Etsy Taxes Explained 2022 For Beginners (Self Employed Taxes For Dummies) What Is Tax Deductible?

Рет қаралды 56,075

Күн бұрын

In this video I go over everything I wish I knew when I started my Etsy shop about owning your own small business and filing taxes!
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Пікірлер: 270

@kaylasilver105 Жыл бұрын

Finally a video that explains taxes!! This is the #1 thing that intimidates me when starting an Etsy shop

@CassiyJohnson Жыл бұрын

I hope this was so helpful for you!! Thanks for watching!

@CarrieMilburn Жыл бұрын

Im in this exact situation right now. Just paid over $10k then found out I need to be paying quarterly, so I owe another $2k right away. So frustrating. We really get the shaft as small business owners. You would think the government would give us better tax breaks but nooooo, that's reserved for the billionaires.

@kenzienichole953 Жыл бұрын

You have literally answered almost every question I have spent weeks and weeks researching and agonizing over before opening my shop. I will be starting my Etsy shop tomorrow now that you have eased all my worries! Thank you so much!!!!!

@RoyaBarrette Жыл бұрын

Amazing explanation. Other people make it so complicated and you think there's something wrong with you until someone breaks down everything for you with an excellent natural languages! Thank you I just subscribed!

@moneyc91 2 жыл бұрын

You have a new subscriber! Oh my gosh thank you so much for covering this bit of information, as most people don't! You definitely helped calm my nerves in the tax department. I'd also like to thank you for covering things in a calm step-by-step manner. It is seriously so much more helpful than I can describe!

@CassiyJohnson 2 жыл бұрын

Thanks for subscribing, so glad you are here

@georgerodriguez4470 Жыл бұрын

Thank you for taking the time to explain this. The examples you used were useful as well. Very much appreciated.

@Heidythebaker 2 жыл бұрын

I found you on here yesterday and I literally have watched over 10 videos already and I’m not disappointed thank you so much for all these great information there is no one out there like you! Thank you again🙏🏽

@CassiyJohnson 2 жыл бұрын

Wow you are literally the sweetest!! Glad to have you here on my channel and hope my videos bring you so much value. Thank you so much for the kind words

@Heidythebaker 2 жыл бұрын

@@CassiyJohnson Keep it up here you have a subscriber forever! ♥️

@juliewarford8828 9 ай бұрын

This is the best etsy taxes video I have come across in the last year ! Thank you!!!!!!!

@lin_win7777 Жыл бұрын

Oh my, taxes sound so discouraging, but it is, what it is. Many people forget about taxes and only look at the revenue of other creators who have businesses, and claim to make "6 figures" which indeed half of it is taken by IRS. And then get into some problems, or get into trouble. thank you for making a good explanation. ✨

@meganh8012 Жыл бұрын

Thank you so much for sharing this information Cassiy! This has been my biggest unknown so I am so very grateful for you having shared this with us!

@CassiyJohnson Жыл бұрын

It is a lot to learn without worrying about taxes so I am happy to share my experience

@NancyGlynn 2 жыл бұрын

Very helpful! I also love your Excel spreadsheet I bought and track everything!

@CassiyJohnson 2 жыл бұрын

So glad you love it!! It makes it all so much simpler

@jonathandowney8303 Жыл бұрын

Love this so much! Thank you, Cassiy! I have had my shop open for 18 days and already have 12 sales! Your videos have been a source of guidance and inspiration - SO THANKFUL!

@bboynitro Жыл бұрын

LETS GOO!!! S

@bboynitro Жыл бұрын

❤❤❤❤ I BELIEVE IN YOU

@Dallas0323 Жыл бұрын

Hey Jonathan, just wondering..it's been roughly 3 months since this comment... How is it going now? Are sales booming for you now or slowed down? Hardships, etc.

@Rahulkhanna1 Жыл бұрын

Wow.. that's great.. keep it up the momentum.

@dvanheld 2 жыл бұрын

Just got done listening to your all your videos. They all ROCK!! Thank you!!!

@CassiyJohnson 2 жыл бұрын

Wow thank you so much Dan!!

