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set aside your self-employment taxes

Self-employment taxes & your handmade business

Self-employment taxes are your responsibility when you have a handmade business. You don’t have a choice and you can’t choose when you start contributing or paying these types of self-employment taxes. Tax payments are a major part of running your handmade business – you have the Sales Tax payments to the State that you need …

Sales Tax, Economic Nexus & your handmade business

Sales Tax, Economic Nexus & Your handmade business

Sales tax laws are changing quickly – and as a handmade business owner you need to know the rules about economic nexus and be prepared! You may have heard or read about South Dakota vs. Wayfair, Inc. and sort of just dismissed it for any number of reasons – but it is a really big deal. Under this …

Sales Tax can now be required to be collected for each state

Sales Tax, the Supreme Court Decision & your handmade business

Sales Tax tracking could (and probably will) get way more complicated for your handmade business.  On Thursday June 21, 2018 the Supreme Court passed a law in which every state who has not already done so may now pass laws requiring all online retailers to collect sales tax and remit it to the state where the customer …

Sales Tax tracking tips

Sales Tax Tracking Tips for your handmade business

Tracking sales tax in your handmade business can be a total pain and it could get worse!  On Tuesday 4/17/18 the Supreme Court took up the battle between states and web retailers over the collection and remittance of Sales Tax and this could result in small business owners have to collect and remit Sales Tax …

How will the new tax laws impact your handmade business?

The New Tax Laws and Your Handmade Business

Wondering how the new tax laws will impact your handmade business in 2018?  I’ve been wondering too and now that my taxes for 2017 are done and there is better information available, I’ve been doing some research.  Here’s what I’ve found so far. First off, let me make it perfectly clear and remind you that …