Don't Overpay Taxes in Your Small Handmade Business

Are you one of the many business owners who find filing your taxes so complicated? That's probably because, as you tried learning about how to do your business taxes, you've found lots of conflicting information online. In this video, handmade business coach Mei Pak debunks five common myths about taxes for online stores to set the record straight and make it easier for small business owners like you! Here, we'll talk about: • Whether or not you owe sales tax as an online store owner • Shipping costs, home office deductions, inventory costs — are these taxable? • What are the legitimate business expenses you can deduct? Running your creative biz shouldn't mean tax season stress. Come watch this video to make tax filing a breeze. ____________ Timestamps 00:00 Introduction, why I made this video 01:07 Myth 1 - I Only Sell Online, So I Don't Owe Sales Tax 02:12 Myth 2 - Shipping Costs Are Taxable Income 02:53 Myth 3 - Home Office Deduction? Not for Online Stores 03:34 Myth 4 - Inventory Costs Don't Count Until I Sell Them 04:15 Myth 5 - I Can Just Deduct Everything as a Business Expense 05:09 Conclusion ____________ Enjoyed this video? ⭐ I teach a FREE workshop that deep dives on How To Create A Profitable Handmade Business Without Keeping Up With Social Media. Sign up here: 📌 https://tinyurl.com/5n7cuxk7 ____________ 🎥 WATCH RELATED VIDEOS: Tax Essentials for Makers Selling Products Online https://youtu.be/A7RdSrLFsFo Is It Time to Quit? The Art of Saying Goodbye https://youtu.be/x5HeoANkyZU Subscribe for more videos like this: http://bit.ly/SubscribeCHC ____________ Join our FREE FACEBOOK group for getting the support you need in your handmade business. Ask the questions that keep you up at night, help each other out, celebrate good things and grow your creative business! 👉 https://www.facebook.com/groups/creativebizmarketing/ ____________ CONNECT WITH ME: 🖥 Website: http://www.creativehiveco.com/ 📷 Instagram: https://www.instagram.com/creativehiveco/ 👤 Facebook: https://www.facebook.com/creativehiveco ✉️ Business Inquiries: mei@creativehiveco.com #etsyshop #handmadebusiness #craftbusiness