FACT: Tay-Tay is Worth Almost 17 Times MORE 
Than What's His Name

Taylor Swift and Travis Kelce. 

They’re all the buzz right now after announcing their engagement.

While I wouldn’t consider myself a “Swiftie,” I do have tremendous respect for her as a business person.

But she picked up her smarts the hard way.

In 2005, when she was only 15, Tay-Tay signed with Big Machine Records. Under that contract, Big Machine owned the master recordings of her first six albums.

Basically, this meant Big Machine controlled the rights to her recordings, which generated hefty profits for them.

Then, in 2018, Big Machine sold the rights to Scooter Braun without giving Taylor an opportunity to purchase the masters.

I could tell you similar personal horror stories about the business aspects of the writing and publishing business. 

Writer beware.

So what did Taylor do? She re-recorded all of her albums, placing her in the the driver's seat which became a stepping stone to her becoming a billionaire.

In just a moment, I'm going to share with you five mistakes writers make when setting up their writing business.

But it's one more reason you need to attend the October 4 Illumify Writers Conference.

Our theme this year is The 360-Degree Author. Successful authors and publishing professionals will be sharing how their area of expertise informs the way they write.

To begin the day, Carly Hill, author of the #1 Amazon bestselling book Therapreneur™, will be speaking to us about “Writing as a Businessperson.” 

Most authors step into the writing profession with little knowledge of how to make it work on the business end. 

You need to think about these things at the beginning of the writing process.

Carly is a licensed clinical social worker and 7-figure business mentor for therapists and coaches. She’s worked with thousands of students to help them achieve freedom and security by teaching them how to successfully build an online coaching business that’s led them to triple their revenue. 

She’s off the charts smart and the savviest young businessperson I have ever met.

The 360-Degree Author

Illumify Writers Conference

Saturday, October 4, 2025

8:30 a.m. – 5:00 p.m.

Reel Factory Events Center in Littleton, CO

Only $89 if you register before September 15

Your Writing Can Be Business and Pleasure

The truth? Most writers don’t think about their business until it’s too late. They get lost in the joy of storytelling, but when the contracts, invoices, and taxes start rolling in, things fall apart. 

So, let’s talk about five common mistakes writers make when setting up their business—and how you can avoid them.

1. Treating Writing Like a Hobby Instead of a Business

Many writers say, “Oh, I just love to write. I don’t need to think about the business side.” That’s fine—until you need to deduct expenses on your taxes, or you discover that someone pirated your book online.

Quick Fix: Set up a simple business structure, even if it’s just a sole proprietorship at first. Open a separate bank account for your writing income and expenses. Treat it like it matters—because it does.

2. Ignoring Taxes Until April 15

If you’re earning more than a few hundred dollars from writing, Uncle Sam wants a piece of the action. Too many authors are shocked when their first royalty check shows up—and they forget that writing income is taxable. Worse, they spend it all without setting aside anything for taxes.

Quick Fix: Assume about 20–30% of every writing dollar will go to taxes. Set it aside in a separate account so you’re not caught off guard. (Bonus: you’ll sleep better at night knowing you won’t get a love letter from the IRS.)

Pro tip: you need to register your writing business in your particular state in order to open a bank account.

3. Overcomplicating (or Undercomplicating) Business Structures

Some writers immediately run out and form an LLC or S-Corp before they’ve even published a book. Others never form any structure at all, even when they’re making six figures. Both extremes can cost you.

Quick Fix: Start simple. A sole proprietorship often works fine when you’re just beginning. As your business grows, talk to a lawyer or accountant about whether an LLC or other structure makes sense. If you're dreaming big, talk to an accountant as you begin writing. The right fit depends on your goals, your income, and how much risk you’re willing to take on.

4. Forgetting the Long Game

Writing a book isn’t just about sales—it’s about leverage. Too many authors think of their book as a one-and-done project. They publish, collect a few checks, and move on. 

But if you think like a business owner, you know your book can open doors to speaking gigs, consulting opportunities, courses, or even film rights.

Which happens all the time!

Quick Fix: Ask yourself: What do I want this book to do for me? Then build your business around that vision. If your book is a calling card for your expertise, focus on building services around it. If your dream is to be a full-time author, think in terms of series, merchandise, and intellectual property licensing.

5. Giving Your Work Away

If you want to make this more than a hobby, pay attention…

You are a business, not a nonprofit.

READ. THAT. AGAIN!!

People will value the worth of your writing according to the value you give it. 

Quick Fix: Don’t apologize for selling your book at full retail price at your book launch party or speaking gigs. Do you want to become a ghostwriter? Don't do it for free unless you're doing it for a nonprofit.

Pro tip: Any writing work you do free of charge for a nonprofit can be written off on your taxes. But make sure the nonprofit gives you a statement valuing your work—and make sure they give you maximum value for your services.

The Bottom Line

Taylor Swift’s fight for her masters wasn’t just about music—it was about ownership. Writers face the same crossroads. You can pour your heart into creating something beautiful, but if you don’t set up your business wisely, someone else could profit from your hard work—or you might unintentionally shortchange yourself.

The good news? You don’t have to do it alone. 

If you’re ready to invest in your writing career, let’s talk. Click below to schedule an appointment with me today:

Your book is your legacy. Let’s make sure the business behind it is strong enough to last.

Let's bring your book to life!