Craft Show Tax Season
With a little creativity and stellar bookkeeping, you can make the job of figuring out
taxes a whole lot easier. Here are a few tips to make the tax process easier, and a couple
of ways you might consider to save some money in the end:
The cost of doing business - Keep the receipts for anything that you have to spend
money on related to running your business. This means everything from the gas in your
vehicle (usually calculated with a set mileage amount), to production costs, right to the
professional advice you seek for helping you with your taxes. These are all costs related
to your craft show business and building your crafts, and they can be deducted from the
overall gross income you have made during the year.
Hire a professional - Whether you hire a tax accountant, or a tax lawyer to provide you
with the guidelines for calculating and filing your taxes - they will provide you with a
wealth of knowledge and expertise to help you keep as much money in your pocket and out of
the greedy grasp of the tax man. Most professionals are not going to charge you a fortune,
and can often find numerous ways to help you lower your overall tax bill.
When in doubt, keep track of it - You don't always know the ways that your tax accountant
can help you. If you are wondering about whether you can claim a certain expense for your
craft show business, then you should probably err on the side of caution. This way, you aren't
going to kick yourself for something that could have saved you more money.
Be diligent in your records - It is important to put yourself in the same mindset to
save money as you are in to make it: that means the little things count. If you blow off
one craft show expense because you think it is minimal, imagine if you did that 4 times
per month - that's nearly 50 times per year! All of those 'little' craft show expenses can
amount to a lot of savings at the end of the year!
Who enjoys paying taxes on their small business? No one! That's why you need to take
this part of running your craft show business as serious as you would the money making
part. By being prepared, and knowing how you can limit the amount you are required to give
back to the government - through good accounting and knowledge of the claims you can make
as a business owner - you are going to save yourself a great deal of money at the end of
Natalie Goyette shows you how to make your craft show business profitable in her best
selling ebook: Craft Show Success Secrets. Visit her site: