Saving Money, Spending Money

Saving Money Spending Money

Now that the paperwork is in place for both a publishing company and an EIN with the IRS, the next step is to open a bank account. Keeping a separate business account will make everything easier for taxes and maintaining your business records.

For me, it was as easy as filling out an application with my current personal bank and meeting with one of their advisors.

Once the bank account was up and running, I moved on to making my first major purchase as a publisher — ISBN numbers.

When you publish your book, ISBN numbers are often included as part of the package — Amazon included. However, you want to be sure to read the fine print. In most cases, they and not you own the actual ISBN number. To keep more control over your books, you can purchase ISBN numbers directly from Bowker.

If you’re publishing an ebook and paperback at the same time (each has to have their own assigned number), or plan on publishing more than one book ever, then buying the 10-pack is the better deal. A pack of 10 numbers is little more than the price of buying 2 individually.

The numbers never expire, so once you have the numbers you can use them as you need them. Once you’ve designated a number to one of your books, you can log back into Bowkers and officially assign a title to the number.

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