Arts/Crafts Business: Most Popular Articles
There are three types of financial statements: income statement, balance sheet and statement of cash flows. Each one serves a different purpose and contains different information. You should regularly review each one.
All crafts can be broken down into five major headings: textile, paper, decorative, fashion and functional. Check out the list below and you may have an ‘aha!’ moment. Sometimes we’re just so busy doing the everyday tasks that make up our business that we forget there are other complimentary craft areas we can expand into.
A list of the steps to take before starting a craft business and quick tips about each step.
Paper mache is one example of paper crafts. Dating back to AD 200, this type of craft is inexpensive and easy to learn. Plus, it can be incorporated into other arts and crafts designs to add surface interest. Find out the basics of making paper mache.
Learn how to pick a name for your new arts and crafts business. Find out about name recognition. Also discussed is picking out a name for your business that is descriptive of the type of art or craft you plan to market, taglines and picking out a website domain name.
Easy DIY instruction for making an adjustable bracelet knot. The adjustable knot lets the bracelet get larger so that it's easy to put on and with a pull of the bracelet cords, smaller so it has a snug fit.
Learn how to prepare an income statement for a merchandising business. Merchandising businesses use the cost of goods sold account to reflect some customer related expenses.
Free and low cost advertising is always a good idea. Find out about different ways you can promote your arts and crafts business on the cheap.
Is your computer running slow? As a last-ditch effort consider restoring it to factory settings. Find out how to restore to factory settings and see a few alternatives to this extreme measure.
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.
Handling the tax obligations of self-employed arts/crafts businesses can be confusing. Federal, state and local government can assess taxes. These taxes can show up in the form of income, sales, and use taxes. Find out more about the different type of self-employment taxes and which ones you may be liable for.
If you operate as a sole proprietor, partnership, or S-Corporation to be able to write off your arts and crafts expenses, your work has to be regarded as a business rather than a hobby. Find out how to report arts and crafts revenue and expenses if you're deemed to be a hobby rather than a business. Page 2.
One method of jewelry making uses a hot torch to join pieces of metal using solder. Soldering is one of the most basic techniques in jewelry making, but also one of the hardest to master. Learn about the basics of soldering including jewelry making resources.
Before you start a crafts business, carefully consider why you want to do it. Being a self-employed owner of any type of business is not a direct pipeline to financial success. Going into a crafts business with this type of mindset can set you up for failure.
When thinking about collage, the first thing that pops into many heads is that collage is a paper craft. Certainly many wonderful pieces of collage art and craft are created using paper. However, collage technically involves combining any type of material that is the same. Therefore, in addition to paper collage artists can use other raw materials such as fabric, metal or wood. Collage using a mixture of materials is referred to as 'assemblage'.
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.
Find out what trends will be popular in arts and crafts for 2014. Maintaining an eco-friendly business by recycling remains a relevant trend in 2014.
An important first step when deciding whether to go ahead with a business idea, is whether you'll turn a profit. Breakeven point analysis helps you make this determination as it shows you how much you'll need to sell at a certain price to cover your costs.
Your objective is to price your crafts so that you make a reasonable profit while not pricing yourself out of the market. It can be an art. Find out how variable and fixed costs plus perceived value factor into the equation.
Thinking about starting a knitting craft business? Your primary objective is to make sure you can make a profit while turning your love of knitting into a craft business. This article contains my tips on starting a knitting business from selecting knitting patterns to finding knitting resources.
Learn about sole proprietorships, corporations and flow throughs, which are the three different tyeps of business entities. When selecting a form of business entity, compare the tax, liability and management impacts of a sole proprietorship, corporation or flow through.
Equity shows the combined total of your investment in the business. Another term for equity is net assets, which is the difference between assets, which are resources a company owns, and liabilities, which are claims against the company. Find out how to record equity on a sole proprietorship balance sheet.
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.
This article introduces the accounting system, which is the nuts and bolts of collecting, sorting through, and entering accounting data into business accounting software. Specifically, this article discusses the cash receipts journal which you use to record cash in and outs for your arts and crafts business.
