Comments on: What Every Work-from Home Woman Needs to Know about Taxes

By: Kalyn Brooke

Kalyn Brooke — Mon, 13 Feb 2017 14:36:23 +0000

In reply to Cass.

Just finished assembling my taxes yesterday! 🙂 It can be such a chore – but it’s been a little easier when I have everything I’m going to need mapped out in advance.

By: Cass

Cass — Sat, 11 Feb 2017 23:40:08 +0000

Making sure that you have everything together for taxes is super confusing (but so important). This post is really helpful because there are some aspects that I’ve almost overlooked. Thanks for the info!

By: Kalyn Brooke

Kalyn Brooke — Wed, 21 Sep 2016 00:53:07 +0000

In reply to Paige Brown. As you get closer to that time you really will want to consult with a CPA. There are so many things that can differ from state to state so you will need that professional advice to keep you from making costly mistakes!

By: Paige Brown

Paige Brown — Thu, 15 Sep 2016 14:02:08 +0000

I’m in the process of trying to start a freelance styling business. If I begin as a sole proprietor, do I have to pay quarterly taxes if i’m just getting started and will probably make less than $400? Obviously, I will have to eventually, but I just had to ask. I haven’t booked any paying clients yet, i’m just trying to figure out all the legal stuff before I officially go into business. Any advice would be appreciated.

By: Kalyn Brooke

Kalyn Brooke — Mon, 30 May 2016 23:24:27 +0000

In reply to KayLynn Govoni.

YAY for finally getting your art into the world and available for purchase! Here’s some answers to your questions:

1. Your EIN # is considered a Federal Tax ID, so you would just use your EIN whenever a Federal number is required {and to file for taxes sake}.
2. I would start your bookkeeping from January 2016 just to make it easy.
3. Since you’re already starting to earn an income, it’s good to file for a business license as soon as you can. States/Counties/Cities are all different, so you may need a license to operate in all three. A quick Google search should bring up the specific requirements in your area.

Hope that helps and good luck!!

By: KayLynn Govoni

KayLynn Govoni — Sun, 22 May 2016 13:04:49 +0000

Kalyn, Thank you so much for your blogging on this topic. What to do about taxes and pricing my art work are my main focus right now! (It seems every waking moment) I recently retired from teaching after 32 years and am getting back into creating my joy! I have been doing my art work for 30 + years. I participated in a small community art collaborative event in Nov 2015 and had a piece in a juried exhibition in Feb/Mar 2016. I have my first juried art festival memorial weekend. 🙂 I have an EIN #, do I need to file for a federal tax # right away, as well, or can I wait until I start making some money? I have pretty good records thus far- I have spent $2600 on supplies to create inventory( canvases, paper, card stock, paint,frames etc), marketing (bus cards, packaging materials, labels) Equipment (canopy + panels, furniture for festival set up) . I have made about $300 since Nov. 2015- basically just word of mouth and my facebook bus. page. Should I just start for tax purposes as of January 2016 and go from there? At what point do I need to file for a business license if working/creating out of my home, no street sign? Thanks for your help!
I have read many of your blogs this morning and will definitely be book marking your site! Happy blogging!

By the way….great name! 🙂

KayLynn
Seaside Arts by KayLynn
http://www.facebook.com/seasideartsbykaylynn

By: Goodson

Goodson — Tue, 15 Mar 2016 18:21:41 +0000

Excellent info here, I am currently doing some research and found exactly what I was looking for my wife.

By: Kalyn Brooke

Kalyn Brooke — Mon, 07 Mar 2016 15:26:49 +0000

In reply to Sarah. How exciting, Sarah! Unless you really love taxes and paperwork, I would really stress #7 as your business expands. If you can find an affordable, reliable CPA they are well worth the expense. Every hour you don't spend working with the IRS is one hour more you can spend focusing on your business!

By: Sarah

Sarah — Mon, 07 Mar 2016 14:34:24 +0000

Thanks for the great post. I’m a stay-at-home mom with a small freelance business. My kiddos will all be in school next year, so I’m hoping to expand my freelance business. This article helped answer some of my immediate questions.

By: Kalyn Brooke

Kalyn Brooke — Wed, 24 Feb 2016 18:20:00 +0000

In reply to Jennifer.

Hi Jennifer! The number to start worrying about taxes is when you start making $400 or more in gross sales — so no expenses taken out yet. When you reach that number, you will just file a Schedule C with your year end personal taxes, and depending on whether you have a profit or a loss, you’ll pay your taxes to the government then. Definitely keep good records from Day 1 though!

For blogging, you’ll definitely want to start with this post: https://kalynbrooke.com/business-blogging/how-to-start-a-money-making-blog/

Hope that helps!