Writing, Publishing and Taxes!
Just a question … I’m assuming that when a writer signs a
contract with a publisher, he/she is treated as an independent contractor. When
publishers pay advances and royalties, do they withhold federal income taxes
and SS, or do they pay the writer the gross sum, send in a 1099 and let the
writer deal with his/her own taxes quarterly or annually? I know that some of
my regular clients (government) do take the requisite taxes out; others don’t.
Just curious about how this works in book publishing.