Re: taxes - Paper and Spark creates excel templates, how to documents and intro documents, and has online webinars etc on taxes specifically for creative small businesses. She is also a certified public accountant and has been SO helpful!
@@MeganWangart She has been super helpful for me with where to start, etc. I went to an in person session with her before, too, at a creative small business conference and it was really informative.
I’m thinking of setting up an Etsy shop but totally overlooked how to go about TAXES which I know nothing about 😭. Ughhhhh I dread it but thank u for making this vid, and esp for going over tips for tax deductibles! I’ll be rewatching this multiple times.
Gurl, you were just so generous and fun to watch! I'm impressed you tackled the beast from hell, aka taxes. Always appreciate your openness and you-ness! :)
Thank you so much for making this long video. I really found the questions about the sole proprietor and taxes helpful. I want to start a business and you helped me learn more of that it takes. Keep being awesome. 👍
Thank you for this helpful video tax stuff is so overwhelming and confusing to me 😵💫 everyone says to get an accountant but I work full time and sell art on the side, so it’s challenging to find someone who can do both. I have brass taxes bookmarked for the future their costs don’t seem that bad at all, so I appreciate it! I think when you start it’s good to make your own stuff and then as you grow outsource. I have a printer and cricut for this reason. It wasn’t worth buying such few stickers and I control the quality this way. They don’t take me that much time to make as the machines do most of the work!
i literally love all your videos but this has been wonderfullllll. i am moving next month and finally planning to take the plunge selling physical art in my shop vs just digital assets, and i've been so scared. this video really helped me feel more comfortable and will definitely be something im coming back to watch (probably more than once lol)
THANK YOUUU!! These vids have been so helpful for me as I prep to launch a shop! Thanks for dropping the specifics on brass tax, I felt overwhelmed with all the tax provider options out there! U ROCK
we are BLESSED to have this megan insights video. Thank you! 🫶✨ 26:14 you are so right - my first video was about how hard it was to make the first video LOL 32:39 SO TRUE. Blowing up overnight doesn’t work for everyone. A lot of times, people follow you for a trend but the moment you start sharing other kinds of work - which we should have the freedom to explore - many of them might leave. Slow growth is usually more creatively sustainable & satisfying in the long run 🙂💛
Megan!! This came at such a perfect time for me!! I really really appreciate that you've never held back on unleashing your knowledge to the community!! Love u sm
Lovely advice! A lot to take in, but I learned quite a bit! Thank you for taking the time to put together all this information and talk about it in a friendly way!!
I'm so grateful XD I learned to be an Taxe assistant in germany that took my anxiety from starting a little shop. Now I know what to know about everything and it takes a big piece away 😋
thank you SO much for all the tax recommendations and links here! I have been looking for an accountant before the new year and this is going to be hella helpful. Also love the podcast suggestions too!
If I could give my little humble input, I would say build up as much knowledge on print/manufacturing techniques as you can. Get in touch with your manufacturers and know what it is you're asking for. Whether it be color profiles, diecuts, anything, you will get such better quality if you deepen your knowledge and speak their language. And that will also lead to you unlocking new cool ways of designing stuff you never thought of before.
Leaving the time stamps in the comments too because I know some of you won't look in the description hahah TIME STAMPS★ 0:00 intro 1:33 manufacturing 1:44 why do I manufacture? 2:33 what should you manufacture? 4:24 how do i find manufacturers? 5:26 alibaba 7:50 squarespace! 8:30 proofs + samples 9:06 color profiles 10:45 how much stock to buy 11:53 TAXES D: 12:56 get an accountant!! 13:50 sales tax 14:56 do I need a business license? 15:40 income tax 16:29 how to save money on taxes 16:34 business expenses 19:01 retirement funds + SEP IRA 19:45 S Corps + do I need an LLC? 23:02 social media + marketing 23:14 does making merch hinder creativity? 24:41 how to factor in time for social media 25:50 tips for starting youtube 29:04 do you feel confined to a certain style? 30:32 what about artists who don’t want do youtube? 31:35 dealing with disappointment 32:07 how to grow and stay interesting
Loved all the tax info, i know that will be so helpful for new artists! I didn't register as an s-corp until like 2020 i think? maybe 2019. and i've been self employed for over a decade! but it has been really helpful when it comes to tax season. My accountant did everything for me, and I just have to pay like $125 every year to the state to stay active.