@estrellaherrera4927 Жыл бұрын

Very helpful Cassiy. Thank you very much!

@miss_bhello7925 2 жыл бұрын

This was very helpful - thank you! I was looking to see more of what it looks like to work with a print on demand business like Printful, Etsy's fees, how to pay taxes and how all that works together, but you ended up informing me of things I wasn't even looking for but are good to know! Thanks for giving me even a little more confidence to try this out since you didn't have experience with these types of taxes before. Taxes is one of the main things I'm intimidated by when it comes to the idea of opening my own shop - so thanks a bundle!

@CassiyJohnson 2 жыл бұрын

So glad this was helpful to you! You can never know everything before getting started. Just get started and figure out things in little baby steps as you go! You are always going to make mistakes and have to learn some lessons but trust me, you will NEVER regret just getting started and taking this leap of faith on yourself. You really can do this, you are capable, you are smart enough, you've got this! Promise

@kelcieerose2757 Жыл бұрын

This is so helpful!!! Can you do a video dumbing it down even further 🤣 Like if you can use TurboTax and what forms would you need to fill out I’m a newer Etsy shop and have done over the $600 but I’m not quite where I want to be and feel like I just need to know more about writing off my costs and how to do so

@miss_bhello7925 Жыл бұрын

@@CassiyJohnson Thanks! ❤

@Mee-yuh 10 ай бұрын

Thank you for being honest I really appreciate the information

@angelitateresa755 2 жыл бұрын

So helpful! Seriously read my mind! Thanks.

@CassiyJohnson 2 жыл бұрын

So glad I could help! This is the video I wish I saw when I first started

@alfredmanzano680 Жыл бұрын

Thank you so much for this knowledge!

@cnags89 Жыл бұрын

Thank you so much for making this!! So helpful! And all your videos really :)

@CassiyJohnson Жыл бұрын

You are so very welcome, thanks for watching my videos

@hannahchavis3027 Жыл бұрын

Thank you! So, so helpful! Subscribed!

@lizahipolito4422 2 жыл бұрын

This was very helpful. Thank you so much!

@CassiyJohnson 2 жыл бұрын

So glad you found it helpful!!

@kroaroorocro 2 жыл бұрын

Great informative video! Thank you!

@CassiyJohnson 2 жыл бұрын

So glad you enjoyed it Amy, thank you!

@debbiewalker273 2 жыл бұрын

Thanks for your tips on taxes, very helpful !

@CassiyJohnson 2 жыл бұрын

Taxes can be quite the bear, so glad I could help!!

@kateshort2368 Жыл бұрын

Thank you! I’m so excited to get started. My store was suspended on the first day, 😢so I’m working on making lots of designs to be ready when they open it. I just hope it’s as smooth as you explained. I’m glad you gave us the heads up on this, it’s definitely helping me panic a little less. I been waiting 5 days already and I’m trying to remind my self you said this would happen, it will get fixed I just need to wait. 😊

@leahe2735 Жыл бұрын

Oh wow, if you don't mind me asking, why was it suspended? I'm scared to open my shop 🙈

@kateshort2368 Жыл бұрын

@@leahe2735 Actually I found out they do it to all new stores to be sure ur not a bot or something. I emailed them, got a auto response it can take 14 days for them to review the issue, but it was opened within 6 days. I made my first sale last Friday and my second on Saturday. I would say do lots of research and create at least 5 products then go for it! I’m so happy I finally did.

@TONY-uu2cu 3 ай бұрын

Thank you for sharing your experience

@ldeez12 Жыл бұрын

I was informed by Etsy today that the $20k and 200 order threshold has been delayed by the IRS until further notice and that the $600 and 200 sale limit is the rule for 2022 taxes!

@EveryDayDabble Жыл бұрын

Thank you! I hadn't thought about deducing my POD printify/printful costs as an expense.

@ronalynroallos1193 Жыл бұрын

Hi Cassy. I would like to start this business. Thank you for your videos.

@kristen5396 29 күн бұрын

I am brand new to Etsy and then I’m also starting to do some pop-up shops and this is very helpful but it’s very confusing. Thank you for sharing tips.

