Let's face it - Etsy's reporting stinks.
They definitely don't make it easy to find out how much income you made or expenses you incurred. Every report is different and contains different information.
As a former accountant this drives me crazy! So I set out to make it easier for all you non-accountants out there.
I will show you:
- how to find the income and expense amount you need to give your CPA, tax preparer or whoever does your taxes
- what deductions you can use in your small business so you can save money
- a breakdown of all the different Etsy fees and where to find them
- what paperwork you need to save and for how long
- spreadsheets that you can use to track monthly expenses
- bonus material on making sure your business is legit (banking, business licenses, sales tax, etc)
Disclaimer: This information is not meant to be a substitute for your own local CPA. I am not your CPA and I do not know your particular financial situation. I encourage you to find your own tax preparer but this information contained within will help you get the paperwork you need and also keep track of your own finances.