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!
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.
If you sell on Etsy or accept payments through PayPal, you’ve probably heard scary talk about the 1099-K. The rules have changed — and not always in the way the internet makes it sound. This post breaks down what the 1099-K really is, when you’ll receive one, how state rules can differ, and what handmade business owners actually need to pay attention to at tax time (without panicking).
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 …
Form 1099-NEC is used to report non-employee compensation of $600 or more during the tax year (2020, 2021, 2022, 2023, etc.). Handmade business owners, if you paid more than $600 to someone that is NOT an employee, you could likely have to file a Form 1099-NEC. Tax season is here, and it means more than …
Sales Tax-the DIRTY lowdown of how it impacts your handmade or creative business. Sales Tax is totally overwhelming and often confusing for handmade and/or creative business owners. And it’s little wonder – few understand (or even want to think about) the impact that the Supreme Court ruling that went into effect June 21, 2018 had …