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.
Making resin jewelry charms is quick, easy and inexpensive. This article shows you how to use two-part epoxy resin to make a resin pendant.
If you want to participate in holiday-oriented arts and crafts, you're reaching the break-even point to get moving on your designs. While there are many arts and crafts shows during the 4th quarter of the year selling gift items, this article particularly addresses crafting and selling holiday decorations.
Find out how to write a business plan by walking through the standard eight parts. Learn why writing a business plan is important and what type of information is contained in the appendix.
Get a quick tutorial on the type of balance sheet accounts you'll see in the chart of accounts. The chart of accounts report is a complete list of all the accounts you create for your business and their current balances. Page 2.
Using the right recipe and process, it's fairly easy to add color to brass and copper. Find out how to oxidize metals to add a colorful patina using cat litter and other household items.
Use breakeven point analysis to figure out the volume of craft items you have to sell to cover costs for your arts and crafts business. This article shows you a quick and easy way to figure breakeven point using an Excel spreadsheet.
One of those many practical sides vying for your attention is keeping the books for your arts and crafts business. This article introduces you to bookkeeping and explains the basics of keeping the books for your arts and crafts business.
When sole proprietors fill out a Schedule C to report business taxable income, they must include an activity code. Here is what you need to know.
Learn about resin arts and crafts made from a two-part epoxy. While many jewelry artists use resin, it is a great medium for sculpting, mixed media and painting. Find out about resin basics and artists and crafters using it in their work.
Find out more about the cash payments journal by identifying the debit and credit columns. The cash payments journal is where you record all transactions in your business where cash has changed hands.
The balance sheet is the financial statement showing your arts and crafts assets, liabilities and equity. You'll need this information to make business decisions, apply for loans and to write your business plan. While sole proprietorships don't include a balance sheet with their tax return, this is a requirement for all other business entities. Learn about the difference between assets, liabilities and equity and what types of accounts your arts and crafts business will have in each.
If eBay’s the king in online marketplaces, the queen for crafters is Etsy.com. Etsy accepts listings for handcrafted items, is an online marketplace for supplies and also allows listings for vintage items.
Trademarking protects your arts and crafts business name, logo or slogan. Your first trademarking step is to make sure it is available. This article walks you through my TESS search.
If you have even one employee for your arts and crafts business, you have to submit Form 941 four times a years. While this form is pretty easy to fill out once you do it a few times, it can be confusing the first time you tackle the job. This article gives simple, easy-to-follow instructions on how to fill out Form 941: Employer's Quarterly Federal Tax Return.
One area of confusion when deducting business-related expenses is the office in the home. Find out how to prepare the tax return Form 8829. Page 2.
If you paid a non-corporate entity more than $599.99 for services provided to your arts and crafts business in 2009, you'll need to issue them a Form 1099-MISC. The Form 1099-MISC has to be issued to the recipient by the last day in January and mailed to the Internal Revenue Service with the Form 1096 (transmittal form) by the last day of February.
Finding great,reliable vendors is one of your first steps in starting an arts and crafts business. Without knowing how much your vendors are going to charge you for the art or crafts supplies you use to make your product, how can you set a reasonable retail price? It's also important to have reliable art and craft supply vendors that you can count on to ship the crafts supplies and arts materials when you need them.
Which type of arts and crafts company do you own? Depending on how you operate your business you can be a service, merchandising or manufacturing company – or any combination of the three.
Are you a part-time artist or crafter wondering if there is any limit under which you don't have to record your income from selling your arts and crafts items? An arts and crafts reader posed this question - find out the answer! Also discussed are garage sales and self-employment tax.
If you've ever thought about starting and running your own successful craft business it's a good idea to get good practical experience working for another established craft business first. Don't have the time to be an intern? There are alternatives.
Find out more about the cash receipts journal by identifying the debit and credit columns. Spoiler alert - as it is a cash receipts journal, you might have guessed one column is for cash!
