A Publisher's Conversation with Authors: Royalties and Taxes
It is Tuesday. Monday's madness is over, and Wednesday will take us over the hump, so Tuesday it is--for some serious discussion with authors. Tuesday talks mean to address authors in waiting and self-published authors who would like to go a more traditional route or who would at least like to take their steps with a publisher by their side.
Since today is Tax Day, it seems like an appropriate time to explain how royalties and taxes are intertwined. Some authors become quite confused. Well, it is confusing because of the multiple years involved in royalty statements, payments, 1099s, and tax filings. Here is a visual that might help.
Books
sold |
Royalties
paid |
MSI
sends 1099 to IRS and author |
Authors report royalties on
1040 (and to state) |
2023 |
2024 |
2025
(January) |
2025 (April) |
2024 |
2025 |
2026
(January) |
2026 (April) |
2025 |
2026 |
2027
(January) |
2027 (April) |
Note that 1099s are only sent when royalties exceed $600. For amounts less than that, authors are on their own to report the earnings (always wisest to be honest).
Bottom line: Moving from royalties earned, to royalties paid, to royalties reported will be a journey of three years.
The Tuesday talks reflect real discussions between the management of MSI Press LLC and our own authors or those would-be authors who come through our doors but don't make the cut--yet. If you have a topic that you would like addressed, leave the question in the comment section. Chances are, in our 22 years of publishing first-time and experiences authors, we have had a conversation with one of our authors that we can share with you.
See more Publisher Conversations with Authors HERE.
Learn more about publishing from an acquisitions editor -- how to get your book proposal accepted, why proposals are turned down/accepted, and how to find the right publisher for your book. On special sale for $5 while inventory lasts at MSI Press webstore. Also available as an e-book and an audiobook.
Check out recent issues.
![]() |
Follow MSI Press on Twitter, Face Book, Pinterest, Bluesky, and Instagram.
Interested in publishing with MSI Press LLC?
Check out information on how to submit a proposal.
Planning on self-publishing and don't know where to start? Our author au pair services will mentor you through the process.
Julia Aziz, signing her book, Lessons of Labor, at an event at Book People in Austin, Texas.
Comments
Post a Comment