I make crafts..meaning beaded jewelry, keychains and trinkets and such! Just so you know what I am talking about!
2006-12-05 04:52:37 · 5 answers · asked by Spunkygal4eternity 2 in Games & Recreation ➔ Hobbies & Crafts
Yes. If you consider it a business at all, you will need a state ID tax number. Go to your state's web site, under IRS, and find info under "Sales and Use Tax". If you have a retail location, you will also need a business license from your town. If not, you will just need a Sales & Use Tax number.
After you get your number, you be required to file, collect and send in sales tax for your local sales. Internet sales (in most states) are still state exempt.
You will also be required to file your earnings on your federal taxes. Uncle Sam doesn't care how little you make, he still wants some of it.
Better to be safe, than sorry...
By the way, nobody ever really makes enough money. ; )
2006-12-05 05:04:17 · answer #1 · answered by bevabc 3 · 0⤊ 0⤋
if you are making alot of money, or operating from another place , other than your own home yes. if you are operating out of your home and not making alot in a month , i believe that you neednt get a licence at this time. you may have to even get a tax liscence if you are making over a certain amount of money. just check into it through a liscencing place, or the better buisness burua, they can tell you. good luck and by the way i have dione beading like that, it is alot of fun. merry christmas.
2006-12-05 04:57:44 · answer #2 · answered by Anonymous · 0⤊ 0⤋
you will could document your business enterprise with the secretary of states place of work and acquire your business enterprise license interior the path of the city. you will could visit the IRS and get your tax identity variety for cashing and paying workers comp. you may already have an lawyer and he could have the means to advise you on all you elect. you may come back to a decision what style of company you elect to be and have him document that still. Set it up good from the commencing up and avert any issues later.
2016-10-04 22:03:52 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes you do. The moment you make any sales whatsoever you need to report it to the IRS, (State and Federal) even if its at a loss. My husband did some photography for an art show, sold one picture and the tax man came after us.
2006-12-05 05:00:55 · answer #4 · answered by fancyname 6 · 0⤊ 0⤋
It depends on your city ordinances, here in wichita ks it costs 17.00 to have a home bus. Are you charging tax? If you are then you should get a license, if not I wouldn't worry about it until you really get rolling. and making good money not just a living.
2006-12-05 05:04:21 · answer #5 · answered by tom_nearhood 3 · 0⤊ 0⤋