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Thanks very helpful (:

Thank you I’m so glad I ran into your channel. I’m in the process of getting my shop ready and these videos are so informative.

Very informative. Thank you

Thank you for the info . Very informative and it has helped me move a little quicker. Ima medical asst./ pathology coordinator in dermatology and I want to create a skin care business . && Ima researcher like you 😅😅 . Thank you so much this is telling me to just do it stop trying to get everything perfect Thank you I needed this. New subscriber here. ❤

So, if I'm doing dropshipping and I get paid thru PayPal or Stripe I report all that on the form Schedule C tax Form?

Thank you for this video! It answered EVERY question I had after contemplating whether I needed these products and which ones I needed! I'm off to buy my bundle and add-on, and I look forward to joining your Facebook group!

Your videos have literally saved me. All of this felt so overwhelming and you explain things in a way that is so straightforward and easy to understand. I know it takes a lot of time to create these videos and it does not go unnoticed. Your COGS spreadsheet was such a valuable purchase for me. Thank you.

Thank you Janet! There should be thousands of comments here because this is very useful and very easy to follow! I think taxes just scare people 🤷‍♂️ we've got your Etsy spreadsheet in our cart - which I believe should be another deduction, no? 🤔 We have a lot invested in materials and supplies and equipment and our profit this year is upside down but we're still happy to produce awesome products on Etsy! We found a great tax professional this year and he's doing amendments for my last guy who screwed everything up... I talked to him about our tiny business and he was very keen to help us prepare for some great deductions next year! Looking forward to it!

Janet, do these work in google sheets or OpenOffice? Microsoft Office is another expense I don't need. Thanks! And thank you for your hard work!

I am professional accountant and wanna start book keeping so i will be thankful for giving me some useful tips 🙏

Hi mam , thanks for such informative video

Why leave blank e thru j on tax form

Thank you for this! You made it easy!❤

Welp, I already did my personal taxes. So there's that lol

Do you have one for amz sellers? Ty.

Thank you for the info. I am in the process of relaunching my business, but with a different product. When I started this a few years ago, I did not have much success. I had my friends but outside of that it was hard. I accounted for the fact that my products were more made to order which is difficult to sell, but also it was more for special holidays/occasions which is hard to sell with too. Then, it cost a lot to make the tutus or costumes and used a lot of time. Launching a new product with a shortened business name I believe will help. Shopify and TikTok are great for getting your products out there as well since Etsy is so saturated. lol my new product has such a higher demand and marketing ability too. I think it’ll be More successful. Your video is helping to organize things too

Hi Janet, I already register for sales tax in my California state last year, but I just start sell on Etsy this year, no sales from last year, should I fill sec C form 1040 for submit this year tax?

Can you also include in the videos the answer to the following question , if for example your business is in the state of Michigan and other states start buying from your online store which is located in the state of Michigan, when or if you have to pay taxes to other states because buyers are buying on your online store from other states ! Or when does nexus also come into play from outside of state purchases ! These questions will really help me and others like me who are really confused and frustrated and just ready to give up on e-commerce! I spoke to a company and they want to charge me $400 dollars for sales tax license per state per location, imagine how many counties are in the USA! Your my only hope , my last hope .

You think you can also do a video on the states nexus it's extremely confusing, 100,000 and 200 transactions

You think you can do a video on states and digital goods taxes, like ebooks or subscriptions , it's very confusing after the supreme Court ruling south Dakota vs Wayfair? It will help a lot of us who are extremely confused .

The video was awesome and explains so much , thankyou !

Does this take the place of having to have an accountant?

Hello! Is there an updated video on the new Etsy CSV Imports? I've tried to import my Etsy CVS but the numbers and column names don't line up or match the file

Too blurry to really see what was going on. Information is good.

It was my understanding that the online marketplace is responsible for remitting sales tax to each state... is that not correct? -so we shouldnt have to track sales tax for each state? maybe thats wrong

😅 'Promo SM'

You are a lifesaver!! One question - I bought a ton of supplies to just have fun making crafts at the beginning of the year before I planned to actually sell them and set up as a business. Since I was just buying supplies to have on-hand, I didn't save the receipts. How do I denote that in my raw inventory? I know in one video you said to estimate what you paid, but do you have to do anything separate for the items you don't have receipts for come tax season?

