A Good Bookkeeping System Helps You Complete Schedule C
Tax season is HERE and it’s time to file your Schedule C! This post includes an overview of the Schedule C for craftpreneurs and how a good bookkeeping system helps you complete it.
Tax Time Help for Handmade Business Owners
Tax time is right around the corner, and if you’re a handmade business owner there are “things” you need to keep track of and record in your bookkeeping system for tax purposes. This post has some bookkeeping and tax time tips to make your life easier.
How inventory works and why it’s important in your handmade business
How inventory works and why it’s important in your handmade, creative, or craft business can be totally confusing to understand. Running a handmade, creative, or craft business is a labor of love. The overhead required to keep it running smoothly is usually your precious time and energy. Understanding how inventory works and why it’s important to keep track of it, allows …
Sales Tax – What Craft Business Owners Need to Know
What craft business owners need to know about sales tax. In a nutshell, Sales Tax nexus happens when your business has some sort of connection to another specific state(s). That connection can be either physical, economic, or both.
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 terms “revenue and profit”. It …
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 of it. Leaving the bookkeeping …
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: creating a bookkeeping system using spreadsheets setting up QuickBooks Online to do your books using QuickBooks Desktop to do your books The …
As Tax time approaches-Advice from the bookkeeping fairy
As TAX time quickly approaches, I’m betting most of us wish we had a bookkeeping fairy to turn to for advice (or one that could simply work her magic and our books would be done). Unfortunately, there is no such thing as a bookkeeping fairy – but I can offer up some advice. Unfortunately, there is no magic answer for …