Welcome, Guest! Why not create a free forum account today and join in with the world's friendliest bunch of Kindle enthusiasts

Amazon now paying non US authors by EFT! Bye bye cheques :)

Thread Rating:
  • 0 Votes - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
 
Offline Cathy Reading travels in Elysium by William Azuski
06 Feb 2013, 04:06 PM | Post: #21

Senior Member
****

Posts: 288
Joined: Mar 2012

Thanked 6 times

What I Read

RE: Amazon now paying non US authors by EFT! Bye bye cheques :)

Thanks for posting about this - so interesting and useful.

Cathy
Offline Mads Sorensen Reading A Quiet Life by Natasha Walter
06 Feb 2013, 04:32 PM | Post: #22

Author
*******

Posts: 1,372
Joined: Feb 2012

Thanked 176 times

What I Read

RE: Amazon now paying non US authors by EFT! Bye bye cheques :)

Thaks Sibel.
Should be enough for a meal out with the wife, as long as we order the house wine.
[Image: 41rhkIGNKiL._SL95.jpg]   [Image: 51mqDt327EL._SL95.jpg]    [Image: 51c7sKtKbeL._SL95.jpg]
Offline Alan G. Brown Reading
06 Feb 2013, 06:14 PM | Post: #23

Member
***

Posts: 166
Joined: Oct 2011

Thanked 3 times

What I Read

RE: Amazon now paying non US authors by EFT! Bye bye cheques :)

This post was last modified: 06 Feb 2013 06:16 PM by Alan G. Brown.
Thanks Sibel. Now off to check my settings. Even Amazon can enter the 21st century.
[Image: 5109lT08PiL._SL95.jpg][Image: 51wfGNci2XL._SL95.jpg][Image: 51FT5Wdw0VL._SL95.jpg][Image: 51gJrJqYwnL._SL95.jpg][Image: 51RyJNYRpIL._SL95.jpg][Image: 51j1jfq6a5L._SL95.jpg][Image: 51kuTLN5PKL._SL95.jpg]
Offline John Davy
06 Feb 2013, 06:21 PM | Post: #24

Junior Member
**

Posts: 4
Joined: Feb 2013

Thanked 0 times

RE: Amazon now paying non US authors by EFT! Bye bye cheques :)

(06 Feb 2013 06:14 PM)Alan G. Brown Wrote:  Thanks Sibel. Now off to check my settings. Even Amazon can enter the 21st century.

LOL...Finally! I think Amazon are the only company who still send cheques! They're getting pretty rare these days - I know I haven't written one for about two years.
---
Offline cecilia_writer Reading Murder by the Glass by Lynda Wilcox
06 Feb 2013, 06:32 PM | Post: #25

That Singular Anomaly the Lady Novelist
********

Posts: 2,692
Joined: Dec 2010

Thanked 232 times

What I Read

RE: Amazon now paying non US authors by EFT! Bye bye cheques :)

Thanks Sibel - really useful to know.
[Image: C15Mdg7JBaS._SL95.png]  [Image: B1hPVOedslS._SL95.png]
Offline buxtonarts Reading
06 Feb 2013, 10:51 PM | Post: #26

Junior Member
**

Posts: 5
Joined: Feb 2013

Thanked 0 times

What I Read

RE: Amazon now paying non US authors by EFT! Bye bye cheques :)

excellent - thanks ... its 2053 for my $10 then Confused
Amazon publications john fitton
Offline Damien J. Nash Reading Flux by Mark. R. Faulkner
06 Feb 2013, 11:18 PM | Post: #27

Author
******

Posts: 930
Joined: Sep 2012

Thanked 38 times

What I Read

RE: Amazon now paying non US authors by EFT! Bye bye cheques :)

It wasn't so long ago I looked at my meagre US sales and thought "meh, it's going to be ages until I reach $100, so let's not worry about US sales". Even more so for Euro sales (4 *cough* still not enough, but closer to £10 is better than far from $100 *cough*

Now... duh duh daaaaar! I might just be able to squeeze a tenner out of them most months.

Total lifetime royalties paid to me so far.... £18.01 Big Grin

Here's to the next remittance!
Offline George Hamilton
07 Feb 2013, 07:56 AM | Post: #28

Master of Verbosity
*******

Posts: 1,174
Joined: Dec 2010

Thanked 108 times

What I Read

RE: Amazon now paying non US authors by EFT! Bye bye cheques :)

(06 Feb 2013 10:42 AM)Steve Robinson Wrote:  Best thing is to just do it, Linda. I put it off for many months, but as the cheques got bigger I got upset to see how much the IRS were keeping. I can offset that when it comes to pay my UK taxes of course, but I'd like it to come to the UK - and I can make some interest on it before I have to pay my tax - if I don't spend it first of course.

