Experience with selling what you make?

[deb]

My DH is very talented and can make just about anything he wants to make. He has made many things for his family and us, but he has also traded and sold some as well. He has recently made some connections and it sounds like he might start selling a lot more in the near future!

I handle our finances and I am thrilled to have him sell more of his pieces, but I am also concerned about taxes and accounting for this new income.

Can you recommend any websites or books that are about selling what you make and the accounting/tax side of the business?

I know that if this really gets off the ground we will need to get an accountant, but for right now I just want to educate myself more about these topics.
Thank you!

deb
in wi

[deb]

I updated the title to see if I could get some response. I know there has to be someone out there who has started selling products they make and had to then learn how to deal with the IRS.

Your pearls of wisdom would be most appreciated.

Deb
in wi

[Silvercreek Farmer]

A CPA is your best bet, it will cost you a little, but well worth it to keep the IRS off your back. Ask and shop around, you should be able to find someone good with home based businesses.

[CraftyDiva]

Hope this helps somewhat...........................
http://www.artisthelpnetwork.com/dat...ub+per+web+pro

A google for "Bookeeping for Artists" will get you some more sites which may be of some use.

[PD-Riverman]

Just Do as I did. I went and got a Business Lic.,(I could not Buy Wholesale from most places without a Lic) Open up a Checking account in the Bus. Name-----Everything I buy for the Bus. is ran through that Account, everything I sell is Deposited into that account. I draw a Salary When Needed by writting Myself a Check. I Post all My Bus. Checks on a Ledger then I take all my "Stuff" to My Accountant and For $100 she Does my Taxes. She knows how to keep up with Depreciation on Equipment, How to Deal with Me Charging My Business For Using my Building(Rent) as well as the Electric/phone Bill if it was not seperate and She Keeps up with NEW Tax things that come out. I Sure Don't Want To Deal with that Part of it---LOL.

[MullersLaneFarm]

Quick Books and Turbo Tax

[Alice In TX/MO]

Separate checking account for the business. All expenses and income go through that account only.

Keep track of all your mileage. Keep a mileage log book in the vehicle(s).

Talk to an accountant.