Articles Index

Five Types of Inventory

Your arts and crafts business will have a merchandise inventory if you operate a retail shop. Otherwise your inventory will consist of raw materials, work in process and finished goods.

Sole Proprietorship 1040-ES Tax Deposit

Kind of confused on how to figure a 1040-ES deposit amount? Here's an example walking you through the calculation for a sole proprietorship.

Selling Arts and Crafts to Seasonal and Year-Round Holiday Decoration Shops

Coordinating selling your seasonal arts and crafts at craft shows, online and brick-and-mortar seasonal galleries or shops is a good marketing strategy for your arts and crafts business. Here are my suggestions to a reader's question of "How can I find seasonal and year-round holiday decoration shops to wholesale my crafts?"

Tracking Finished Goods Inventory

From the email box: I have less than 50 crafts in my finished goods inventory, is there an easy way to keep track of my inventory? This is a question I get a lot. You have a smaller arts and crafts business or maybe a large one with few finished goods and you don't want to go through all the hoopla of tracking it with accounting software. This article explains a quick and easy way to handle this accounting task!

How to Depreciate Donated or Used Assets

From the emailbag: A reader wonders how to assign value and depreciate tangible assets they use in their arts or crafts business - in particular used or donated tangible assets. Find out how you should value and depreciate any assets for your arts and crafts business that you didn't purchase brand new.

Networking While Teaching Arts and Crafts Classes

A reader ask: I will be teaching a jewelry making class at a very popular non-profit adult learning center in a large metropolitan area. How can I use this as platform for networking? From your About.com Arts and Crafts Business Guide - Find out basic networking etiquette while teaching arts and crafts classes.

Etsy Standards of Handcrafting

Do you have an Etsy.com shop? If so, what do you think about the quality and prices of items sold by other shops? Post your opinion on the topic of whether or not Etsy.com allowing vendors to open shops selling items that aren't handcrafted.

Searching for Local Arts and Crafts Shows

It's easy to understand the need to know the schedule of available arts and crafts shows within local driving distance. Many artists and crafters enjoy and find it profitable to exhibit at shows, but would prefer to do it locally. There is sound rational in that decision if you are a new artist or crafter or are just doing it part-time. Here are my suggestions on how to find local arts and crafts show.

Finding Work in the Beading Industry

Stringing tiny beads into jewelry and accessories can be tedious. If you want to stay involved in this sort of craft without doing the actual stringing, consider being a beading manufacturing representative or hiring someone to do the beading for you. Here are my suggestions to a reader's question of "How can one could involve themselves with bead shows and be paid for it?"

From the Mailbag - Ending the Conversation With a Craft Show Talker

Ever been cornered by a craft show attendee that just wouldn't leave your booth area, in the process keeping you from helping paying customers? Here are some suggestions for politely but firmly letting the craft show talker know it's time to visit another booth.

Finding Suppliers of Yarn

Thinking about opening a yarn shop or are involved in fashion or textile arts or crafts? Find out how to find wholesale suppliers of yarn, textiles and related accessories.

Using Celebrity Images for Commerical Resale

Using an image of a celebrity for an arts or crafts product will more than likely involve copyright and model release issues. Find out the basic facts of using a celebrity image to sell your product.

Quick Tax Tips for Schedule C Businesses

Here are some quick tips for filing your Form 1040 and Schedule C for a self-employed arts or crafts business owner.

Double Taxation and Corporate Distributions

There are few instances of double taxation in USA Internal Revenue Code. However, the taxation of corporate dividends and S-Corporation distributions are handled differently. Find out how to handle each one and why in the final analysis, neither is a tax-free transaction to you.

Series LLCs

You may have heard there is a new type of business entity - a Series LLC. Basically this entity allows many separate limited liability companies to operate under the umbrella of a parent LLC. The purpose? Simplifying the protection of business assets.

Arts / Crafts Inventory or Expense?

If you produce a product, you will normally have both a cost of goods sold and inventory. Find out how to differentiate between the two.

Selecting a Schedule C Activity Code for an Arts / Crafts Business

Sole proprietors fill out a Schedule C to report arts / crafts business taxable income. This form asks for a activity code. Find out what this is and where to find it.

What Type of Business Entity is Good for an Arts / Crafts Business?

A quick discussion of how limited liability plays into the section of a business entity. Key is checking your state statutues.

Executive Summary

The executive summary portion of the business plan is in the beginning of the business plan. The purpose of the executive summary is to give your reader a thumbnail sketch of the business.

Prepare a Business Plan Before Quitting Your Job to Start a Craft Business

Before you quit a full time job working for someone else to start a craft business make sure you prepare a business plan. Working through the business plan will give you a good idea if you can cover your personal living and business expenses with the new venture.