on Kindle (it's been over a month now)... nothing.

I would be so incredibly grateful if you could help me out with a few things. I haven't opened my Kindle publishing account yet (just a reading account), so right now I'm just deep in the rabbit hole, reading everything, studying everything... trying to make sure I don't screw anything up.

I went to the IRS office and totally met my own expectations within two seconds—so next time I'm planning to show up way better prepared so they don't toss me into some "tax nightmare" category.

I'm curious—like, I want to know everything... but I really don't want to be a total nuisance to 🙂

So, basically... taxes.
1. How do we even classify ourselves? (Under the laws from 2019, certain digital sales have lower tax rates, but I bet the IRS doesn't view Kindle books the same way. Are we looking at being independent contractors or something else entirely?)

2. How do you actually pay? (Which forms, how many times a year, what's the actual percentage...) I'm sure I'm missing something obvious, so please shout if there's something important I didn't ask.

3. Can the Kindle payouts go straight to a standard bank account?

If you're feeling generous, I'd love to hear your whole story regarding all the technicalities, not just my direct questions.
Anyway, thanks a million to you and/or whoever else is brave enough to answer.

cosmicraven59 said:Does anyone have any tips on how to sidestep that 30% haircut all American authors take when Amazon or other publishers send out royalty payments?

Hey everyone. I’m stuck on the exact same thing. I actually posted this same question over on the publishing subforum, but... crickets. Total silence. In the meantime, I’ve basically scoured every corner of the internet looking for answers, and honestly? Nothing. Zero. Zilch.

That link you shared... man, I have stared at it a thousand times.
I did find a similar thread here http://www.internetzarada.org/showth...d=11344&page=1

but they mostly just talk about KDP and seem to be discussing some other side of the Amazon ecosystem.

Seriously, if any of you guys stumble onto anything useful, please, please drop it here on the forum... and let's do the same for each other. Who knows, maybe someone will finally weigh in with an actual answer...