Choosing a business structure for your handmade business

Choosing a business structure for your handmade biz

Choosing a business structure for your handmade (creative) biz is one of the first things you should do.  You should also keep in mind that the legal structure you choose impacts everything – and I do mean EVERYTHING! You will need to research the different types of business structures that there are (I’ll give you …

set aside your self-employment taxes
Taxes

Self-employment taxes & your handmade business

Self-employment taxes are your responsibility when you have a handmade business.  When you are self-employed, you are responsible for paying your own Federal Income Tax, State Income Tax, Self-employment tax (Social Security and Medicare), and perhaps even additional city or local taxes.  You don’t have a choice and you can’t choose when you start contributing …