We cover bookkeeping, tax and accounting issues for makers.
bookkeeping tax
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.
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.
For handmade businesses, it's important to know the difference between accrual and cash based and how it impacts on your bookkeeping.
There are many tax expenses involved in running your own professional craft handmade business - we guide you though some of the most common ones.
We outline the Principal Professional Activity (NAICS) most relevant to your handmade craft business.
Run a business where you make clothes and other fabric items? We outline some of the most common NAICS codes to choose from.
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