Danny!!! omggg I want to go set one up for the savings but I'm lazy and scared LOL but this is helpful!!! I want someone to do it all the set up and payroll for me haha
Thank you for sharing this information! I began my art business journey this year and was very concerned on the tax-end of things...very much appreciated!
I wish i had this video when i first started my shop 😫 but as i am still working on it, this is still valuable information moving forward. Thanks for putting this together!
Watching this while trying to overhaul my entire writing account and content is so comforting :'^) Thanks for all the great information, tips and energy!
Ah thank you for answering my question! This video was incredibly helpful, I'm sure I'll be going back to it multiple times in the future :) thanks for making the business side of art more easy to understand!!
Amazing video!!!! And thank you for talking about taxes, as a starter business artist I’m also afraid of those, making income projections and getting things moving are just topics I don’t know how to deal with at the moment, I have watch all your previous videos about this topic and this is by far the most complete and informative and for that I thank you 🙏 hope the moving is going well and you feel comfortable to create new art 💖💖💖
Thank you so much for this video, it was exactly the level of detail I'm interested in, eg sometimes I feel like these kinds of videos can be too surface level perhaps if that makes sense!!! I've been trying to get serious about starting an art business for like 2 years now and maybe this will start the momentum I need! Thanks so much for your inspiration!
The only worry I have with Alibaba is you would never know if your products will eventually be on taobao... as there is no copyright or such thing to protect you
MEGAN thanks so much for this!! this came at such a helpful time as I’ve committed to using my small business as a main source of income while I look for a job in the animation industry- ESPECIALLY where to find an accountant, you’re a life saver hahaha. I also definitely relate to your younger business self because omg… I’m so hesitant to spend money on ANYTHING even though it will only be of a benefit to me. Thank you thank you thank you!!
OFC!!! I had SUCH a hard time finding an accountant so I'm glad I could pass this along :) best of luck with the shop + finding a job in the animation industry!! u got this!!
Hi!!! This was literally the most helpful video I think I have watched on these topics -- especially the tax section! I do have a question so hopefully you see this, but how do you do your bookkeeping? Do you manually track everything yourself? It's easier for me to track expenses and stuff on my own now with the help of Quickbooks SE, but I am hoping to open a shop this year (currently on a commission basis) and not sure how tracking sales and things starts to go once you open your online store!! Thank you again for this video! I am a new sub :)
Hi Rachel!! thank you so much!! In terms of bookkeeping, yes I do it all myself! I have a couple different spreadsheets but essentially I track everything that comes in and everything that comes out. I have an income part of the spreadsheet and I mark what the income source was, date the money lands in my account, etc. It's good to just know when these earnings happened and from where they came from, esp if you're doing commissions! You can also have a different kind of spreadsheet with a column that marks whether or not you've received payment from a client. But it's not that different once you open your own store!! Really just what you earn and what you spend :) When you file your taxes at the end of the year they just want to know your income total and not all those little transactions, so all the logging you're doing is really just for your own records. I hope that makes sense?? lmk if you have any other questions haha
As an artist selling stickers and zines for the business license what business activity would I be considered? I feel like none really define what I sell
When starting your business do you ever apply for things like loans or grants or did you have a job helping with the initial expenses and first purchases?
no! I had some savings that helped but when I first started I was only doing handmade items so getting some paint, clay, and varnish was less than 50$. I then used profits I got from that to start investing in more inventory!
I have some original paintings that I'd like to sell. I am thinking about starting an etsy account. Do you think I need an accountant if I'm only selling a couple of pieces? I heard you won't get taxed if you make $5000 or below selling your products. Anywhere thank you for the video. I feel so lost 😧😩.
doing my taxes here in scotland is really easy, only have to do them if i make a set amount of money and while you can hire an accountant, if you are a sole trader self employed its not that complicated to do. and the algorithm is EVIL, so very EVIL
Is there a revenue threshold that you would recommend as the point to get an accountant? I don't make /that/ much from my freelancing work, so I'm wondering if it would leave me with much net profit if I invested in an accountant now. Loved this video and this information though, thank you!! ☺
Hm... for me filing costs around 200-300$ but I've had accountants in the past where it's only been in the 100-200 range to file! It's up to you how much the time/energy saving of having that work outsourced is worth it :) If you're not making that much from your freelance work and filing on your own is a reasonably easy process - then I don't think you need one! I got an accountant because I was sooo confused how to file on my own and I had several income sources and all these expenses that I just didn't know what to do with :)
People always says to hire and accountant, but like, how much does one typically cost? So far I’ve been getting by with using Turbo Tax and Quickbooks (I hate both softwares but it’s better than doing it 100% solo) during tax season and only paying between $20-$150, depending on the promotions. My business is pretty small, and I only make around $8000 in profit. I just doubt an accountant would be at all affordable. I would so love to not deal with the nightmare and frustration of tax season though.
