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@freddysarmiento8287

5 ай бұрын

Alissa, so you started as a sole proprietor. and then switched to an LLC; did you work with printify as a sole proprietor? I'm on the fence, 'should I start as a sole proprietor on Etsy?' and can I work with a provider like Printify as a sole proprietor? Or should I just register an LLC just to avoid any unforeseeable issues? Would really like your help on this. Already been to a CPA, but I need to hear from a business owner.

@AlissaRose

5 ай бұрын

@@freddysarmiento8287 I don't know much about printify. But yes, I started as a sole proprietor and then once I started making thousands I got an LLC (mostly because I was selling glassware and wanted to separate my personal assets from my business assets if someone were to break a glass, cut themselves, and sue... but it was also nice to separate the two because having a separate business bank account made bookkeeping much easier).

@freddysarmiento8287

5 ай бұрын

@@AlissaRose Hey! Alissa! Thank you so much for replying. I appreciate you taking the time to reply back. This really helps. In that case, I think it is worth just to register an LLC. I just felt like I shouldn't do it only because I'm a newbie at this - and wanted to wait to see if this venture fares well for me or not. But I guess business is business: whether you win small or win big.

Thanks! Great info. One thing I know to be true is if you make 12,200 a year or less regardless of whether you are self employed or work for someone you don't have to pay taxes. I am a mom with child support and starting an Etsy store. My child support is not taxed so that income doesn't count, and if my Etsy store makes less than 12,200 a year in profit I can file as a non-filer meaning no taxes are owed. Just a note I wanted to add for anyone out there in my same position.

@saraitomblin9246

3 жыл бұрын

Hi, im 18 and want to start an Etsy shop to get rid of stuff and make a little money. Do i still have to file for taxes? (I dont think I'll make 12,000 Haha)

@shaunware1232

3 жыл бұрын

I want to start an etsy shop as well, and I also don't think I'll make 12,200 lol! Do we have to file still?

@---nj7hl

3 жыл бұрын

@@shaunware1232 I would consult with your Tax Advisor. But if we filed our taxes that's how we got our 1st stimulus check right?

@linram6611

3 жыл бұрын

Does this apply for minors?

@Katie-ki5be

3 жыл бұрын

@@linram6611 I think it applies to everyone.

Thank you! Short and simple and straight to the point, thank you for answering exactly what I was asking.

Honestly, your channel has every little piece of information I need. THANK YOU!

This is the most super helpful information out of everyone. It explains everything you need to know to get your business started. Thank you thank you thank you 😘🙏

Thank you. This was extremely helpful in explaining the one of the liability implications of filing as a sole proprietorship versus an LLC.

I started an Etsy crystal shop & tax season is just around the corner. Great info! Thank you SO MUCH!🙏🏾

I'm surprised how long I had to scroll to find what I was looking for. Great vid. Would like to see more like this.

I love how she tells everyone that she isn't a tax expert and to speak to one. Yet so many comments are asking specific tax and legal questions to the KZreadr. She is basically just telling you her experience cuase yours might be similar.

Great info, keep it up. Learned a lot and subscribed!

great video, one of the only etsy tubers to address this

God, this was the absolute best videos I've come across, thank you !!!

Thank you soooo much! Halfway through the video I already felt so much better :)

@AlissaRose

3 жыл бұрын

You're so welcome! Thanks for watching!

Awesome! Thank you for the info!

This is exactly what i needed, thank you so much !!

@AlissaRose

3 жыл бұрын

julie Arias you’re welcome! Glad to help!

Your video quality is top notch!

Super useful! Thank you

The most helpful video I've found by far!

@AlissaRose

3 жыл бұрын

Hi Lindsey! Happy to help. Thanks for watching!

Thank you for the information.

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This was exactly the info I was looking for. Thank you!

Thank you for all the info

Thanks! That was helpful!

QUICK AND INFORMATIVE AND CLEAR, ALWAYS! You are appreciated, Queen!

This is so helpful, tysm 🙌🏻

@AlissaRose

Жыл бұрын

Happy to hear that, Noa! Thanks for watching :)

This video is so helpful, thank you so much 😊

Hi! Love your vids! I had a quick question; Am I automatically a sole proprietorship when I make my Etsy shop or do I need to fill out other forms?

Thank you it help a lot 🥰

I didnt know you could use quick books for book keeping!! Thanks for this video :)

Hey, I also noticed you do digital products as well. Curious did you set up an LLC for your digital product shops on Etsy and why? Thanks!

Which quickbook option is the best to go? There's a "Self-Employed" option and "Small Business".

