Q: If I self-publish a book and want to sell it, what do I need to do? If I need a license, then what kind?
Will I need to establish a small business.
If so, which is most economical, a sole proprietorship or partnership.
Who do I need to talk to?
A:
You do not need to establish a business to self publish a book, but there are several advantages to to doing so. For instance, you can deduct businesses expenses you may have incurred in making your book from your tax liability.
Sole proprietorships, partnerships, and LLCs each have distinct tax or organizational advantages.
With LLCs, you are not liable for any more than the amount you invested into the entity, whereas with a sole proprietorship you would be personally liable for business debts that exceed the value of the business itself.
Finally, there are no special licenses required to publish books or written material.
To pick the best business structure for your needs, you should speak with an experienced business attorney who has experience with business formations.
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