(Warning: only interesting to writers planning to self-publish on Amazon.com, CreateSpace, etc. And maybe not even to them.)
A quick follow-up post to yesterday’s tax-related reblog – I can confirm the process of applying for an EIN over the phone went exactly as David laid out in his post on Catherine’s blog.
I called the number this morning, and had a very pleasant 7-minute chat with a nice IRS lady. (I couldn’t tell if she was from Philadelphia or just lives/works there, because I am the crappest at American accents.)
After a few questions very similar to those I was expecting, I became the proud owner of an Employer Identification Number (EIN). I then promptly updated my KDP, CreateSpace and Smashwords accounts, because it pays to be prepared, and I’d rather not risk giving the IRS any of my money even temporarily if I can avoid it.
Now I just need to publish and sell some books, and watch all* of the money
roll trickle in!
* Instead of 70% of the money because 30% was withheld for tax reasons. Get it? Yup, I told you it wouldn’t be that interesting.