Could you please do a digital product only Etsy business version of this video?

thank you!!!!

Thank you!!

Do you have a separate routine for keeping track of your self development purchases outside of quickbooks?

Due to start up cost and research expenses, my business income is lower than my expenses can I still file taxes and get the write offs? I do have a full time job as well so I will have a w2

what if my etsy shop is only carrying digital products? what will be different, do i still need quickbook or what other advice i need to know, for taxes for digital products, your advice will be greatly appreciated.

Helpful. A++

Thank you!!!

What is CFB file from bank?

Thank you

So, I guess I won't have much to write off. I do digital prints of my photography and haven't purchased a new camera or anything. Will it still be worth my time to sell on etsy?

I currently live in Nevada and I'm opening cottage business as LLC through the state. Do you know if I'm allowed to sell on Etsy as well because I have a cottage business and not commercial?

This was extremely informative. If my state requires me to file sales tax on a monthly basis. Does Etsy handle those or do I need to file it?

Thank you thank you thank you

I’m SO THANKFUL that my mom is my accountant. She handled everything for me 😭

Thanks for this video! When you were a sole proprietorship, did you have to register or anything with the state or county? I want to start my etsy soon, only digital for now.

@AlissaRose

4 жыл бұрын

No, I did not, but that same year I applied for my LLC and then filed all my income from my small business my first year selling on Etsy. You're already a business if you intend to make money online if you register for an LLC or if you don't.

@luhvleeladii

4 жыл бұрын

@@AlissaRose Thanks! I've created my shop but only have one item so I have to build it up🙏🏾

So is product liability insurance even necessary if u got a LLC?

That was very helpful thank you

Do you need a vat number to sell if you don't have a business or a national insurance number for UK citizens

How would this work if there are two people involved? How would the pay be distributed if it is not all being disbursed to one person? I actually don't know how the pay would be distributed with one person either.

Can't you just get insurance as a sole proprietor?

Nice video! Do we have to file a paper to become sole proprietor? And do people have to pay quarterly taxes for running an Etsy shop🤔

@AlissaRose

3 жыл бұрын

I'm not a tax professional, so I can only really share what I shared in this video! I would seek out a different video where a tax professional can help you with your questions!

I am trying to start up a jewelry company, and My biggest worry concern is the quarterly tax payments…

@AlissaRose

Жыл бұрын

In NY you pay yearly taxes after the first year of business. Keep track of all your expenses and just learn about it near the end of this year/get an accountant to help you. To be safe, just stash away 30% of whatever you make. Don't let the fear of taxes stop you from doing something that is potentially life changing.

Would a digital business need a EIN?

I’m still a little confused. I’m in Florida, do I need to file for an LLC and for an EIN?

@kali18

4 жыл бұрын

Actually I’m a sole proprietor and I still have a EIN. I don’t believed using a social security for business. But you can file for an One person LLC if you think your busy is sue-able. Hope that helps :) . If you have a digital download business than a Sole Proprietor with an EIN is just fine.

@rosihernandez1210

3 жыл бұрын

@@kali18 so what would you recommend. I really don't know wheito startr. First EIN and after that you register your business?

Ok now im scared cause i live in puerto rico and i have no idea about taxes and stuff cause here the laws are different

@---nj7hl

3 жыл бұрын

I would suggest to reach out for a reputable, good Tax advisor/CPA to answer your tax questions. Also, look up your state website and see what their requirements are in regards to taxes. Buena Suerte!

i’m totally confused! i’m doing a slime shop on etsy and i’m so confused on if i need a licensee, please help!

@lisasmith1798

4 жыл бұрын

Look into a “DBA” it’s cheaper than an llc and sole proprietorship might be a little risky. I would contact your cities department of finance.

Hello, I'm mexican but I have a account in USA and I start to sale in Etsy and use my USA account, I want to know how I paid taxes, if I living in Mexico but my deposits are in USA? I hope u can help me with this

@annyxo8764

2 жыл бұрын

Did you figure it out? How did you do?

So if I sell small ceramic soap dishes I need a LLC?? Since there are humans who love to sue and get free stuff

$500 and you are handing them a quickbooks print out that’s already done for them? Omg, that’s a lot!

For some reason when I click your link, and I hit open shop, nothing happens. Is there a certain browser I need to be on to sign up through your link?

@AlissaRose

3 жыл бұрын

Nope, it should work. You can try asking Etsy support if you can't figure it out.

