Re: Tax man stuff

Thanks for the info. I am really happy about going with Julia.

On Wed, Sep 28, 2011 at 12:56 PM, Daniel Conaway <dconaway@writershouse.com> wrote:

Gregg and Barrett-

Here are the financials.

The payout from Amazon will be
$75,000 on signature,
$50k on acceptance of the final ms (February 1, 2012)
and $50 on publication (date not determined yet.

And to remind you, here's how the money is split between you:

For the first $100,000 (gross) received for the Book from any source (publishing, film rights, etc), that portion of the proceeds shall be divided 50% to GH and 50% to BB.

A. For the next $150,000 (gross) received for the Book from any source (publishing, film rights, etc), that portion of the proceeds shall be divided 60% to GH and 40% to BB

B. All proceeds above $250,000 (gross) for the Book from any source (publishing, film rights, etc) shall be divided 70% to GH and 30% to BB.

OK, breaking it down:
First payment (should have that by Thanksgiving or so) of $75,000 gross minus $11,250 commission = $63,750 net / 2 = $31,875 each

Second payment (early March 2012, assuming delivery date goes as planned) of $50,000 gross minus $7500 commission =$42,500 net
Gregg gets $23,375
Barrett gets $19,125

Here's how we get to those second-payment #s:
First $25k of that is split fifty-fifty, second $25k split sixty-forty:
Therefore, n the first $25,000 of the second payment = 21,250 net / 2 = $10,625 each
Second $25,000: 21,250 net x .6 = $12,750 to Gregg; 21,250 x .4 = $8500 to Barrett

Third payment (not sure when-depends on Amazon's publication schedule) of $50,000 gross minus $7500 commission = $42,500 net
X .6 = $25,500 to Gregg; x .4 = $17,000 to Barrett

Let me know if you have any questions.

Best,
Dan

Dan Conaway
Literary Agent
Writers House
(212) 696-3825