A pop-up shop is a short-term retail space that appears seemingly out of nowhere, quickly drawing in customers, and then disappears when the optimal selling season is over. Using pop-ups shops are a great way for artists and crafters to have a retail presence during major selling periods during the year without the hassle of maintaining a full time lease. Here are my tips for opening a arts and crafts retail pop-up store.
If you drive your car in the normal course of running your arts / crafts business you have two methods to choose from when figuring your business mileage tax deduction. This article discusses using the standard mileage rate.
Your first step to open an Etsy shop is to create a Etsy account. This requires you select a unique username representative of your shop concept.
Most brand new arts / crafts businesses start out as a sole proprietorship because it is the easiest and cheapest type of business entity to start and maintain.
Ten useful tips on how to sell your arts and crafts online. These tips will help you get started with the design of your arts and crafts business website. Once you understand the basics you're on your way to making money by selling your arts and crafts online.
An arts or crafts manufacturer handcrafts the products sold directly to the consumer - for example at a craft show or through a website. A manufacturer can also sell on a larger scale to unrelated retail businesses like a craft boutique or art gallery. If you are an arts or crafts manufacturer, find out how to account for your expenses on your income statement.
It's very easy to make goats' milk soap from scratch. Find out what supplies and raw materials you need to make your own goats' milk soap. This articles provides information about the basics and add-ons such as essential oils, herbs, flowers and grated fruit peel.
Learn about the different types of arts and crafs business types and entities. Get an introduction to business licenses. Decide whether you need to trademark your tagline.
Find out how to find short-term storefronts for your arts and crafts business. Selling seasonally, such as Christmas crafts, in a short-term pop-up shop is a great way to bring in revenue while not having the responsibility of a year-round lease.
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.
Learn the difference between copyrights, trademarks, patents and licensing - four ways you can protect your intellectual property from theft.
Learn the ins and outs of opening a shop on Etsy. Walk through the seven basic steps from picking an Etsy username to finding out about the listing fees and the Etsy community of crafters.
Follow my instructions to make a knotted sterling silver Figaro chain charm bracelet. No soldering skills required. Use split rings and split ring pliers to attach the charms and chain to the clasp.
Selling arts and crafts on consignment means you supply a shop, the consignee, with goods that their customers can buy. In return you receive a percentage of the retail cost when your arts or crafts item is sold. Find out the ins and outs of doing this and whether it's worth the effort.
Every artist or crafter needs an artist statement. Your statement concisely gives a basic introduction to your art. This article show you how to prepare your own art or craft statement.
After reading about Fiverr, which is a marketplace in which sellers are willing to do a variety of jobs for a flat fee of $5, I decided to try out the service to create a logo for my blog. Find out how my order ended up and my advise for working with Fiverr.
Learn how to use jump ring pliers to securely attach jump rings to charms and jewelry. Using a simple two-step method makes sure your finished jump ring stays closed without soldering or using glue. You learn this technique making a St. Christoper surfer rubber necklace.
I am a big fan of arts and crafts cooperatives. They are a good way to connect with other artists, the public and reduce operating expenses for your art and
Just about the only way to make money selling knitted goods is to use a knitting machine. Using a used home knitting machine at first before laying out the money for an expensive commercial knitting machine will give you a good idea if this is a venture you want to pursue.
Here are the images to show you how to set up the cells in your spreadsheet for breakeven point analysis.
Bed bugs are a big problem facing today's travelers. Educating yourself about the problem is half the battle. Find out about my bed bug experience while traveling.
Sole proprietorships report items of income and expense on Schedule C. Gross income consists of revenue and cost of goods sold. Find out how to calculate gross income and fill out Part 1 of the form Schedule C.
Do you want to start a craft business, but are just not sure what type of craft you want to sell? From your Arts and Crafts Business Guide - find out the five recommended steps to move a craft business idea from infancy to fruition.
