‘Sup, readers! I’m back again!
I know. I’m surprised, too. But I’m going to barrel through my surprise and try to get through this post as quickly as possible so you can get back to your weekends.
So, you know how I launched a Patreon page way back in late August? And you know how I had that giant orange button or a link at the bottom of some of my flash fiction posts for a little bit?
Right, well… I’ve decided that I’m not going to be doing that for the time being — because I…
…recently discovered that there’s more to blogging and commerce than just throwing up a Patreon page and expecting money to come in.
I mean, of course I knew there’d be work involved like posting regularly and the like.
But because I want to operate under my initials and last name instead of my full name, I’ve discovered that creates a bit of a complication for me in terms of asking for money from other people and then having to pay taxes on that money. In the state that I live in, “K. A. Parker” isn’t considered a fictitious business name because my actual last name is there. Therefore, no need to register a ficitious business name with my county clerk.
But what about the federal government? Do I have to make some kind of declaration to them? Do I have to get an employee identification number? Do I have to register as a sole proprietorship as a writer trying to make their income off of Patreon? Should I register as a limited liability company to mitigate the potential losses I might experience from this venture if it really takes off?
I know. I know. All of this sounds like mumbo jumbo. It sounds like mumbo jumbo to me, too.
But it’s the law. Business law and tax law, specifically. And little by little, I’m learning more and more about it. I’m taking an online class right now on how to start an operate a home-based business. I’m reading about taxes in regards to e-commerce retailers like Amazon and eBay so that I can make informed, conscious decisions before I decide to sell anything used of mine online and try to make some extra cash.
In short, I’m trying to put my best foot forward so that I don’t get in trouble later down the line, so bear me with me while I try to figure things out, please. I’m getting things squared away.
Anyway, that’s it from me! Like I said, I’m taking down the Patreon page for now, but I’ll still be posting flash fiction in the meantime, as usual. See you next Friday!