Helping handmade, creative and craft business owners learn to handle their bookkeeping, one step at a time!
Helping handmade, creative and craft business owners learn to handle their bookkeeping, one step at a time!
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.
Handmade business expenses MUST BE BOTH ordinary and necessary, according to the IRS in Publication 535 – Business Expenses and Publication 334 – Tax Guide for Small Business, in order to be deductible on your Schedule C Tax Return. But what the heck does ordinary and necessary even mean? I’ll explain in this post.
Negative thoughts about the bookkeeping for your handmade business will keep you stuck! Learn about 6 common negative thoughts about bookkeeping and how to overcome them. Bookkeeping isn’t sexy or glamourous – and everyone can come up with a bazillion excuses (oops, I meant REASONS) to avoid doing their bookkeeping. The more times that you …
How to categorize craft business expenses is really pretty simple. By the time you finish reading this post you’ll be ready to tackle the task at hand. Categorizing craft business expenses can be totally overwhelming and confusing for new handmade, creative or craft business owners. Heck, even some of us who’ve had a 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 …
Am I serious about helping handmade business owners learn to handle their bookkeeping? Believe it or not, but last week I was asked this question in an Instagram direct message. The question came from someone who has one of those private Instagram accounts. The question was asked because they felt I wasn’t present enough on …
Wondering if using bookkeeping software or spreadsheets for your handmade or creative business bookkeeping is a better choice? Well, you aren’t alone – it’s a tough question and doing the research makes it an even tougher decision. And, let’s face it, I KNOW that most handmade or creative business owners DETEST doing their books and …
When do I FINALLY get to pay myself? That’s a question most handmade business owners often ask and one that I hear a lot. Yes, you’ve been working really hard on your handmade or creative biz, the money is starting to roll in, and YES, you deserve to pay yourself. BUT, before you can figure …