Help! Authors, like other artists, are good at being creative, but not always so good at math and accounting. How do you set up a business? Do you need to? What are these forms, what are these taxes? Do I have to track inventory? What expenses can I deduct? So many questions!
Carolyn Thomas, CPA and owner of Thomas & Associates, CPAs, LLC will explain the basics of bookkeeping for authors and self-publishers and how to form a company and maintain it in good standing. She will answer your general accounting and tax questions as time allows. Her presentation will help you decide whether you can do it all yourself or will need outside help. The IRS, your state, and your own town are watching you, and they all want a piece of your income, even if it’s not so big, so be sure to be on the up-and-up to avoid penalties or getting dinged in an audit. You do have to collect and pay sales tax if you hand-sell your book in-state.
Carolyn Thomas is a Certified Public Accountant who specializes in tax preparation, planning and small business consulting. Carolyn worked at a St. Louis CPA firm for sixteen years and became a manager there before starting her own practice: Thomas and Associates, CPAs, LLC, established in 1999 and located in O’Fallon, MO. Her firm specializes in accounting and tax work for various industries, including the medical field, manufacturing companies, and restaurants. She has had articles published in Missouri Restaurant Magazine and national publication Restaurant Hospitality. She is a member of the Missouri Society of CPAs and the tax division of the American Institute of Certified Public Accountants. Her volunteer work includes duties as vice-chairperson for the O’Fallon, MO, Planning and Zoning Commission as well as other civic and charitable organizations. Her hobbies include traveling, hiking and reading.