Crafts
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Those who sell on Etsy
in Crafts
Do you charge sales tax? How do you determine what you need to charge? I know that Etsy has a feature that calculates this for you, but is this all you need to do or should there be an accountant or tax advisor involved? I'm assuming that any income made from selling on Etsy is taxable so I want to make sure my t's are crossed and i's are dotted if I decide to sell. Thanks!
Re: Those who sell on Etsy
Blog
Hey, I sell on Etsy but I'm also an accountant. You don't need to get a CPA involved; sales tax is pretty straight forward. You only charge sales tax in states where you have nexus. As an Etsy seller, you probably only have nexus in your home state (the exception would be if you go out of state to sell at craft fairs or something, and sometimes not even then).
Check your state's department of revenue website to see what the sales tax rates are and what they apply to. For example, some states don't charge sales tax on clothing, and if you sold clothes, you would be off the hook (just an example). Your state DOR website probably has a "getting started" page for small businesses where you can register for a sales tax ID number and an info packet that will walk you through the whole process. It's not bad; I got set up in about 2 hours when I first got started.
I use the PayPal sales tax feature. It automatically charges sales tax to any sales in my state. My state has various rates for various counties, so I have it set up to charge the max rate and then I look up the buyer's county and refund them the difference. I have read on the Etsy forums that this is a no-no (just from other sellers, not from Etsy admin or DOR agents or anyone with any real authority), but like I said, I'm an accountant and frankly I don't know of a better way to handle it. I feel comfortable with it. I keep track of my sales tax collected and file quarterly returns. So far it has been pretty easy.
If you get stuck, feel free to email me at gotarheels05 at gmail dot com. I don't mind helping.
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