Hm... I think I paid around $250-300 for my taxes to be prepared. I've had accountants in the past where I've only paid $100-150 (they didn't do the best job though LOL) It's really up to you how much more "worth it" an accountant would be. I should also say while it makes my life WAY easier to have someone else file for me - it's still up to me to gather all my receipts/totals so there still is a level of frustration/pain involved. If you have a good system in place with your softwares I'd say it's okay to not have one for now if your business is still small :)
@@MeganWangart thank you!!! That helps a ton! I didn't know the pay range at all, and wasn't sure if it would start at like $500+. Paying a couple hundred dollars is DEFINITELY worth it for me. This tax year was brutal mentally. I have a good system in place with tracking my sales and expenses, it's really just the actual tax filing that's a nightmare for me.
Hey Megan, this video was super super helpful!! I do have a question though. I've had a handmade crochet plushie business for 2 years now and just recently started taking it more seriously. I sell on Etsy and just did my first in person market in July. But I'm finding it hard to grow/scale my business, I'm getting a little discouraged seeing other crocheters on instagram who either understand the algorithm or are just getting lucky? I don't really know what to do from here. I'd love to grow my product list and sell prints, stickers, etc, but my business is still too small right now and I can't figure out a way to keep my social medias engagement up. I post everyday on tikok and instagram, use trending audios, try to stay active in the community and on my story, and make my posts fun with a ton of tags. I'm just not seeing much growth or active followers, if you or anyone else has advice I'd really appreciate it!! My dream is to be a full time artist one day, as I've been an artist for 10 years and just started crocheting 2 years ago, but I'm finding it hard to see a clear path.
Hi! First of all I wanna say I'm so sorry that you're not seeing the progress you want even though you're clearly putting in a lot of effort - it's so incredibly frustrating!! Although there's no perfect answer my best advice would be to take a look at the content/artwork you're posting and see if you can make any changes. (Of course if you don't want to do this it's totally fine - making artwork into a business can be such a confusing thing because it might involve you compromising the work you truly want to create for work that sells) but in my experience the art small business/ crochet business world is pretty oversaturated so it can be SO hard to get started because it's a pretty competitive space... I would ask myself hm, what makes me want to buy a crochet piece from someone - what is it about this person's work, the way they make posts, that interests me? I'd brainstorm ways that I can stand out amongst the crowd and just keep experimenting + developing from there. This might come in the form of crocheting different kinds of characters - or characters that are popular in games + shows that people already love. Fan art is a great way to get started and how I got my first few sales (animal crossing was where I found success haha). Or it can be in the form of your marketing and advertising. Posting different kinds of reels or taking creative photos of your work etc etc. Personally when I first started I wasn't seeing that much traction with my original work until I started making clay earrings + clay pins. I noticed people really liked them because they were unique and appealing! I think I stood out a little and was able to grow from there. I hope this helps!! I know it's super discouraging at times but you got this!!
@@MeganWangart Thank you for the encouragement!! Those are great points. When I look at my business from an outsider's perspective, I do see that there are SO many other plushie crocheters out there for them to choose from, that I get lost in the mix. I write some of my own patterns so some of my things are unique, but I don't think my tiktoks or reels are creative enough to draw people in. I'd love to sell things that are more unique to my shop like prints, stickers, etc, but I don't want to give up crocheting, which I absolutely love. I could sell whatever I want, but my brand has "plush" in the name and I'm not sure how social media would adapt to my accounts being less niche. I'm rambling but I'll try sticking to what I love while also trying something new that I'm really passionate in. It's not about money or numbers at all, but I have such a drive and motivation to create a business that can sustain me in the future, and to have my art all over the world.