If your arts and crafts business is small or you sell just a few high-price items each month, you may feel it’s not worth the effort or expense to buy accounting software or spreadsheet software to prepare computerized invoices. In addition, if you are at a craft show or a similar type of venue, you probably won’t want to go through the hassle of bringing along your printer so you can prepare a computerized invoice for each sale. This article walks you through how to handwrite customer invoices.
If your arts and crafts business is a corporation you file Form 1120 to report your taxable income. Find out about Schedule J and K which you use to calculate your federal income tax and answer basic questions about your business.
When figuring out net and taxable income, you have to reduce your costs of goods sold for items still in inventory. This article discusses the different types of inventory and suggests ways to calculate your ending inventory.
It may be impossible to please all your customers but you can increase customer satisfaction and decrease returns by including a complete product description for every item you sell. This is especially true for items you sell on the internet since your customer won't be able to see the art or craft product in person prior to purchase. Check out these examples of arts and crafts product descriptions.
A fundamental of owning any type of business is preparing customer invoices. If you're a new arts and crafts business owner, you may be unsure about how to prepare one. Here are your customer invoicing basics.
If you have a fashion craft arts and crafts business, I find it makes a huge positive impact on sales to show celebrities wearing the same sort of item you're selling. However, what about using celebrity images on your Ecommerce site? If you don't have the opportunity to shoot the images yourself, is it possible to use celebrity images without violating any copyrights? This articles introduces the legality of using images you find on the internet.
Collage arts and crafts are created when similar types of materials (paper, fabric etc) are combined, using a variety of methods to create paper and decorative arts and crafts. Assemblage combines different types of materials. This form of arts and crafts requires no special tools or training. Want to get your arts or crafts feet wet in collage or assemblage? Here are some fantastic free and relatively cheap resources.
After you’ve created your Etsy account, your next step is to create your shop. Ever open a brick and mortar craft shop? The concept online is not very different. You want your Etsy shop to be a visually appealing place for your online shoppers that is easy to navigate and clearly spells out all your shop policies.
Find out more about creating a logo for your arts and crafts business. Understand the importance of considering your target demographic and tone.
A fundamental of owning any type of business is preparing customer invoices. If you're a new arts and crafts business owner, you may be unsure about how to prepare one that looks professional and provides all the payment information your customer needs. Find out the basic information you should include on each customer invoice. Learn how to prepare a manual invoice. Use QuickBooks? Find out how to organize your customer and jobs.
Before you can sell on Etsy, you need to add items. Etsy has five templates to help walk you through this procedure. Your first step is to make sure you have a good description and images for your item.
This article shows you how to use QuickBooks types to organize your jobs so you can organize your customer base by grouping similar customer or jobs together. Using this info, you can run reports to provide timely and relevant information about which type of customer or job is the most profitable.
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!
A nice addition to many arts and crafts product lines is hand milled soap. Using my instructions, it is quick and easy to make your own hand milled goats' milk soap tailored to a specific need such as religious, health, beauty or relaxation.
Learning how to use gem setting pliers will give you the opportunity to bring additional revenue streams into your arts and crafts business. You can charge customers to tighten loose prongs and add quick and easy jewelry pieces to your product line.
Find out more about the sales journal where you report all your customer sales made on account. See an example of a simple sales journal. The sales journal includes the sales and accounts receivables accounts.
The second in a series of articles about organizing your accounting records, this article shows how to use a spreadsheet to track expenses. You also find out the definitions of key accounting terms like inventory and cost of goods sold.
This article walks you through the procedure to electronically register a copyright on an original piece of work. Any original piece of work is automatically copyrighted regardless if it is published. However, registration is required to seek legal action against violators of your copyright.
One of the many ways to sell your arts and crafts is to market them through museum gift shops. Think back to every time you’ve paid a visit to a museum, I’m sure you’ve noticed that a gift shop is usually front and center, luring you to come in and browse after your visit. If you’ve ever done so, you’ll find some of the items in museum gift shops are mass-produced, others are hand crafted.
