Creators, coaches & info products

Books and taxes for newsletter operators.

Paid subscriptions through Substack or beehiiv, sponsor ad slots booked weeks out, referral bonuses, and a freelance writer to pay each issue. Your own bookkeeper sorts all of it, an accountant checks every transaction, and you get one number a month.

Book a call What we handle
  • From $197 a month
  • An accountant on every transaction
  • Cancel whenever
MayExample month
$12,300
what you made

May came in at $12,300. The sponsor slot for the last two issues finally paid, so I matched it back to the issues it actually ran in.

  • beehiiv subscriber payoutPaid subscriptions
  • Sponsor invoice, fintech brandSponsor ad slots
  • Freelance writer, direct invoiceWriter and editor pay
  • ConvertKit subscriptionEmail software
  • Referral bonus payoutGrowth and referrals
Money in$19,500
Money out$7,200
Set aside for taxes$3,000
An example month. Yours will have your numbers.

Why your books are different

A newsletter's books go wrong in a few specific spots.

A generalist sees deposits and calls it revenue. Yours is monthly subscriber payouts, sponsor slots booked and paid on their own timeline, and referral bonuses paid out to readers who bring in new subscribers. When the books do not separate them, growth spend looks the same as a shrinking list.

  1. 1

    A sponsor slot gets paid after the issue runs

    A sponsor booked for issue 42 might not pay until the invoice clears weeks after it already ran, so the income lands disconnected from the actual issue it was for.

    What we doMatches sponsor payments to the issue they ran in, not just the month the invoice cleared, so you can see what each slot actually earned.
  2. 2

    Referral bonuses look like a cost, not growth

    Paying out cash or gift cards to readers who refer new subscribers is really a customer acquisition cost, but lumped in with software subscriptions it just looks like money leaving with nothing to show for it.

    What we doKeeps referral payouts in their own line next to new subscriber growth, so you can see whether the program is actually paying for itself.
  3. 3

    Paid subscriber revenue and sponsor revenue blur together

    A subscriber payout and a sponsor invoice can land in the bank the same week, and without separating them it is hard to tell whether the list itself is growing or the newsletter is just leaning harder on ad sales.

    What we doKeeps subscription revenue and sponsor revenue in separate lines, so the recurring, predictable part of the business stands out.
  4. 4

    A freelance writer paid per issue has no running total

    Paying a different rate for a guest essay or a research-heavy issue means the writer's pay varies issue to issue, and it is easy to lose track of the year's total until a 1099 is suddenly due.

    What we doTracks every payment to each writer in one line, so the year-end contractor total is ready instead of reconstructed in January.

Your categories

The categories Gus keeps for a newsletter.

Set up once for how the newsletter gets paid and what it spends on. You never pick a category. He does, and an accountant checks it.

Money in

  • Paid subscriptionsMonthly and annual subscriber payouts from Substack or beehiiv.
  • Sponsor ad slotsDirect-sold sponsorships and slots booked through Paved or Swapstack.
  • Affiliate commissionsProduct links and promo codes shared in issues.
  • One-time reports or guidesPaid downloads sold to the list.

Money out

  • Writer and editor payFreelance writers, editors, and proofreaders paid per issue.
  • Email softwareConvertKit, beehiiv, or Substack's paid tier.
  • Growth and referralsReferral bonuses and paid subscriber acquisition.
  • Research tools and dataSubscriptions used to source stories and data for issues.
  • Website and archive hostingThe public site where past issues live.

What we watch for you

  • Subscription share

    How much of the month came from paid subscribers against sponsor slots, since only one of those is steady.

  • Cost per new subscriber

    What growth and referral spending actually costs against how many new subscribers it brought in.

  • Writer cost per issue

    What freelance pay costs against what each issue brought in.

  • The set-aside

    What will be owed, tracked every month, so a strong sponsor quarter does not turn into a surprise bill.

Ask Gus

Things newsletter operators ask Gus.

Text him like you would text anybody. He answers in plain English, and when a question is above his pay grade, an accountant looks and gets back to you.

A sponsor from three issues ago finally paid. Should that count as this month's income?

I matched it back to the issues it ran in, so you can see what that sponsor actually paid for, not just when the check cleared.

Is my referral program actually worth what I'm paying out?

I keep referral payouts next to new subscriber growth so you can see the real cost per subscriber. That call is yours, but the numbers are ready.

Should I bring my freelance writer on as a part-time employee?

That is above my pay grade. I track her pay all year, and the accountant can weigh in on whether that makes sense for where the list is.

The tax side

The tax side of running a newsletter.