Steve, it's very unlikely that you will be able to offset all the taxes the IRS has withheld, and if the amount you cannot offset is substantial, you may be better off submitting a US tax return and reclaiming all of the US tax withheld and then just paying your taxes in the UK. Here is an excerpt of a post I wrote on Goodreads which explains why - it applies to companies and sole traders:

2. You can claim double tax relief against your UK tax liability on the same profits by claiming a deduction of the US withholding tax. But this is unlikely to result in all the US tax withheld being relieved against your UK tax liability, because the withholding tax is likely to be higher than the UK tax on the same profits, and any excess of US withholding tax cannot be carried forward, but is lost. E.g. US withholding tax is 30%, UK corporation tax 20% (for profits below £300,000 2011 tax year). The UK tax will also be lower because you are allowed to deduct allowable expenses before it is calculated, whilst the US tax withheld is based on income before any deductions.
Offline Paula Jane
07 Feb 2013, 08:29 AM | Post: #29

Posting Freak
******

Posts: 621
Joined: Sep 2012

Thanked 35 times

RE: Amazon now paying non US authors by EFT! Bye bye cheques :)

Brilliant! Clapping hands At last, no more trips to the bank and letting them have their FAT cut! Wine1
Paula
Children's author and illustrator.
http://www.amazon.co.uk/Paula-McBride/e/B005IQ4UMA
[Image: 51pw6eXIFVL._SL95.jpg][Image: 51M56QOBBdL._SL95.jpg][Image: 51RkuTNLjIL._SL95.jpg][Image: 51icEQKTbSL._SL95.jpg][Image: 51G66QpcXvL._SL95.jpg][Image: 51XzRHpCAEL._SL95.jpg][Image: 51QXD9g5r1L._SL95.jpg][Image: 51b84DVqBeL._SL95.jpg]
Offline Ray Kingfisher Reading No, Writing.
07 Feb 2013, 10:26 AM | Post: #30

Master of Verbosity
*******

Posts: 1,165
Joined: Sep 2012

Thanked 120 times

What I Read

RE: Amazon now paying non US authors by EFT! Bye bye cheques :)

Even though I am yet to receive anything from the US, I have to agree that this is fantastic news.

However, regarding the info on avoiding US tax, think for a moment about Starbucks/Amazon/Google etc.
They've done exactly the same thing in the UK and got a huge amount of stick for it (including some from KUF members).

I wonder if anyone here fancies having the US version of the 'Pay Your Taxes' mob on their back?

Oops, bit of politics.

RK
[Image: 51y5K6eT-IL._SL95.jpg]  [Image: 41Sbp8zGoPL._SL95.jpg]  [Image: 51-U1w3xnrL._SL95.jpg]  [Image: 51N1yXKzonL._SL95.jpg]  [Image: 512YvYLa3-L._SL95.jpg]  [Image: 51LT3qz-%2BzL._SL95.jpg]  [Image: 51ka%2BBWFFYL._SL95.jpg]  [Image: 51leGk78ZOL._SL95.jpg]

www.raykingfisher.com

Currently Reading:travels in Elysium by William Azuski Last Book I Read:Conversations in the Abyss by Michael Brookes Favourite Genres:Literary,Historical, Crime,ThrillerFavourite eBooks:
See my recommendations
Currently Reading:A Quiet Life by Natasha Walter Last Book I Read: Favourite Genres:Pretty much anything, apart from RomanceFavourite eBooks:
See my recommendations
Currently Reading: Last Book I Read: Favourite Genres:Crime, Adventure, SF
Currently Reading:Murder by the Glass by Lynda Wilcox Last Book I Read:Colonel Sandhurst to the Rescue by MC Beaton Favourite Genres:Murder mystery; historicalFavourite eBooks:
See my recommendations
Currently Reading: Last Book I Read: Favourite Genres:sci fi, biographies
Currently Reading:Flux by Mark. R. Faulkner Last Book I Read:Neverwhere by Neil Gaiman Favourite Genres:Indie books!
Favourite eBooks:
See my recommendations
Currently Reading:No, Writing. Last Book I Read:Celluloid - Holly Curtis Favourite Genres:comedy, heavy emotional drama.Favourite eBooks:
See my recommendations