If you knit as a hobby and would like to turn your love of knitting into a profitable craft business, you may be afraid you'll never make a profit since it takes so long to knit a garment. To work around this problem, you may have to modify your knitting mindset somewhat. Check out my suggestions for transforming knitting from a hobby to a profitable craft business.
Many artists and crafters sell either wholly or partially online. Those that don't care about or don't have the time to maintain their own website sell through online craft marketplaces such as Etsy or ArtFire. I recently discovered another online craft marketplace called the Handmade Artists' Shop (HAF shops). This is a relatively new online marketplace started by The Handmade Artists Forum. I took a look through the Handmade Artists' Shop website and here's what I found out.
Considering selling your arts and crafts in an online marketplace? This articles gives you a heads-up on the most popular from Etsy to ArtFire to Artful Home and more! Get concise info to the policies and costs of each and come back frequently for updated information!
The amount of money that is taxable as ordinary income when you use a leased vehicle in your business. The purpose is to equalize the tax effect between depreciating an owned vehicle and writing off a lease. Find out how it is figured and why.
Found this great article, Make Sure to Do the Math When Selling Your Crafts. It explains different ways to achieve the best bottom line for your arts or crafts
The S corporation is another example of a flow-through type of business entity. S Corporations have limited liability like corporations but taxed as a sole proprietorship. Find out more about how this type of business entity works.
It’s never a bad idea to take a class in your field of arts or crafts to advance your basic skills. Watching the instructor and your peers just may show you a better way to set up your workbench, perform your craft or you may get a referral to a fantastic vender. Here are some suggestions to find local arts / crafts classes.
Long-lived arts / crafts equipment and supplies are subject to depreciation. Depreciation spreads the cost of arts / crafts assets over their useful life. Find out the rudimentary facts of depreciating assets.
One online alternative for arts and crafts businesses is to open a Ruby Lane shop. Monthly fees are not exorbitant. Ruby Lane’s standards for quality of workmanship are very high.
Knowing how to figure the time value of money comes in handy when making business decisions such as figuring out how much you have to save today to open an arts and crafts business tomorrow.
Page one of this series of articles about pop-up retail stores discusses finding the right location and mix of arts and crafts for your pop-up retail shop. Page two discusses pop-up shop management. This article wraps up the topic by covering tips for opening the pop-up such as visual merchandising, laying out your store plan and pop-up retail store pitfalls to avoid.
Business incubators provide arts and crafts workspace, equipment, business services and relevant mentoring to new and emerging businesses for a fraction of the actual cost. Interested in finding out more about entering such a program? This article provides info on finding an incubator in your local area and details incubators located in Toronto, New York City and Kansas City, MO.
Find out the difference between collage, assemblage and papier mache.
Before you pick out a name or order business stationary for your brand new arts or crafts business, you need to form a basic concept. Your preliminary steps to deciding on a concept is three part. Find out more about the prelimary steps to starting an arts or crafts business.
This article explains fixed and mixed costs. Fixed costs remain the same no matter if you make one or one million arts and crafts products. Mixed costs can fluctuate somewhat. Find out more about fixed and mixed costs.
In this article you learn what QuickBooks price levels are and how you can use them to modify standard customer billing. Find out the difference between price levels with a fixed percentage or per item type.
Sole proprietors report their business income or loss using a Schedule C. This article walks you through the expenses section of the Schedule C. Find out more about the difference between commission, contract and professional fees. Learn about wages and the sole proprietor.
Find out more about starting a paper craft business. Paper crafts are more than just origami or paper mache. A relatively inexpensive start-up craft business it includes greeting cards, wallpaper, lampshades and bookbinding.
Want to start an arts or crafts business? This business startup check sheet takes the mystery out of starting your business. It also reminds you of business start-up steps you may have forgotten about.
If you are looking to add some leather jewelry to your arts and crafts business product line, try this easy-to-make wrapped leather bracelet. Wrapped leather bracelets have been popular for quite a few years now, from simple braided and tied to those with a elaborate, decorative clasp system. Recently they've been seen on many celebrity wrists which makes them a good seller for your business if you properly promote them.