@danielashley98 Жыл бұрын

Excellent video

@asianclayartbypundhariga2993 2 жыл бұрын

Thank you for nice information.helpful

@CassiyJohnson 2 жыл бұрын

Thanks for watching and commenting, so glad it was helpful for you!

@EmreAksoy-kj2ze 4 ай бұрын

Thank you..!

@TVGuy729 Жыл бұрын

Hello Cassiy, fellow Michigander here! I'd say hold back at least 24% for taxes to make sure you have enough at the end of the year. Good info here, but like you, I'd recommend talking to your CPA/Tax Pro for more info.

@maava Жыл бұрын

Hello Cassiy, I enjoy very much your videos and subscription to your channel was obvious to me considering you seem like an honest and caring person. I am new to Etsy and this whole dropshipping businness. However, I do not live in US, I live in Europe and therefore, other rules apply for this concerning Taxes and such. I have found out that you do need to start an LLC or a businness first to put in your VAT-ID which is important due to the taxes and custom fees which the customers will have to deal with. Apparently, in the EU regulations you need to start a businness to receive your VAT-ID and put it in on Printify, so that when customers order something they will not have to pay double VAT, both when they order and when they receive the package which they actually do here. So, maybe you should inform this to people that are living outside of the US.

@lbfaith Жыл бұрын

Well, loved the video. And the non tax thing that struck me most was realizing that you started in 2020 that you said and that you had made 42k for that year. Your first year!? You must’ve known what you were doing. Congrats on that. Whenever I start up, I plan to take the tax percentage of profit each month and put it aside for taxes. That’s something I’ve always been told if I were to be required to fill a 1099.

@CassiyJohnson Жыл бұрын

Yes it's a great idea to save a percentage for taxes every month! I'd say 30% would be a really safe number just to make sure you have enough to cover it!

@LadyEclipse1 Жыл бұрын

@@CassiyJohnson how would you separate your profits? Like splitting the profits for the business side and personal side Most CEOs put themselves on payroll. How would I be able to do that? If that's makes sense

@binu1547 Жыл бұрын

Hi Cassiy, thanks for the great video. I was just wondering about the sales tax involved. Does Printify, or Etsy charge these? Did you need a sales tax exemption certificate? Any advice you can give would greatly be appreciated.

@jeantasevoli4305 Жыл бұрын

Thank you!!!!

@CassiyJohnson Жыл бұрын

I hope this was so helpful! thanks for watching!! ❤️

@BeautifulSam 2 жыл бұрын

Thank you so much for the great info!! Do you think you would ever make a video about starting a LLC or is that more of a state specific thing?

@CassiyJohnson 2 жыл бұрын

Hi Sam and thanks so much for the support! Starting an LLC, you are correct varies wildly state to state so I would recommend looking that up yourself to make sure it applies to where you live!

@BeautifulSam 2 жыл бұрын

@@CassiyJohnson thank you! I know it varies but just curious did it take a while for you to set up?

@CassiyJohnson 2 жыл бұрын

@@BeautifulSam Happy to help! No it was a pretty short process for me, I set it all up online!

@natkay2864 2 жыл бұрын

This was extremely helpful, thank you Cassiy! This definitely helped calm my nerves around taxes, what I should expect, and what to prepare in advance. Can you please explain to me why it benefits me to have an LLC? Again, thank you for such thorough videos and taking the time to answer all of questions via the comments, I can't tell you how much I appreciate this! I'm also from Michigan...Dearborn! Although I no longer live in the state. :)

@CassiyJohnson 2 жыл бұрын

Once a Michigander, always a Michigander lol I am so happy to help, seriously! The only real benefit of having an LLC is that if someone sues you, they are seeing your business and not you. Other than that it really all works pretty much the same. So good idea to get one eventually but its ok to get going without it!

@natkay2864 2 жыл бұрын

@@CassiyJohnson That's right! Michigan is a great state! Ok, that's what I'd heard about LLC's in the past, but I wasn't sure if there was another benefit. I will consider doing that eventually. Thanks!

