I know absolutely nothing about taxes, at all, so please bear with me…
Assuming I make decent sales and start getting royalties from self-published e-books on Kindle, how exactly are taxes going to work? Does it work like a regular employer, where a cut is automatically taken out for taxes and social security? Or is this something I have to calculate and set aside myself? If it's the latter, how would I go about paying that to the IRS, and on what schedule? What sort of records do I need to keep? What about tax returns?
Phew… I think that covers it right now.
Read more: If I self-publish with Kindle, how will taxes work?