Also another question 😂 as a sole proprietor do I need to register my online retail business with the state or the IRS?

Hello Thank you so much for sharing this much needed information!!!! I was wondering when filing jointly will our info on 1040 all be in the same form? Or will he have a 1040 and I have a separate 1040.

Quick question: I am a dropshipper and do have physical inventory. do i have to mention inventory at the beginning of the year?

Okay now I am confused. If I have an e-commerce POD business that I use 5 different sites to sell on, do I need to purchase 5 different spreadsheets from you? Or, could I not "save as" the entire workbook for each site I sell on and import *csv files into each from the sites reporting? Sorry, very confused as to why I would need to buy specifically built workbooks (which you don't offer but 1 of the sites I actually sell on) if I were to buy the sellers spreadsheet workbook. Wouldn't I own the right to use it and save as I see fit? Not trying to be obtuse or confrontational, just genuinely confused.

Your video was great. However, there is still something I do not understand. I would appreciate it if you could help me. I am currently a partner in a multimember LLC established in Florida. Our company is physically located outside the US and we sell online through Amazon and Shopify. The Amazon platform has collected sales taxes in all states for us since our first sale and paid them to those states for us, but shopify has not started collecting sales tax because we still have not reached enough sales by following the threshold values according to the states. For this reason, since we did not have any nexus, we only received a certificate of registration from the state of Florida where we are established. In this context; In the state where we are established, we generated a total revenue of 2000 dollars in a total of 5 sales. For 1700 dollars, which constitutes 4 of this, amazon itself collected approximately 50 dollars of sales tax and paid it to the state on our behalf. Since we had 1 sale of 300 dollars from Shopify,we did not collect sales tax because we were below the threshold value. Now how will I enter the values of "gross sales", "exempt sales", "taxable amount" and "tax due" when filling out the online form during the sales tax filling.

Hi Janet, would the Vendor under Postage & Shipping Expenses be USPS or Etsy? Also, any packaging expenses such as boxes, business cards, kraft paper, etc. would go under that tab as well correct? Thank you!

Hi Janet, do we need to manually enter shipping amounts when we sold items with free shipping?

So if it's $600. Or more than you have file 1099. So a $13. Interest income not needed ?

Question what if I didn't keep track of end of year inventory for last year? I have an inventory tracking system that displays total goods cost. 2023 i didn't keep track of sales but on 2024 I am every sale with profits and revenue. 2023 i started on october so does it matter

do you have a new Shopify spreedsheet for 2023?

Your videos are great, Janet! I'm uncertain about Etsy's policy on what is accepted regarding emails with customers, especially since they recently stopped allowing Aweber and others. Do you know how to set up an email system with Etsy customers that is allowed now?

@paperandspark how do we enter materials we purchased to make prototypes and samples?

I make Jewelry. Can i deduct cost of beads, scissors, cord, charms, etc ?

I started my business in September 2023 but put the date as of January 2023 and no data was entered until July. Is that ok?

Hello! Please give me some advice. I am trying to file my taxes on turbo, and I do not see a 1040 form. They're asking about 1099... do I fill out that part? What is a 1099 vs 1040 form? I'm just so confused. I have an LLC but it's an independent LLC, and I did not make more than 500 as I started in November of 2023. Can you help me on any advice?

Great Video. I have question on COGS pertaining to using manufactured aluminum to produce products . I received product as 10 foot form from my vendor, cut it down to 6 foot to send to an end user. My manager stated the reaminng 4 foot material is considered scrap, since the Bill of materials extracted it in a printed production order. I question this, saying the remaining 4 foot material can be in fact, used for a future 4 foot order (Which we do sell). What is the proper way to leave the reaminng 4 foot material in or out our inventory ?

I have used Chat GPT to generate my listing content and it turned out not only informative but also funny. And I like that you can have it regenerate for a different take on the message.

Love coming back to this video year after year! You make it so easy to follow and work along each step by step!

I plan on using payhip to create my website to sell digital products.Does your spreadsheet tools support this

Im creating a business on payhip selling digital products.will this work for me.

Done and done! It gets easier year after year. Thank you for keeping this video up, it's so helpful! ;)