There comes a time in every authors life when we have to deal with that party pooper, tax. My main issue here is that now that i have a publisher i have to provide them with an ITIN (US tax) number or they withhold like 40% of my earnings in tax. The problem is that to get it i have to provide a certified copy of my passport. To get a certified copy i have to go to a passport office but the closest one is in Sydney which is 3hrs away and I’m about to go overseas so i kind of need my passport with me.
So, plan B. Get an ABN. Thanks to the lovely Angela Castle who wrote a whole post on how to do this on her blog. The ABN is easy as it’s an online form and you get your number straight away. I can now claim marketing things and conferences back on tax, horrah! Now i need to ring this little number 0011 126 79411099 and answer a few questions to get my EIN which is the business equivalent of the ITIN but much easier to get as you don’t need ID. Why not? Because you provide your TFN to get your ABN so this is how you are identified. Sounds stupidly simple doesn’t it? Compared to getting an ITIN which can take up to 3months and a lot of paperwork an EIN is much simpler but it does mean that i now have to lodge a tax return every year as an ABN holder so i need to keep all my receipts and keep an eye on my earnings.
Did you get all that lol
ITIN = US tax number
EIN = Business US tax number
TFN = tax file number
ABN = Australian business number