Saturday, November 26, 2011

Road to Self Publishing: Starting Your Company

by Brittany Geragotelis

Hey all!

Learning what it takes to publish a book has been a real trip so far. I always thought it was just going to involve me deciding to publish it myself and then, POOF!, it would be ready and out there. But there's SO much more that goes into it than that.

One of those things is the need to create your own business. When I was first setting up my account with CreateSpace, I saw that one of the first things they require you to do is set up a business of some sort. This is because if you're going to be collecting royalties, they need to send all earnings to the IRS and that means you need a tax ID number for your new venture.

Sooooo, one of the first things I had to do before uploading my book to CreateSpace, was start an LLC. Luckily, my boyfriend has been through this before (with his brother for the movies they make), so he was nice enough to get online and fill out the request for an LLC for me. We got ours out of Delaware, but you can get them from any state. After you fill out the forms, you get a temporary license until you're approved and they send you the official papers.

Less than a week later, I was the proud Owner of Book Slayer Productions, LLC!

Of course, along with that, I also needed a business bank account, so that all my future profits would have a place to go and would be connected to my new business. That was relatively easy, too. All I needed was the proof that I'd started the business and some seed money.

Once I'd created my LLC and opened up my checking account, I was ready to finish setting up my account....and closer to publishing my book!



LadyDawn said...

Love your website and your helful comments for publishing a book which is something I am thinking of doing.
Thank You for sharing this with us your fans on Wattpad.