Whenever someone expresses concern to me about the legal or financial ‘legitimacy’ of their business, I get so excited because that is indeed the sign of an entrepreneur. As we know, I love to surround myself with entrepreneurs.
Also, though, when I hear “what taxes do you need to pay as a small handmade business owner?” I immediately glaze over like a donut. It’s what any mention of taxes does to me!
Thankfully, I have found reliable resources for getting my tax and legal advice, and I manage.
Taxes are part of life, and they are part of business whether we like it or not. I assume most of us do NOT like it, but we still want to do it properly and feel confident that we have our financial ducks in a row, particularly for the government. Not only is this an important step that you want to be cautious about, but it’s also confusing and usually involves boring government websites that are typically lacking as far as user experience goes.
It’s been so long since I’ve set my own business up, and I went through those emotions in a state of sheer panic, so I don’t remember the finer points to reiterate them to you.
Perhaps you’ve languished for months or even years in a state of fear about taxes? Maybe it’s THE reason you aren’t moving forward? Perhaps you lay awake at night worrying that the IRS will show up at your door? What if I told you that all that is standing between you and a bit more clarity around taxes is 45 minutes? It’s true.
Our friend Janet at Paper and Spark knows precisely what you need to do and understand. She has put together a free training all about when to worry about your taxes as a handmade seller. This is a totally free training that lasts about 45 minutes.
Janet is an accountant and has been working with small business owners for years, so she knows what’s on your mind about your business’s financial and legal responsibilities. As we do, she also knows that the answers that currently exist online are confusing and difficult to find.
Questions like these will be answered in her training: what taxes do you need to pay as a small, handmade business owner? do I have to deal with taxes yet? Is my business even really considered a business right now? Or am I just a hobby in the eyes of the IRS? What should they expect at tax time?
Whether you are brand new to selling or new to the tax part of selling, this training will provide an excellent foundational primer on the topic. You should prioritize this training if you have ANY concerns about taxes for your small business.
This post contains a partner link to Janet’s training. The training is free, and we highly recommend all of Janet’s services and products. Janet is a trusted source, and we endorse her entirely based on our personal experience and the positive experiences of hundreds of our students and members.