(NOTE: I am not getting divorced. Not even close. Calm down, Mom.)
However, if I do ever get divorced (I’m not ever getting divorced) my wife and I now have to figure out how to split up my small press that I just brought into existence today and which we are co-owners of. I’d like to announce the existence of Prostetnic Publications, a small press that exists specifically to publish the work of a certain independent author who all of you are terribly familiar with.
Note, here, that I have always been my own publisher, and that in fact the vast majority of independent authors are their own publishers. Amazon.com and Smashwords and the like are technically distributors, which is an entirely different thing. Prostetnic exists mainly to solve the legal conundrum I found myself in over the last week or so, which is that I need a legal entity other than me working under my real name for my money to go to. As I now have a legal sole proprietorship company with a bank account and everything (I did that today too,) I can now open a business PayPal account, which means that when I start selling my books directly from my website (Oops! Did I admit that I was doing that? Yeah, that’s happening soon.) you will be paying Prostetnic and not me. Only Prostetnic is me, so… yeah.
Sooner or later, I’ll set up a website; for now, prostetnic.com and prostetnicpublications.com both resolve here.
And since Prostetnic is a sole proprietorship and not an LLC, its money is my money, so no corporate taxes. I think. Need to double-check on this with Dad. And maybe an actual law-talker.
In closing, have this video, which runs through my head every time I talk about lawyers.
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I can tell you about corporate taxes. You won’t have to go crawling to your dad. SPs require no corporate taxes because… wait for it… they aren’t a corporation. In many ways, there are no IRS benefits to an SP as there are with an S or LLC. Unlike a LLC or S you will still pay all taxes because you can’t leave the net profits in your corporate account since there isn’t one. It’s a good thing that you are never getting divorced. I don’t care how you plan to divide this up, she’ll get it. 🙂
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I’m aware of the differences, having spent a fair amount of time looking into this over the last couple of weeks, but I still apparently haven’t eradicated my sloppiness when talking about it. 🙂 You can probably tell I wasn’t a business major.
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Either was I. We’ve just run these damn businesses for so long we know this stuff pretty well. At the end of the day, there id just more paperwork when you file your personal taxes.
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In Which I Admit I Dunno What That Word Means…
Prostetnic
I can’t even find it in my dictionary.
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It’s not in the dictionary. You should read THE HITCHHIKER’S GUIDE TO THE GALAXY immediately.
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Here you go, PJ … http://en.wikipedia.org/wiki/Vogon … and yes, what Luther said x 42
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I hate to think about ever having to go through stuff like this. I’m going to pretend you’re just being humorous and entertaining. Thank you.
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Threadgold Press is my sole proprietor press and has been running six years now. I shall see how you get on and maybe I will bit the wretched PayPal bullet and do the same.
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Just so long as you don’t go publishing any poetry…
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And when I do, it will be your fault, because I hadn’t even considered the idea but now I think it’s brilliant. 🙂
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