If you’re a brand new arts and crafts business owner, you may be wondering if you need to register your business. The answer to this question depends on your individual business and where you operate it. Find out about zoning, business licenses, your Secretary of State and the Internal Revenue Service registration requirements.
Preparing a business plan is very important even if you don't plan on getting outside financing for your arts and crafts business. Writing one makes you focus yourself and alerts you to any potential problems with your business model before you start your business. Find out what you should include when describing your arts and crafts products.
If you want to use polymer clay to make dolls for your arts and crafts business, it's important to have the right tools. This articles gives you information about various polymer clay equipment and supply items. Of special interest is the polymer clay for dollmaking which eliminates the needs to use flesh-colored paints and a source for gorgeous, shiny mohair for your doll's crowning glory - their wig!
copyrights,copyright violations,derivative works, licensing
The first page in the series of articles about pop-up retail shops discusses finding the right location and mix of arts and crafts. This page discusses pop-up retail store management issues such as avoiding a craft mall feel, advertising your pop-up shop and setting pop-up retail store policies.
Successful businesses research the marketplace first and then design products that will sell in that market. Research and a little bit of basic human psychology are good jumping off points for tailoring your craft business to the market.
When jewelry or other items are identified as being gold filled, it means they are made from a hollow tube of usually 14K gold (sometimes 10K is used) that is filled with another metal.
Learn how to set up a Pinterest business account. Pinterest is a virtual online bulletin board that you can use to organize important information about your business and to drive traffic to your arts and crafts and other monetized business websites.
Read Milan Jewelry Design owner, Lena Gott's, advice on how to meeting customer deadlines, self-promotion and handling criticism. Each of these topics affects the non-creative side of running your business. Of the three, in my experience, self-promotion seems to be a major sticking point with artisans.
Google Places is another free way to promote your arts and crafts business. Find out more about Google Places and how to set up your arts and crafts business in Google Places.
Moulage is a fashion design technique where the designer fits or molds the fabric directly on the model or dressmaker dummy.
Want to find out more about 2014 trends to grow your arts and crafts business? Find out the basics of 3D modeling which you can use to make your own raw materials.
The price level option is a handy QuickBooks tool allowing you to change the standard charges you enter into QuickBooks to bill out to your customers. You use them to modify standard customer billing. This option lets you quickly set up automatic price increases and decreases that you can apply to various customers or inventory items.
One of the textile crafts is knitting. One of the masters of knitting is Kaffe Fassett. Find out more about this knitting designer and his two color method of intarsia knitting.
DIY easy instructions to make your own organic or eco-friendly t-shirt. Basic directions are for those with minimal sewing skills.
ArtFire.com is a new online marketplace for artists and crafters. They offer a free 14-day trial. After that, an ArtFire studio costs $12.95 a month with unlimited listings with no fees or commissions. Find out more about ArtFire in a question and answer session with ArtFire's Member Engagement.
After you prepare a payroll checks, your next step is to calculate the amount of employment tax you need to deposit. This article walks you through figuring the employer and employee federal payroll taxes you'll eventually have to deposit with the IRS.
Creating a Faery Figure with Wendy Froud certainly gives the viewer all the basics needed to work in
There are two methods you can use to deduct business vehicle expenses - the actual cost method or standard mileage rate. Some arts/crafts businesses are limited to one or the other. Lacking any limitation, you should pick the method that gives you the highest tax deduction over the life of the vehicle.
In this article you learn what QuickBooks price levels are and how you can use them to modify standard customer billing. Find out the difference between price levels with a fixed percentage or per item type.
After you purchase the raw materials and supplies you need to hand craft goats' milk soap, this article shows you how to mix and cook the soap in your oven.
If you hire employees for your arts and crafts business or incorporate your business, you'll need to find out how to write payroll checks. This article walks you through writing a payroll checks from gross to net wages.
Save money by operating your arts and crafts business out of your home. Here are some tips for finding and organizing space in your home for your arts and crafts business.
