We cover bookkeeping, tax and accounting issues for makers.
bookkeeping tax
We discuss the considerations around how to select the best bookkeeping software if you are a handmade business.
Confused about your tax obligations as a handmade seller? Read on to find out how to stay on the right side of the tax man.
We discuss the different structures available for US businesses, and show you the advantages and disadvantages of each one.
Wondering if your handmade business is considered a hobby or a business? This article will explain the finer details from a tax perspective.
If you are sole trader that makes your own products then Quickbooks Self Employed (SE) is most likely not your best option - we discuss why.
This article discusses how shipping label costs from your Etsy sales can be claimed on your tax return.
If you are just starting your craft business and need some advice, or need some guidance on what to do next in order to grow your handmade business further then definitely consider arranging a mentor meeting with SCORE.
We walk you through how to get the sales and order data you need from Etsy's reporting and downloading options in our comprehensive guide.
If you store your inventory and product samples at home in a dedicated location, you should be eligible to claim for business use of this space without needing to meet the usual "exclusive use" test.
We explain what Etsy sellers need to know about the 1099K form, what you'll need to do with this form and what to do if you don't receive one.
Unfortunately, Etsy doesn't currently provide a easy way of obtaining your financial sales information for tax time. We show you an easier way!
As a maker, one of the first things to realise is that you are not just a retailer of your goods - you are also a manufacturer of them. Why does this matter? Well for starters, it changes everything about the way you need to report your end of year revenue and expenses to the IRS.
Why generic bookkeeping packages not built for handmade sellers are typically not the right choice for craft sellers.
We discuss the advantages and disadvantages of each inventory valuation method, showing you the best one to use for your manufacturing business situation.
We show you why it's important to know the difference between your indirect and direct expenses when running a craft business.
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