With the beginning of a new year, there’s one thing that starts looming: Filing taxes. Don’t worry Silhouette and Cricut craft business owners – I’ve got you covered with a lot of tax information on the Cutting for Business blog. Today, I’m rounding it up in one place. Let’s start at the beginning. I get …
Internet sales tax laws are changing the way that both large and small businesses collect sales tax. There has been various federal legislation trying to make its way into law over the last several years – but as of 2020 – it hasn’t happened yet. As a small business owner, the best thing you can …
In addition to all the recent talk about Federal and State taxes over the last few weeks, let’s switch over and talk about Sales Tax. What is Sales Tax? Sales tax doesn’t cost your business anything. Instead, you act as the middleman and collect sales tax from your customer and submit it to your state. …
Let’s keep talking taxes! (I know, you are probably groaning right now, but this stuff is important!) Whether you are filing your taxes yourself or bringing them to a tax professional, I’m offering you a printable checklist of everything you need to have on hand before you begin. Download the Printable Tax Checklist here.
As we continue on talking about taxes on the blog (see this post and this post if you are a bit behind), we are going to look at a list of common tax deductions in your Silhouette or Cricut business. Tax deductions are expenses that your business has encountered throughout the year. You use deductions …
Let’s continue talking taxes here on the blog. I’ve already shared with you what the IRS says about business income versus hobby income. Missed it? Read that post here. Today, we are going to look at Federal and State Income Tax and Self Employment Tax in your Silhouette or Cricut small business. To clarify, I …
As you’re working through your tax paperwork for 2018, you might come across a blank spot on paperwork to write your EIN number. Today, we are going to take a brief look at EIN numbers and your craft business. What is an EIN Number? EIN stands for Employer Identification Number. An EIN number, also called …
One thing is certain at the beginning of a new year: Small business owners have to file taxes. Lately, I’ve been bombarded with questions about taxes, tax prep, and incorporating your business. Let’s take a look back on the tax resources I’ve shared with you in the past. Probably the most asked question I’ve gotten …
Taxes. No one likes them and I’m sure that small business crafters certainly would rather be creating products than crunching numbers to file sales tax returns. Today, I’m taking a minute to highlight a service called TaxJar which automatically computes your sales tax and will even file for you. Before I tell you all about …