What is the point of "selling" a book to a reader, if the middleman (an Amazon company, for instance) actively encourages the reader to return that book --after reading it-- for a full refund or free exchange for another book, at the expense of the author?
That's not a "sale", it's a merry go round.
Read all about it.
Egregious!
https://www.authorsguild.org/wp-content/uploads/2020/11/AG.Audibledemand-collective.11.19.FINAL_.pdf
How can an author make a living if book sales can be cancelled, and book
revenues can be clawed back up to 365 days after the assumed sale?
How can an author plan her finances, or project what her tax obligation will be? However, assuming that one has something to leave, or something to invest, or a rollover IRA, this is the time to do some urgent tax planning. One probably has until December 10th, 2020 to get ones financial ducks in a row.
Three links:
https://www.ml.com/articles/tax-tips-that-could-save-you-money.html?pageurl=peter.shunyia
https://www.thebalancecareers.com/hobbyist-vs-pro-tax-guidelines-for-book-authors-2799859
https://www.michaelbest.com/Newsroom/250409/Estate-and-Tax-Planning-After-the-2020-Electionnbspndash
While this writer cannot offer financial advice (not being qualified), the most interesting advice might be to transfer one's biggest losers into either a Roth or a GRAT.
All the best,
Rowena Cherry
SPACE SNARK™ http://www.spacesnark.com/
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