Most of what trips people up here is a freelance writer paid inconsistently with no running total, and sponsor income that lands months after the work was done.

What your return has to get right

Your accountant signs it, so it gets done right the first time.

  • Paying a writer $2,000 or moreA freelance writer or editor not on payroll, paid $2,000 or more in 2026, gets a 1099-NEC by January 31. Gus tracks that total across every issue.
  • Self-employment taxAn operator not on payroll owes 15.3 percent in self-employment tax on top of income tax, up to the Social Security wage base of $184,500.
  • Form 1099-K from payment appsStripe and similar apps send a 1099-K once you cross $20,000 and 200 transactions in a year. Subscription income is taxable whether or not a form arrives.
  • The pass-through deductionMost newsletter businesses can take up to 20 percent of profit off their taxable income. Above $201,750 single or $403,500 joint, the accountant checks how much applies.

Deductions newsletter operators miss

Your bookkeeper knows what to look for in your statements. You never have to.

  • Email software fees
  • Freelance writer pay
  • Editor and proofreader pay
  • Research subscriptions and data
  • Website hosting
  • Referral program payouts
  • Business phone and internet
  • Stock photo licenses
  • Business liability insurance
  • Payment processor fees
  • Accounting and legal fees

General information about 2026 federal rules, not advice for your business. Your accountant looks at your actual numbers before anything gets filed.

All year, not just April

A newsletter's year, kept every month.

Issues go out on a schedule, and sponsor invoices trail behind on theirs. Your team keeps the books closed every month, all year. Every month in between, your bookkeeper closes the books and speaks up the moment something looks off.

  1. January

    Set the year's pace

    Last year's return gets started, the writer's 1099 is prepared, and a monthly set-aside is planned so April is no scramble.

  2. April

    Issue filed, taxes too

    The return is filed and signed, no scramble, since every issue since January has been feeding a running set-aside.

  3. July

    Check the subscriber math

    Where the newsletter stands, what it will owe, and whether spring sponsor bookings changed the number.

  4. October

    Before slots book up

    Sponsors spend down budgets before the year resets, often booking slots for the new year. Gus looks at what is coming and anything worth doing before December.

What you get

Starts at$197a month

What you pay depends on what your business needs, and it does not move after that, busy season or slow. No hourly bills, no surprise invoices, no setup fee.

Book a call
  • Monthly bookkeeping

    Every transaction sorted into categories set up for newsletter operators. You never categorize a thing.

  • An accountant checks every transaction

    Real review, every month, before your books close. Not a spot check.

  • Your business tax return, filed

    Prepared, reviewed, and signed by that same accountant every year.

  • The monthly number

    What you made, what you spent, what to set aside for taxes.

  • Your own bookkeeper

    A real person assigned to your business, in the app whenever you need them. No hold music.

  • On your books all year

    Every month, not just in April. Your team speaks up whenever something is worth your attention.

  • Cancel any time

    No contract. No cancellation call. Your books are yours.

Straight answers

Questions newsletter operators ask first.

Do I owe tax on subscriber revenue I never got a 1099 for?

Yes. All subscription income is taxable whether or not a form arrives. Gus tracks every payout from your bank statement so nothing gets missed.

I run two newsletters under one business. Can Gus keep them separate?

Yes. He tracks revenue and costs by newsletter so you can see what each one actually earns, even while they share one set of books.

A sponsor paid me a flat fee for a full quarter of slots up front. Is that a problem?

Not a problem, just worth noting. Gus flags when a payment covers more than one issue, so the monthly number reflects issues delivered, not just cash received.

My referral program pays out gift cards, not cash. Does that matter?

It still counts as a cost either way. Gus tracks the value of what goes out so you can see the real cost of growing the list.

My books have never been sorted since I started the newsletter. Can Gus start now?

Yes. Send the bank and payout statements you have. Gus sorts them, the accountant checks them, and most operators know where they stand inside a week.

Is a real accountant checking my books?

Yes. You get your own bookkeeper, Gus does the first pass on every transaction, and an accountant checks every one before your month closes. That same accountant prepares, signs, and files your business return. Goatkeeper is not a CPA firm, and we never pretend a person looked when they did not.

What does it cost, and can I cancel?

It starts at $197 a month, depending on what your business needs. No setup fee, no hourly bills, no contract. Cancel any time from the app, and your books go with you.

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Pick a time. That's the whole signup.

Fifteen minutes with a real person on our team. They look at where your books are, tell you straight what it takes to get caught up, and get you set up on the spot if it fits.

  • $197 a month to start
  • An accountant on every transaction
  • Cancel whenever