Zach continues to like math, he’s passed me up in doing multiplication in his head, he’s behind the wheel of the Tesla above, his Sister Ava is Zach’s understudy, it’s given me a lot of insight into the advantages of being the second kid.
After a long sabbatical, I think I’m back. I wanted to update you on a few things I get asked about, and then share my direction. I will appreciate your input.
First, it might be hard to believe, but it’s fairly easy to make money that costs you more to file federal income tax on than it’s worth. I’ll give you the example of Bill Rogers, the way he got paid for his ebook included forms that force you into filing a far more complicated and expensive Federal Tax Filing. In Bill’s case, he took the ebook off the market, because his CPA was charing him more for all the extra paperwork than his share of the proceeds. Basically, Amazon, the CPA, the IRS were all happy with the arrangement, but not Bill.
I have some very minor oil and gas interests, last year I got $63 worth of checks from these royalties, but spent just shy of $200 to account for the money I received. I have a friend that keeps very close track of his petty royalty money and then claims the money came to him in a miscellaneous way, he makes sure to claim it all, and figures it will be less hurt if he gets audited, but says he’s tired of losing money in the making of it.
I may have found a way to accept small contributions to keep this site on the air and to improve it, I keep slowspeedengines.com and utterpower.com active, and I pay a hosting company to keep these things up. Kirk Vandenberg has also been doing me a large favor of keeping blogging software up, I have sent him money for a meal out at times, but I have not rewarded him in a long time.
So here’s my idea, I’ll accept a gift to help keep this site on the air, in exchange for internet-delivered digital CDs and possibly copies of Bill’s book. According to the last person, he was able to download all of the CD info onto his hard drive. I think a $20 fee would be the recommended donation, but accept less if people are strapped. I’ll consider stepping up to that big fee of making more paper books if there was enough interest expressed here.
About a week ago, a professor teaching at a University in the US was alarmed by all the websites saying you could download Bill’s book for free, but nowhere could he do so. in addition Amazon had listed it, but he couldn’t download it! I think the free offers are just trying to harvest a ‘click-through’ from you that produces revenue for them. I told the Professor, I’d check in with Bill, and get him a copy one way or another, and that was done.
I found running a small business no fun at all, in order to meet all the requirements of City, Country, State, and Fed, you need a pretty good set of books, and the last copy of QuickBooks I bought was expensive. I did have a CPA for a while, but it was another business that made that feasible.
I doubt my donations will ever exceed my expenses, but if they ever do, I’ll claim the income as miscellaneous. I do have a number of garage sale items around here, and I should make people aware of what I have before I get rid of it. If it doesn’t fit in a flat rate box, I’d like to sell it out of the shop door.
One of the things I need to do is hire a person to go through old pages and remove offers and prices, all the pages are well marked that they are for reference only, but no one sees that. Occasionally I get a big thank you from someone who found an answer to their problem on my pages, this has caused me to leave them up all these years.
Still, there’s reason to have more discussion here. I think DIYers will eventually inherit the earth, no one else will be able to pay the man to keep all their stuff running.
All the best, and Happy New Year!