Thanks for answering my question! I know its tough to make a living off of your own artistic magic🪄 and want to say that your focus and creative direction has captivated us all. Nothing would make us happier than you being able to pursue those creative aspirations with your business. Thank you for the video 🥺🥺
Re: taxes - Paper and Spark creates excel templates, how to documents and intro documents, and has online webinars etc on taxes specifically for creative small businesses. She is also a certified public accountant and has been SO helpful!
ooo thank you for sharing this! :)
@@MeganWangart She has been super helpful for me with where to start, etc. I went to an in person session with her before, too, at a creative small business conference and it was really informative.
I’m thinking of setting up an Etsy shop but totally overlooked how to go about TAXES which I know nothing about 😭. Ughhhhh I dread it but thank u for making this vid, and esp for going over tips for tax deductibles! I’ll be rewatching this multiple times.
Agreed! Going viral isn’t always a good thing because as a business you want returning customers/followers 😅😊
exactly!!
Your previous video with the same topic is how I actually discovered you! You're such a cool person, glad i found you ❤
Gurl, you were just so generous and fun to watch! I'm impressed you tackled the beast from hell, aka taxes. Always appreciate your openness and you-ness! :)
This is so incredibly helpful!! Thank you for taking the time to put together such a thorough video ❤❤❤
of course!! I'm glad you enjoyed :)
Thank you so much for making this long video. I really found the questions about the sole proprietor and taxes helpful. I want to start a business and you helped me learn more of that it takes. Keep being awesome. 👍
Thank you for this helpful video tax stuff is so overwhelming and confusing to me 😵💫 everyone says to get an accountant but I work full time and sell art on the side, so it’s challenging to find someone who can do both. I have brass taxes bookmarked for the future their costs don’t seem that bad at all, so I appreciate it!
I think when you start it’s good to make your own stuff and then as you grow outsource. I have a printer and cricut for this reason. It wasn’t worth buying such few stickers and I control the quality this way. They don’t take me that much time to make as the machines do most of the work!
i literally love all your videos but this has been wonderfullllll. i am moving next month and finally planning to take the plunge selling physical art in my shop vs just digital assets, and i've been so scared. this video really helped me feel more comfortable and will definitely be something im coming back to watch (probably more than once lol)
thank you so much!!! OMG best of luck with your move + starting physical art products. You got this!!!
THANK YOUUU!! These vids have been so helpful for me as I prep to launch a shop! Thanks for dropping the specifics on brass tax, I felt overwhelmed with all the tax provider options out there! U ROCK
OMGGG best of luck
we are BLESSED to have this megan insights video. Thank you! 🫶✨
26:14 you are so right - my first video was about how hard it was to make the first video LOL
32:39 SO TRUE. Blowing up overnight doesn’t work for everyone. A lot of times, people follow you for a trend but the moment you start sharing other kinds of work - which we should have the freedom to explore - many of them might leave. Slow growth is usually more creatively sustainable & satisfying in the long run 🙂💛
thank you!!!!
Thank you! I had no idea about color profiles ❤❤❤
Thank you for being so transparent!! 😊
Megan!! This came at such a perfect time for me!! I really really appreciate that you've never held back on unleashing your knowledge to the community!! Love u sm
Lovely advice! A lot to take in, but I learned quite a bit! Thank you for taking the time to put together all this information and talk about it in a friendly way!!
thank you!! and yes hahah it's really information dense >__
I'm so grateful XD I learned to be an Taxe assistant in germany that took my anxiety from starting a little shop. Now I know what to know about everything and it takes a big piece away 😋
Laughs in about to study finance and accounting while wanting to start a small art business
thank you SO much for all the tax recommendations and links here! I have been looking for an accountant before the new year and this is going to be hella helpful. Also love the podcast suggestions too!
Thank you so much I have been feeling very lost trying to make my business. This is a great starting point to actually start acting on my plans!😁👍🏽
If I could give my little humble input, I would say build up as much knowledge on print/manufacturing techniques as you can. Get in touch with your manufacturers and know what it is you're asking for. Whether it be color profiles, diecuts, anything, you will get such better quality if you deepen your knowledge and speak their language. And that will also lead to you unlocking new cool ways of designing stuff you never thought of before.
Leaving the time stamps in the comments too because I know some of you won't look in the description hahah
TIME STAMPS★
0:00 intro
1:33 manufacturing
1:44 why do I manufacture?
