Revenue and Profit, Don’t Get Confused Between The Two
Revenue and Profit are two totally different things in your handmade business. Don’t get confused between these two terms. To get straight to the point. Revenue is the money you make by selling your finished items or patterns. Profit is what’s left after paying your expenses. Many handmade business owners get totally confused by the …
How to organize your bookkeeping paperwork
How to organize your bookkeeping paperwork. Organizing the bookkeeping paperwork for your handmade business starts January 1 and continues all year long ………..today I’m going to offer you some tips on getting things organized. Many blog posts I’ve read about getting your financial/bookkeeping paperwork organized – talk about getting things organized for year-end so you …
End tax time panic, update your bookkeeping all year
Want to end tax time panic? It’s simple, update your bookkeeping weekly all year long. Tax time comes but once a year. So many handmade business owner scramble to do months worth of bookkeeping tasks to “hurry up” and get ready for tax time, in a relatively short amount of time – hating every second …
Form 1099-NEC & your handmade business
Form 1099-NEC is used to report non-employee compensation of $600 or more during the tax year (2020, 2021, 2022, 2023, etc.). Handmade business owners, if you paid more than $600 to someone that is NOT an employee, you could likely have to file a Form 1099-NEC. Tax season is here, and it means more than …