Bookkeeping + Schedule C: A Step-by-Step Guide for Handmade Business Owners
Schedule C doesn’t have to feel confusing or intimidating. If you’re a handmade business owner with a solid bookkeeping system, this tax form becomes much easier to complete. In this post, you’ll learn how your bookkeeping numbers flow directly into Schedule C, what the IRS is really asking for, and how organizing your income, expenses, inventory, and cost of goods sold can make tax time far less stressful.
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 …
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 …
Bookkeeping using spreadsheets
Bookkeeping using spreadsheets was the most popular answer to a poll I created this week in my Free Facebook community. I asked the members of the community to tell me what they would like to learn more about: The most popular option was “how to set up a bookkeeping system using spreadsheets” and I have …