2:33 what should you manufacture?
4:24 how do i find manufacturers?
5:26 alibaba
7:50 squarespace!
8:30 proofs + samples
9:06 color profiles
10:45 how much stock to buy
11:53 TAXES D:
12:56 get an accountant!!
13:50 sales tax
14:56 do I need a business license?
15:40 income tax
16:29 how to save money on taxes
16:34 business expenses
19:01 retirement funds + SEP IRA
19:45 S Corps + do I need an LLC?
23:02 social media + marketing
23:14 does making merch hinder creativity?
24:41 how to factor in time for social media
25:50 tips for starting youtube
29:04 do you feel confined to a certain style?
30:32 what about artists who don’t want do youtube?
31:35 dealing with disappointment
32:07 how to grow and stay interesting
Hi Megan. We would like to explore a partnership with your channel. Emailed you!
This video made me very optimistic for uploading my first YT video despite the looming recession 😂😂😭 thank you Megan!!
hahahaha YOU GOT THIS!!! another benefit of just starting out is not many people are watching so I find that less scary??
Loved all the tax info, i know that will be so helpful for new artists! I didn't register as an s-corp until like 2020 i think? maybe 2019. and i've been self employed for over a decade! but it has been really helpful when it comes to tax season. My accountant did everything for me, and I just have to pay like $125 every year to the state to stay active.
Danny!!! omggg I want to go set one up for the savings but I'm lazy and scared LOL but this is helpful!!! I want someone to do it all the set up and payroll for me haha
Thank you for sharing this information! I began my art business journey this year and was very concerned on the tax-end of things...very much appreciated!
thank you!! It's super scary but once you do it you realize it's not that bad :) you got this!!
the first video is how I found your channel, you've come so far 😊❤
aww thank you for being here!
So much wisdom and gold nuggets in this post! You've gained my respect and following 🙌🏼! Thank you for sharing. ❤
thank you so much for sharing the info🥺🥺 love your videos so so much!
you are a champ for making this video omg it couldn't have been easy LOL thank u :,)
I wish i had this video when i first started my shop 😫
but as i am still working on it, this is still valuable information moving forward.
Thanks for putting this together!
Watching this while trying to overhaul my entire writing account and content is so comforting :'^)
Thanks for all the great information, tips and energy!
Ah thank you for answering my question! This video was incredibly helpful, I'm sure I'll be going back to it multiple times in the future :) thanks for making the business side of art more easy to understand!!
Amazing video!!!! And thank you for talking about taxes, as a starter business artist I’m also afraid of those, making income projections and getting things moving are just topics I don’t know how to deal with at the moment, I have watch all your previous videos about this topic and this is by far the most complete and informative and for that I thank you 🙏 hope the moving is going well and you feel comfortable to create new art 💖💖💖
Thank you so much for this video, it was exactly the level of detail I'm interested in, eg sometimes I feel like these kinds of videos can be too surface level perhaps if that makes sense!!! I've been trying to get serious about starting an art business for like 2 years now and maybe this will start the momentum I need! Thanks so much for your inspiration!
thank you Megan! I will definitely be coming back to this video when I'm ready for this stage in my art career 😊
finally just a perfect video for this info. Thank you so much this has helped a lot of people!
Any Color you chose will look great! 😊
thank you sm for sharing this information :') I have come back to this and your first q&a a few times as I am figuring out how to start !
The only worry I have with Alibaba is you would never know if your products will eventually be on taobao... as there is no copyright or such thing to protect you
There was so much I didn't know!!! This video was so very helpful!
great video!! american taxes seem like a nightmare though omg
thanks for the video and for answering my question, megan !
Great information, very comprehensive. Thank you so much!
ok I’m finally gonna try this online biz thing soon n I am grateful for ur videos, they make me feel comforted n less anxious hahah
LITERALLY THE THOUGHT OF TAXES MAKES ME NOT WANT TO TAKE THE PLUNGE so thank u for the resources heheh
U GOT THISSSSSS
Thank you for this video Megan! It was super helpful x
MEGAN thanks so much for this!! this came at such a helpful time as I’ve committed to using my small business as a main source of income while I look for a job in the animation industry- ESPECIALLY where to find an accountant, you’re a life saver hahaha. I also definitely relate to your younger business self because omg… I’m so hesitant to spend money on ANYTHING even though it will only be of a benefit to me. Thank you thank you thank you!!
