Taxes are part of owning a handmade or creative business – there’s no way of getting around it, especially if you want to be a legitimate business. Learn about various taxes and how to comply with tax laws.
Finished items inventory isn’t just what’s sitting on your shelves—it’s money tied up in your handmade business. In this post, you’ll learn how to track finished items inventory using a simple spreadsheet system, what actually needs tracking, and how to avoid the spreadsheet overwhelm that trips up so many makers.
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 …
Learning how to fill out a Sales & Use Tax Return can be a challenge for a handmade or creative business owner, well actually any sort of business owner. The second quarter just ended on June 30, so that means here in the U.S. many business owners need to complete and submit a Sales (& …
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 …
