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Discussion Starter · #1 ·
When I first started writing three years ago, I never thought it would come to this.

Now I'm paying lawyers and accountants to do things I have no clue how to do myself.  Most of it to keep a larger percentage of my profits out of the government's greedy hands.

One thing I am wondering though, is there any way to convert my tax information on Pubit, so that I don't have to unpublish my (100+) books from my current account, and then republish them under a new one?  I've sent this question to Pubit support, but I'm not holding out much hope for hearing back from them in the near future.

Thanks.
 

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No. I asked them recently. I have the same issue. U lose all the reviews and have to start over. :(
 

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Discussion Starter · #3 ·
holly w. said:
No. I asked them recently. I have the same issue. U lose all the reviews and have to start over. :(
Dang. I thought that was the case. Their review system sucks, so that doesn't bother me. But losing the 'also boughts' (or whatever they call it over there) does, and then there's the matter of spending all that time.

*sigh*

Thanks, Holly.
 

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Depending on how you choose to be taxed as an LLC, you may not have to change anything. If you are a single member LLC  and not choosing to be taxed as an S or C corporation then the IRS states they want you to use your SS#.

If you are going S or C then you will need to republish at B&N and they are the only ones.
 

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Discussion Starter · #5 ·
Deanna Chase said:
Depending on how you choose to be taxed as an LLC, you may not have to change anything. If you are a single member LLC and not choosing to be taxed as an S or C corporation then the IRS states they want you to use your SS#.

If you are going S or C then you will need to republish at B&N and they are the only ones.
Yeah, I'm pretty sure I'm going S. (My mind kinda glazes over when the CPA starts talking.)

Thanks.
 
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Perhaps you can do a resolution that transfers rights and royalties from you to the LLC.
Then when royalties come to you, give them to the LLC.
New books would be in the LLC name.

This is not legal advice, but a "perhaps" comment.
 

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Discussion Starter · #7 ·
I'll run that by the lawyers and CPAs and see what they say.    Thanks, Okey.



By the way, the conversation with the lawyer was funny.  During his 'Business 101' lecture, he told me to keep in mind that anything I say to him is priviledged, but anything I say to the CPA isn't.  He said I could tell him where I buried the bodies, but not to mention to the CPA where I was fudging financial matters, because if they're ever asked during an audit, they're legally bound to tell the truth.

 

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B&N sucks about this issue. I asked them this last year and they sent a message saying they had "no capability" of transferring reviews to a new account. I was wondering, then, how self-published authors who sign traditional contracts still seemed to hang on to their reviews. I'm sure, for example, that Amanda Hocking's Trylle trilogy isn't still published through PubIt, but all her old reviews are still on the books.

What that told me was that they DO have the capability. They just don't have the desire to offer that service to those of us who are not the biggest of the big. Boo to them.

My accountant told me to leave it and he would make it work. I am planning to start my new series on a second account, though. I'm just hoping B&N will still link the books with my author name even though it's a different account.

Someone had actually told me once that one possible way around it is to distribute to B&N through Smashwords. When the book shows up, ask them if they will merge the Smashwords version with the pubit version. They will transfer the reviews to the new version. Then you can unpublish from PubIt and publish from your new business account. Ask them again to merge the new PubIt version with the smashwords reviews. Once that goes through, unpublish/distribute from Smashwords. I haven't tried it yet, but I did get my reviews merged when I went free through Smashwords. Hope that made sense, lol. 
 

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Sarra, I thought Hocking published via SW. I'd read her blog back then.

When I tried to enter the EIN number for the LLC, they wouldn't take it. That's what happened over there. Let me know if you get the LLC account set up without a hitch.
 

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holly w. said:
Sarra, I thought Hocking published via SW. I'd read her blog back then.

When I tried to enter the EIN number for the LLC, they wouldn't take it. That's what happened over there. Let me know if you get the LLC account set up without a hitch.
Ah, maybe that's true, but I guess my point is that if they can even move/merge reviews with a SW copy, then they are showing that they do have the capability of merging reviews. They just won't. It doesn't make sense to me.

Where were you unable to enter your EIN? On SW you mean? Or PubIt? SW let me change from SSN to EIN no problem last year. PubIt won't allow changes at all, so you have to make a totally new account.
 
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