=========== Well the INTERNATIONAL BUSINESS MACHINES CORPORATION was initially a single salesmen selling butcher scales door to door. I am so glad the colonies left UK behind.
I was talking to a mate who works for an insurance broker earlier, and he says that whilst you can certainly get legal costs insurance which would pay your defense costs against an allegation of libel, it is very difficult to insure yourself as an individual against libel damages because nearly every policy has a clause requiring you not to be negligent and also excluding deliberate acts ... so if you are found guilty of defamation, it would be very difficult to prove to the insurer that you were not negligent in committing the act He also said that even if it were possible to insure against that sort of damages (it is done for big corporates like newspapers and TV stations etc) the cost of doing it would be prohibitive for a single author.
I'm a little concerned about this. You do have to pay income tax on book sales, whether you form your own publishing company or not. (See this article by attorney Helen Sedwick.) That said, having your self-publishing business under a separate name is good for keeping expenses separate. And for encouraging one to treat one's writing as a business.
What gave you that idea? Amazon probably hasn't asked you to pay your mortgage or pick up your dry cleaning, either. It's not their job to force you to perform the normal activities of adulthood.
I might be tripping balls again, but don't you have to submit tax information to Amazon before you can upload anything? I've never done it myself, but I seem to remember that being part of the Amazon tutorial I watched. Amazon is a vendor... they're sure as shit not going to pay your taxes for you under their own metrics of profit.
https://en.wikipedia.org/wiki/IBM The company originated in 1911 as the Computing-Tabulating-Recording Company (CTR) and was renamed "International Business Machines" in 1924. In the 1880s, technologies emerged that would ultimately form the core of what would become International Business Machines (IBM). Julius E. Pitrat patented the computing scale in 1885;[6] Alexander Dey invented the dial recorder (1888);[7] Herman Hollerith patented the Electric Tabulating Machine;[8] and Willard Bundy invented a time clock to record a worker's arrival and departure time on a paper tape in 1889.[9] On June 16, 1911, their four companies were amalgamated in New York State by Charles Ranlett Flint forming a fifth company, the Computing-Tabulating-Recording Company (CTR) based in Endicott, New York.[1][10] The five companies had 1,300 employees...During Watson's first four years, revenues more than doubled to $9 million and the company's operations expanded to Europe, South America, Asia and Australia.[14] "Watson had never liked the clumsy hyphenated title of the CTR" and in 1924 chose to replace it with the more expansive title "International Business Machines". So, by the time it became IBM, it was International in scope. I'm so glad the USA teaches people not to confuse "now" with "then", and a single salesman with 1,300 employees.
Quite Ryan is claiming 22k sales in the last three years so at circa $5 per unit hes made $36,666 per year gross ... assuming a 40% profit his take home was a tad over 14,666 - take off allowable expenses and he owes the IRS about 1.5k per year (assuming his many other business have swallowed up his allowances and what have you) Or the 22k sales could be bullshit
I have to submit a W8-BEN to all my US publishers/sellers to keep them from withholding taxes, but that may be because I'm not an American. Like, possibly they do withholding taxes for foreigners but not locals? In Ryan's particular case, though, based on his current sales ranks and lack of any other obvious sales channels, I'm going to guess that the "22K sales" were more like "22 sales, 'Kay?"
You guys are savage. I suppose you're gonna tell me I didn't sell 3bn copies of my memoir, THE DEAD GOLDFISH SAGA?
These are the types of examples I specified, if someone trips over a box of books at a book signing etc. I'm happy my policy fits my need.
Totally this. When I was performing professionally as an independent contractor, I was expected to declare all income on a Schedule C, whether is was cash or check. Sometimes I would perform at a corporate event and they would send me a 1099, but when you're dancing at Uncle Louie's 50th birthday party or doing a mini-lesson for a baby shower in someone's living room you're sure not getting a tax form for that. It was my responsibility to keep track of all my income and report it to the IRS, which I did. Unless you have somehow been granted a tax-exempt status (like some non-profits are), I can't imagine the U.S. government giving you a pass on paying income taxes if the income came from self employment. That's just not how it works, at least legally speaking. Does Amazon send out 1099's for people who list their self-published books there?
My publisher doesn't withhold taxes, but they provide me with a 1099 at the end of the year to declare that income to the IRS.
Yep - PL covers you for accidents / incidents caused by you or your equipment/property, PI covers you for your advice... EL covers your employees or volunteers , legal costs (often given free with any of the above) covers the costs of litigation... none of them cover damages awarded after a court finds you libeled some one (but no one really expects to insure for that anyway)
=========== If you are not signing in your living room then the book store policy would cover such events.
Wrong again - really Joe you should try not to give advice on things you know nothing about Venues generally insist on you having your own insurance so that the liability for incidents you cause does not pass to them. (the exception is where you hire the venue, in which case the hire fee usually covers insurance).
======= You should stop defaming with with your libelous comments. I do know what I am talking about. If you do a signing in a bookstore and someone trips over a box of your books the store is liable not you. Try talking to a real lawyer before you make up stuff you don't know anything about that is actually true.
If you are not signing in your living room then the book store policy would cover such events.[/QUOTE] I do book signings in all kinds of places not just book stores.
Your apparent belief that a post that essentially says "You're wrong" is libel is not enhancing your reputation as a legal expert.
You are sort of right in that if you are uninsured and you cause an accident in a venue, then the venue or their insurance will have to pay.... however to avoid that situation most venues insist that people 'performing' (for want of a better word) have their own liability insurance I know this for a fact having both managed venues and worked as a photographer or contractor in many many venues - every single one of which insisted that I have a minimum of £5M PL Could you tell us how many and which bookstores or other venues you have done book signings in that didnt require PL insurance ?