OFC!!! I had SUCH a hard time finding an accountant so I'm glad I could pass this along :) best of luck with the shop + finding a job in the animation industry!! u got this!!
thanks so much!! :’)
Thank you so much for this Megan❤
This is suuuuper informative, thank you!
Oh you’re saving my Life!
Lovely video with so much great advice! Thanks for making it!
Drew!! Thank you so much for watching
This video is amazing! Can you please discuss copyright
Thanks for such an informative video! 👍🏼💚
This is SO helpful!!! Thank you!
MEGAN!!!!!!!!!!!!!!! thank you for this video :D
of course!!! hope it was useful :D
Thank you, Megan!!!
You are very inspiring - thanks!
So helpful!! Thank you!!
Hi!!! This was literally the most helpful video I think I have watched on these topics -- especially the tax section! I do have a question so hopefully you see this, but how do you do your bookkeeping? Do you manually track everything yourself? It's easier for me to track expenses and stuff on my own now with the help of Quickbooks SE, but I am hoping to open a shop this year (currently on a commission basis) and not sure how tracking sales and things starts to go once you open your online store!! Thank you again for this video! I am a new sub :)
Hi Rachel!! thank you so much!!
In terms of bookkeeping, yes I do it all myself! I have a couple different spreadsheets but essentially I track everything that comes in and everything that comes out. I have an income part of the spreadsheet and I mark what the income source was, date the money lands in my account, etc.
It's good to just know when these earnings happened and from where they came from, esp if you're doing commissions! You can also have a different kind of spreadsheet with a column that marks whether or not you've received payment from a client.
But it's not that different once you open your own store!! Really just what you earn and what you spend :) When you file your taxes at the end of the year they just want to know your income total and not all those little transactions, so all the logging you're doing is really just for your own records. I hope that makes sense?? lmk if you have any other questions haha
This was so helpful, thank you!
glad it was helpful!!!
thank you for this!
Very helpful video!
Thank you for this video!!
you're welcome!!! :)
Thanksss for this❤❤❤❤
Thnx for the tips. Please tell me what plant this is to the right. Beautiful 🌿
asparagus fern!
@@MeganWangart Lovely 🥰 thank you so much
this is great! thank you so much :)
thank you for watching!!
@@MeganWangart no problem! your videos motivate me sm, it’s great when I’m trying to draw hahaha
THANK YOU!!! :) :) :)
As an artist selling stickers and zines for the business license what business activity would I be considered? I feel like none really define what I sell
When starting your business do you ever apply for things like loans or grants or did you have a job helping with the initial expenses and first purchases?
no! I had some savings that helped but when I first started I was only doing handmade items so getting some paint, clay, and varnish was less than 50$. I then used profits I got from that to start investing in more inventory!
I have some original paintings that I'd like to sell. I am thinking about starting an etsy account. Do you think I need an accountant if I'm only selling a couple of pieces? I heard you won't get taxed if you make $5000 or below selling your products. Anywhere thank you for the video. I feel so lost 😧😩.
can i deduct the money i pay an accountant?
yes you can!
doing my taxes here in scotland is really easy, only have to do them if i make a set amount of money and while you can hire an accountant, if you are a sole trader self employed its not that complicated to do.
and the algorithm is EVIL, so very EVIL
Is there a revenue threshold that you would recommend as the point to get an accountant? I don't make /that/ much from my freelancing work, so I'm wondering if it would leave me with much net profit if I invested in an accountant now. Loved this video and this information though, thank you!! ☺
Hm... for me filing costs around 200-300$ but I've had accountants in the past where it's only been in the 100-200 range to file! It's up to you how much the time/energy saving of having that work outsourced is worth it :) If you're not making that much from your freelance work and filing on your own is a reasonably easy process - then I don't think you need one!
I got an accountant because I was sooo confused how to file on my own and I had several income sources and all these expenses that I just didn't know what to do with :)
@@MeganWangart Oh okay that's great to know! Thank you for sharing!!
hello my name is Mėta.Į am 11years old, and I want to create a store where I wud sell art prints.Can I create a store with BigCartel?
