*Please note this is a required post for my instructor that we have to do through a blog. It is not my normal type of post. Skip it if you're not Brother Scott, unless you like reading random things...
This week we learned about legal structures with business. As an author, I don't technically have to set one up. However, I have been advised by many highly successful authors that as my publications increase as well as my IPs, I will want to set up an LLC. In Arkansas it only costs $45 to initially set this up unless you're paying an attorney to do the paper work for you. If you're using an attorney, expect to practically empty your wallet. Some will charge up to $400 just to file the paperwork. I won't go that route.
If that were the only expense, I'd just get it over with and do it. However, there are also $150 annual franchise fees here, so I will wait until I am in actual need of one.
Another consideration is I need a physical address for my Registered Agent. While I can serve as the agent myself, I'm not sure if I'll be moving in a few years so will need to figure out if it is as simple as just a change of address form.
On a completely separate legal issue, I'm just doing an amazon affiliate program until I can get my own anthologies and books up there. As I was building the website this week, I remembered that I needed to put that disclaimer that I am making money off of qualified purchases on each page of the site where I have an affiliate link. I discovered that it is important to keep a list of tiny details that are required because in the stress of getting everything set up, it is easy to drop a ball that can get you in a LOT of trouble. At this point I have a list of lists I need to find a good way to keep organized and easily accessible. I'm thinking Notion or Airtable may be the way to go. If you have a recommendation, I am all eager ears.
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