Beehive Co-ops offer both arts / crafts business franchise opportunities and select highly qualified arts / crafts busineeses to work with Beehive as wholesalers. Find out about the franchise fees, the advantages and how to get started with Beehive.
If you drive your car in the normal course of running your arts / crafts business you have two methods to choose from when figuring your business mileage tax deduction. This article discusses using the actual cost method.
Find out how to use gross receipts and costs to figure net income. This article also discusses adjusting inventory cost for cost of goods sold expense and depreciating fixed assets.
Use the time value of money to figure out how much a $1 today will be worth in the future. It's also used to evaluate between different business decisions such as buying versus renting equipment. Find out how to do a basic time value calculation.
Part of your responsibilities as an arts and crafts business owner is to have procedures in place to ensure that purchases are properly authorized and reasonable. Find out how to manage the purchasing part of your accounting system.
This article discusses common arts and crafts tangible assets and how to depreciate them. There are basically three type you'll have for your arts and crafts business: office, computer and those special ones for your type of arts and crafts business. You also learn how to use MACRS depreciation to write off the cost of buying these types of assets with practical examples on how to do the calculation.
Rhinestone jewelry is made from inexpensive rock crystal and is set in base metals such as brass, iron or nickel. Rhinestone jewelry has been one of the more popular jewelry looks over the past few years. This is because it's bright and sparkly and a very cost effective alternative to colored gemstones.
Inventory is probably one of the largest costs for your arts and crafts business. This cost is initially classified as a current asset on the balance sheet. As you use it to make arts and crafts items and sell them to customers, the cost moves to the income statement. Find out how to account for your arts and crafts inventory regardless if you are a retailer or manufacturer.
Go through these recommended guidelines for pricing your arts and crafts to sell. Learn how to get into the mind of your customer to figure out the price they are willing to pay. Review the pricing rule of three.
Suggestions for finding an unusual ring mounting that you can set with a gemstone. Thrift store finds with good prongs can be reset with a gemstone of your choice for a gift or inventory items for your arts and crafts business
Find out how to create a Pinterest Board, an important step after you set up your Pinterest business site. This article also discusses how to drag a Pin It button to your web browser Favorites list and talks about the importance of using only outstanding images. Plus, find out some recommendations for free and cheap stock images.
Breakeven point analysis is a great way to figure out how much you need to sell to cover your costs - both fixed and variable. This article explains fixed and variable costs per items and introduces breakeven point analysis.
Wondering what exactly goes into inventory and how to account for it? Find out about inventory items for retail and manufacturing inventory.
DIY instructions on how to organize your accounting records so you can figure out your net income and taxable income. This article discusses using an off-the-shelf accounting software program like QuickBooks or old-schooling it by using spreadsheets.
Looking for a way to store your arts and crafts supplies? Check out these plastic storage suggestions. Ranging in size from 40 gallons to desk-top organizers you'll find the perfect storage solutions for your arts or crafts business.
If you operate as a sole proprietor, partnership, or S-Corporation to be able to write off your arts and crafts expenses, your work has to be regarded as a business rather than a hobby. The IRS has strict criteria as to the definition of a hobby versus a business. However, straight-up corporations are not subject to the IRS’s hobby loss rules. Find out the difference between being a hobby or a business for your tax return and how to account for each.
Once you have the basics down for making hand milled goats' milk soap, it's time to get creative with essential oils, herbs and flowers. This articles gives you eleven popular soap recipes using lavender, jasmine, lemon, sea kelp, ylang ylang and much more!
Find out ways to tailor your arts and crafts marketing plan to customer demand. This article introduces three ways to accomplish this and discusses using social media for research. It's free and can be done without leaving your home!
Another online marketplace for artists and crafters to sell their products online is Artful Home. Unlike Etsy and ArtFire there is a jury process costing $35. However, at Artful Home you have the possibility to not only sell your arts and crafts online but also through their catalog, which is widely distributed. I took a look through the Artful Home website and here's what I found out.