Starting A Small Craft Business? Any attorney's or legal advisors out within know how much you
Any attorney's or legal advisors out within know how much you can earn making and selling small crafts before the IRS would in fact consider it a business? I was thinking give or take a few selling some of my hand made crafts to nouns stores, etc, but I want to do it correctly and "by the books". Any suggestions would be greatly appreciated ! Thank You.
Sell item for CA$H only, you can't trace brass sales. If someone pays near a check, then transmit them to write the check directly to you, and not the business. Never write reciepts either.
This is a approach to get around IRS.
I started some small crafts, (hand weaving).
I placed items in local stores contained by tourist areas.
The store takes a commission on sale, & collects taxes.
You could also try flea markets & craft sale.
Just keep track of supplies & sale.
Answers:
I am a crafter myself. The rule is, if you have a "hobby" you can put together monies but it must be reported to the IRS and if you make more than $800/year it become a business.
At least thats my concerned, maybe a attorney will say different, but I don't ponder so.
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