Idk if you'll see this but I am planning on starting my business on Etsy, just selling stickers and art prints. I have some tech and printers to buy but should I get a Chase business account first so I can make those purchases with that account? Or can I do it with my personal card for now and then get a business account, or will that be too much of a hassle for tax time? I'm not sure what to do.

@lisasmith1798

4 жыл бұрын

Maybe a dba you can still get a business account. Look into it it’s a lot cheaper than an llc

@saraitomblin9246

3 жыл бұрын

@@NostalgiaBoiLofi did you apply for a business license? I want to do this for fun, but this video stressed me out 😭😭 i didn't think I'd have to do taxes or bookkeeping

@saraitomblin9246

3 жыл бұрын

@@NostalgiaBoiLofi at what amount of money do i start filling for taxes?

well, never ever ever mingle you personal expenses with business. Business bank account should not include your personal expenses especially you have LLC.

i love this! But something my wife Is pulling her hair out for is - does she need a business license and does she need a business permit? Also... does anyone know this? - Does she need a TIN? Is that the same thing as a business license?

@AlissaRose

4 жыл бұрын

Tax ID # Q explained at 2:00 min in

Thanks for this video. I’m creating an LLC for my business. I’ll have 2 Etsy shops because the brands will be totally different, a KZread channel under my name, and the LLC will probably have two DBA’s. For your Etsy shop how did you do with your LLC versus your Etsy shop name versus your KZread channel? Is everything the same name as your LLC? Is your banking account name the same as your LLC? If your Etsy shop name is different than your LLC does the LLC or banking name appear anywhere on the shop?

@AlissaRose

6 ай бұрын

It’s all under the same business name

I just created a LLC and EIN, but once switching on Etsy and updated the tax legal info. Etsy says it can’t be verified? Did this happen to you? If yes, what steps did you have to take for Etsy to verify new legal entity?

@AlissaRose

2 жыл бұрын

This did not happen to me no. I would contact Etsy

Hi Alissa thank you for the information. My question is if I open an Etsy shop do I use a personal bank account or do a business account?

@Gigichew

4 жыл бұрын

hi! I personally think business account is just more manageable in the end because you have a credit card and debit card thats separate from your personal stuff. It makes expensing things and categorizing things SO MUCH easier. this is my first year doing expenses and filing for my business and i have to go through 6 personal cards to find ALL my expenses. i wish i just opened up a business account!!

Is the llc a one time payment?

@AlissaRose

2 жыл бұрын

Mine was, yes

Is tin number required?

@AlissaRose

4 жыл бұрын

EIN number? With an LLC your use your EIN ID, as a sole proprietor you use your SSN.

@followmeintofitness5578

3 жыл бұрын

Alissa I have a sole proprietorship and an ein. It’s free to apply for and only takes a few minutes.

i have a question, when u are a minor, do you still need to file for taxes ??

@choko-lea6244

4 жыл бұрын

Yes, if you’re confused about anything I suggest going on Avvo and asking legal questions there, I’m a minor too and having avvo really helps out :)

@Katie-ki5be

3 жыл бұрын

Not if you make less than 12,200 a year in income.

@yadyylolzz

3 жыл бұрын

Katie ohh okay tyyy

@cangel201

3 жыл бұрын

Can Minors Buy or Sell on Etsy? All Etsy account owners must be at least 18 years of age, as stated in Etsy’s Terms of Use. Individuals under the age of 18 are considered minors on Etsy. A minor may not create their own Etsy account, regardless of whether they intend to buy or sell on Etsy. Read our Minors policy. If we believe a minor has accessed an account in violation of our policies, the account may be permanently closed. Minors aged 13-17 Minors between the ages of 13 and 17 are permitted to use Etsy’s services only if they have the appropriate permission and direct supervision of their parent or legal guardian. The account must be registered with the parent or legal guardian’s information. Their parent or legal guardian is responsible for any and all account activity conducted by a minor on the account. If your child is between the ages of 13 and 17 and wishes to use Etsy, the account must meet the following criteria: All financial information on the account must be under the parent or legal guardian’s name. The full name on the account must be the parent or legal guardian’s name. If a minor has a shop, the parent or legal guardian must be listed as the owner on the shop’s About page. Minors may not be listed as a shop owner. The email address on the account must be registered to the parent or legal guardian. Minors under 13 Minors under 13 may not use Etsy under any circumstances. However, a parent or legal guardian may open an account and run it on behalf of the minor.

@yadyylolzz

3 жыл бұрын

@@cangel201 thank you sm!

HUH?

@choko-lea6244

4 жыл бұрын

What are you confused about?