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  #51  
Old 06-11-2009, 05:27 PM
Buddy'sParents Buddy'sParents is offline
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Just listed a few new items.

MagneticallyYours on Etsy - Magnetically Yours

Today is the last day for the Chaz special. Ends Midnight my time.
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  #52  
Old 06-11-2009, 06:44 PM
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Up to two sales now, only 3rd day of new shop. Though waiting for this 2nd buyer to buy so I can get more supplies!!! LOL
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  #53  
Old 06-11-2009, 08:12 PM
Buddy'sParents Buddy'sParents is offline
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That's great, Mer!

I forgot to remind everyone about my June giveaway- place an order this month and your name is put in a box for a drawing to be held on the 30th for a free magnetic wrap. Only one sale so far, so the odds are quite good!
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  #54  
Old 06-11-2009, 09:26 PM
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Ugh! Thank god summer is coming. I can finally finish the leash holders! Then hopefully will add to my etsy shop.
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  #55  
Old 06-11-2009, 09:27 PM
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I started a sale today too. Next buyer gets FREE SHIPPING, and everyone else is getting 15% off!
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  #56  
Old 06-14-2009, 08:21 AM
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I'm seriously thinking about getting involved with the etsy world. I was wondering if people make enough money selling their products to actually supplement their income enough to make it worth their time or if it's just more of a hobby. And if you do make enough to make it worth your time, do you have to pay taxes or report the money you make?
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  #57  
Old 06-14-2009, 08:27 AM
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Nancy, you are supposed to report it on your income tax. It usually takes awhile to build a business up to the point that it's a significant supplement to your income, but even when it's still small, it's money and you're getting better and better at what you do as you go.
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  #58  
Old 06-14-2009, 08:31 AM
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Quote:
Originally Posted by nancy2394 View Post
And if you do make enough to make it worth your time, do you have to pay taxes or report the money you make?
Legally, yes. Any money you make during the year needs to be reported. Along the same lines though, all your expenses can be deducted. I believe you need to file a schedule C.

Now, whether anyone actually does it or not is another story.
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  #59  
Old 06-14-2009, 12:48 PM
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I've had a small business tax ID for several years and report my income; of course, right now I am spending WAY more than I'm making, so I have reported a loss for two years. My mom (who had a home business - daycare - for many years) told me this year, I need to report some kind of a gain, even if it means not claiming all my expenses... otherwise your business is not a business, it is considered a hobby.
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  #60  
Old 06-17-2009, 10:59 PM
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My shop is featured in a blog giveaway. simply read this blog post and follow the directions to be entered to win

byhand.me - Blog Giveaway for Hannas Hands
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