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I would add that like the IRS we’ll hold back a portion of your payment as a hedge against returns. The amount withheld should be specified on the statement, and it is usually released to the author within 1, 2, or 3 reporting periods. This will continue indefinitely, or at least until the publisher keeps your book in print, so that you would continue to earn additional money in the form of royalties for years to come.’ ‘Let me ask a dumb question, Carol.’ ‘Paul, there is no such thing as a dumb question.’ ‘I’d argue the point, but I know what you mean. In any case my question is how are royalties actually determined?’ Carol laughed and answered quickly. ‘Let’s say a book is listed at $25.00. If your contract says you get 10% royalties off list, then you will get $2.50 per book. If you are getting 10% of net profits, then you’d get around $1.25 per book. Currently I believe most publishers are offering net royalties. Additionally, you will likely get a higher royalty rate for. To be truthful, until Henry took our sex life in hand, I was the prim and proper wife who took the act of lovemaking as a chore and something that was a weekly ritual to be endured." She looked down and dug the toe of her right boot into the snow. "Henry must have thought I had the sexuality and libido of an old maid. Breed a family then have done with all that disgusting nonsense." "We are so alike you and I," said Lizzie quietly. "Funny how fate plays her hand sometimes." The snow had begun to fall again as the bells of St Pauls pealed in the distance. Lizzie took her hand and stood up. "Come let us be on our way for the sky looks full and I don't fancy the idea of walking up Ludgate in a blizzard. You can catch a hansom at the entrance to the park." Prudence mounted the step and got into the black carriage. In front, a pair of Shires stood blowing clouds of white steam as their driver jumped up into his seat. Prudence pulled the door shut and leaned out of the window as Lizzie.
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