Not All Agents and Editors are Honest

Business Musings: Writers, Scam Artists, Agents, and More by Kristine Kathryn Rusch

I’ve been following Kristine for many years. She often has a lot to say about the writing business, writers, agents, publishers and everything else regarding the publishing world. This post is no different. We may enter a relationship with an agent, editor or publishing company thinking this is the best thing ever only to learn months or years down the line that it was the worst thing ever.

Here’s what Kristine writes…

Just when I thought it was safe to get back into the water…

FREE eBook Read

I’m editing a lot these days. I only edit short fiction projects. Anthologies, anthology series (Fiction River), the occasional nonfiction book, and some magazines. I’m also consulting with the fine folks at WMG Publishing, because they’ll be handling the contracts for the revival of Pulphouse next year. Dean’s vision for Pulphouse includes reprinting some of the older stories, which means we have to deal with estates.

Too often, estates mean agents.

But even some lazy-ass living writers give their agents control of everything. It took me one year—one year—to get my hands on a non-fiction reprint that I wanted for a project of mine. The centerpiece for that project was an editorial written more than 20 years ago by a writer who had forgotten they had even written it. This writer, a friend of mine, doesn’t do email, and mostly stays off-line. (I know, I know.) I didn’t know about their tech phobia when I started into this, and had sent five different emails before I asked another editor friend how to reach this writer.

The editor advised snail mail.

Continue reading

Advertisements

US Dollar Kicks Teeth

MoneyIf you live in Canada, you know what that means. The US dollar is kicking us in the teeth. I ordered a proof for Mystery Light in Cranberry Cove from CreateSpace—located in the United States—so I checked the exchange rate and almost choked on my tea.

For me to buy one US dollar, I have to pay $1.41 Canadian. Thankfully, I don’t have to order books in bulk at this time because I’m not attending markets. I have a few copies of each if I sell one online or in person.

Continue reading

Reducing Mailing Costs

QCP Emblem 02When you’re a published author operating your own writing business or a small publishing company, you’re always looking for ways to save money and cut costs.

One of the expenses I have with Quarter Castle Publishing is postage rates. I mail books across Canada, the United States and sometimes to the United Kingdom. If I can save a dollar here and a dollar there, it adds up over the year.

Not only do I save, I can pass these savings onto my readers when they buy books.

One way to save money immediately, whether you’re a company or an individual mailing a parcel, is to go to the post office; the real post office, not one of those outlets inside a grocery store or drug store. Real post offices charge the actual price for mailing a parcel. The outlets charge the actual price plus a wee bit more to cover their costs.

Continue reading

Revised: Five Types of Book Publishers

While attending a recent event, I realised there is some misconception about the types of publishing available for writers. I reread my post on The Four Types of Book Publishing and decided it was time to revise the information. In this ever-changing world of publishing, things like this will happen.

Although there may only be a thin line separating some of these types, and at times, one might overlap with another, the core of each type has its own tone and/or structure.

I also feel it’s time for self-published authors (indies, independent publishers) to define themselves in the true spirit of being independent. Being independent and self-creating means not paying someone else to take control of your project. It means doing it yourself.

Perhaps the distinction will dispel the myth of what self-publishing truly is, and perhaps it will save unsuspecting authors from falling into the pitfalls of many who have paid thousands of dollars to ‘self-publish’ and who have had horrible experiences, and some who spent the money and didn’t even receive their published books.

Continue reading

Keeping Score with your Credit

5x5 Credit ScoreWe finished our three-day business program today, the one that was postponed from last Saturday due to the weather. The big “wow, I didn’t know that!” moment came when we were talking about credit scores.

I don’t pay much attention to my credit score; it is what it is when you are working here and there, not holding a steady job since 1997 because of giving birth and taking care of kids. But today, I learned about something that may affect my score negatively without me realising: forgotten, unused credit cards.

Apparently I wasn’t the only one in the group who had a credit card, but never used it and thought nothing about it. My story is a simple one, one many others may have.

Once upon a time, I had a credit card. A few years later, I was offered another card from a different company. They were giving away a special gift just for signing up, so I did. Who doesn’t love a gift?

A few years afterwards, I got another card from a different company for the same reason: a gift. Like all creatures of habit, I used the credit card I always did to make purchases and only occasionally used the other two. My credit rating with these companies rose, and in turn, they raised my spending limits.

Continue reading

How to Self-publish at Rock-bottom Prices

MoneyIn my last post I answered the question “How much does it cost to self-publish a book?” My answer ranged from $0 to thousands of dollars.

The question that usually follows this answer is: How can I self-publish my book at rock bottom prices?

The answer is: long hours of work

This is quickly followed by: “Who gets to do all that work?”

The answer is: the author

Honestly, if you don’t want to pay someone to format your book, then learn how to do it yourself. It’s not rocket science. If you don’t want to pay your editor double the fee, learn how to edit your work, so when they get the manuscript they don’t spend hours correcting punctuation, capitalisation and basic grammar. If you don’t want to pay someone to upload your eBooks to distributors, then learn the ropes.

Continue reading

Canadians, Stop Paying 30% to the IRS

MONEY drainLINKS UPDATED: November 7, 2014

GREAT NEWS: The rules have changed. You no longer need an EIN or an ITIN unless you have extenuating circumstances. Read the update here: Update on Canada Tax Information with the United States. I will leave this original post up for those who still need to apply for an EIN.

* * * ORIGINAL POST * * *

Several months ago I discovered that Smashwords began withholding 30% of my earnings to give to America’s Uncle Sam. If I didn’t act, I’d continue to lose this money for the life of my writing career.

To claim this 30% in the future, I’d have to jump through hoops at 1,000 feet in the air and ride a wild boar through the desert…okay, nothing that drastic, but everything I read and everyone I talked to led me to believe that getting all the paperwork in order would be a time-consuming nightmare.

They couldn’t have been more wrong.

But before I realised the ease of reclaiming that money, I had reluctantly accepted the fact I would lose $300 for every $1,000 I’d earn in royalties. It was hard to swallow. Just think about this for a minute:

You post a book to Smashwords for $2.99. It sells through them to Kindle who takes 30% for selling it plus $0.09 for delivering it to the customer. You’re now left with $2.00. Smashwords takes about $0.14 of this for a service charge (their hand in selling it). You’re now left with $1.86. From this, Uncle Sam withholds 30%, leaving you with $1.30. Withhold means claiming that money as income tax.

Let me paint a bigger picture for you. For every 1,000 books you sell at $2.99, your profit drops from a potential $2999.00 to $1300.00 after all those hands grab what they want. If you didn’t have to pay Uncle Sam, you would have earned $1,860.00. It takes about 30 minutes to get an EIN and complete the proper form to reclaim that money. And you only have to do this once. In my books, $560 for a half hour’s work is an outstanding pay cheque.

The imagined nightmare has discouraged many writers from dealing with the IRS, but it doesn’t have to be like this. You can start claiming that 30% by following the simple steps below. It will take approximately 25 minutes of your time, one long-distant phone call, one completed form and a US stamp. Oh, and one envelope.

Continue reading