People always says to hire and accountant, but like, how much does one typically cost? So far I’ve been getting by with using Turbo Tax and Quickbooks (I hate both softwares but it’s better than doing it 100% solo) during tax season and only paying between $20-$150, depending on the promotions. My business is pretty small, and I only make around $8000 in profit. I just doubt an accountant would be at all affordable. I would so love to not deal with the nightmare and frustration of tax season though.
Hm... I think I paid around $250-300 for my taxes to be prepared. I've had accountants in the past where I've only paid $100-150 (they didn't do the best job though LOL)
It's really up to you how much more "worth it" an accountant would be. I should also say while it makes my life WAY easier to have someone else file for me - it's still up to me to gather all my receipts/totals so there still is a level of frustration/pain involved. If you have a good system in place with your softwares I'd say it's okay to not have one for now if your business is still small :)
@@MeganWangart thank you!!! That helps a ton! I didn't know the pay range at all, and wasn't sure if it would start at like $500+. Paying a couple hundred dollars is DEFINITELY worth it for me. This tax year was brutal mentally.
I have a good system in place with tracking my sales and expenses, it's really just the actual tax filing that's a nightmare for me.
❤❤❤❤
"Promo SM" 💐
Hey Megan, this video was super super helpful!! I do have a question though. I've had a handmade crochet plushie business for 2 years now and just recently started taking it more seriously. I sell on Etsy and just did my first in person market in July. But I'm finding it hard to grow/scale my business, I'm getting a little discouraged seeing other crocheters on instagram who either understand the algorithm or are just getting lucky? I don't really know what to do from here. I'd love to grow my product list and sell prints, stickers, etc, but my business is still too small right now and I can't figure out a way to keep my social medias engagement up.
I post everyday on tikok and instagram, use trending audios, try to stay active in the community and on my story, and make my posts fun with a ton of tags. I'm just not seeing much growth or active followers, if you or anyone else has advice I'd really appreciate it!! My dream is to be a full time artist one day, as I've been an artist for 10 years and just started crocheting 2 years ago, but I'm finding it hard to see a clear path.
Hi! First of all I wanna say I'm so sorry that you're not seeing the progress you want even though you're clearly putting in a lot of effort - it's so incredibly frustrating!!
Although there's no perfect answer my best advice would be to take a look at the content/artwork you're posting and see if you can make any changes. (Of course if you don't want to do this it's totally fine - making artwork into a business can be such a confusing thing because it might involve you compromising the work you truly want to create for work that sells) but in my experience the art small business/ crochet business world is pretty oversaturated so it can be SO hard to get started because it's a pretty competitive space...
I would ask myself hm, what makes me want to buy a crochet piece from someone - what is it about this person's work, the way they make posts, that interests me? I'd brainstorm ways that I can stand out amongst the crowd and just keep experimenting + developing from there. This might come in the form of crocheting different kinds of characters - or characters that are popular in games + shows that people already love. Fan art is a great way to get started and how I got my first few sales (animal crossing was where I found success haha). Or it can be in the form of your marketing and advertising. Posting different kinds of reels or taking creative photos of your work etc etc.
Personally when I first started I wasn't seeing that much traction with my original work until I started making clay earrings + clay pins. I noticed people really liked them because they were unique and appealing! I think I stood out a little and was able to grow from there.
I hope this helps!! I know it's super discouraging at times but you got this!!
@@MeganWangart Thank you for the encouragement!! Those are great points. When I look at my business from an outsider's perspective, I do see that there are SO many other plushie crocheters out there for them to choose from, that I get lost in the mix. I write some of my own patterns so some of my things are unique, but I don't think my tiktoks or reels are creative enough to draw people in.
I'd love to sell things that are more unique to my shop like prints, stickers, etc, but I don't want to give up crocheting, which I absolutely love. I could sell whatever I want, but my brand has "plush" in the name and I'm not sure how social media would adapt to my accounts being less niche. I'm rambling but I'll try sticking to what I love while also trying something new that I'm really passionate in. It's not about money or numbers at all, but I have such a drive and motivation to create a business that can sustain me in the future, and to have my art all over the world.
Thanks for answering my question! I know its tough to make a living off of your own artistic magic🪄 and want to say that your focus and creative direction has captivated us all. Nothing would make us happier than you being able to pursue those creative aspirations with your business. Thank you for the video 🥺🥺
Omg this is so sweet!! Thank you so much ⭐️🫶🏼