@elizalorente Жыл бұрын

Great video! How smooth was the transition from sole proprietor to LLC? Did you get temporarily suspended by Etsy? I want to do this, but I am afraid of a temporary suspension.Thanks!

@jaimecoronado5853 Жыл бұрын

Love the information, new subscriber here. So I have a quick question, always get confused. So the sales tax that a buyer pays from an etsy purchase ( says remitted to tax authorities) are the taxes for the state that buyer is from, correct? And etsy automatically pays them to that state, so you'll have to include your own state taxes in the price of the item( collect and remit to your state) or it'll come from your profit, then you'll end up paying double taxes. Am I correct? Thank you in advance.

@boxersfitness Жыл бұрын

Thank you so much for your information. So how does someone find out about taxes to be paid in the UK? How would we do that? Please advise. Thanks

@dadison 3 ай бұрын

2024 here and Etsy does not in fact send 1099’s for $600+ income and it is so annoying.

@katelinr173 Жыл бұрын

This is a great video, thanks! and also I know that Etsy doesb't collect the sales tax when someone buy the product from other country, how is that gonna process? Did someone had been deal with this problem?

@rahuldravid8723 Жыл бұрын

Amazing video. I made 5 orders this month and I can see the net profit of all the orders at the payment page. However, I want to know the net profit of each of the 5 items. How do I do that? Is it mentioned somewhere so I don't have to calculate it manually? I even downloaded the CSV files but it doesn't show the net profit it shows the amount without the deductions.

@sugarsweet8598 Жыл бұрын

What's the reasoning for opening an LLC? And what sales dollar amount would be the tipping point for doing so?

@natalie_burkitt Жыл бұрын

Thanks for a great video, Cassiy 😁 I was just wondering if Etsy collects and remits tax for all the states as I’ve read an article saying it doesn’t for a few states such as New Hampshire and Missouri? 🤷🏻‍♀️

@CassiyJohnson Жыл бұрын

I don't live in either of those states, they do here for my in MI. I'd check in the taxes pages on Etsy to see what it says!

@mikel5317 Жыл бұрын

Hi Cassiy! Do you know if there are ways to sell from a country that is not on Etsy, with a US LCC? Thanks for the video!

@mrsgaskell795 Жыл бұрын

Can you explain what reports you'll need to download from Etsy for taxes and where to find them?

@jeilee9997 Жыл бұрын

would Sample shirt already be included the whole expense in the invoices? so it wouldn't need to be counted twice? thank you

@ArelisStorms 2 жыл бұрын

I love your videos. I also listened to the life hacker family series and started my (mostly) digital shop. Can you please do a video on how to test and manage multiple listings for the same item? A lot of Etsy sellers recommend making at least 4 listings. But how long should you run a test? My shop is getting cluttered and I’m having a hard time keeping track of all the multiple listings and remembering what I’m testing lol….HELP!

@CassiyJohnson 2 жыл бұрын

So glad you got started! I track mine easily because I change the mock-up photo for each of the listings so they do not look the same. I just set the listings to manual renewal and then at the end of the 4 months, if they haven't sold, reevaluate if I need to adjust SEO or pictures etc. Or if I want to just let it stay expired. Sorry I don't have any perfect advice for you!

@ArelisStorms 2 жыл бұрын

@@CassiyJohnson This is great advice! 4 months seems like a fair amount of time to let the listing run.

@anonymousanonymous7770 2 жыл бұрын

Hey I am a Michigander as well!

@CassiyJohnson 2 жыл бұрын

Welcome to the channel fellow Michigangster ;)

@missrebeccadance Жыл бұрын

If your shipping on demand charges you for sales tax, does Etsy charge as well? Do you need to get a tax-exempt status?

@juliat9211 Жыл бұрын

We’re being triple taxed on everything it’s insane. My main income isn’t Etsy. Im getting taxed on that income. I use that remaining money to go into an Etsy shop and am taxed again on that. It’s wild.

@CassiyJohnson Жыл бұрын

Well you only pay taxes on the total profits, so the money you put into your business is not taxed. You just get taxed on the total profits you make just like your regular income!

@juliat9211 Жыл бұрын

Thanks for your reply! Do you know if we have to register the Etsy business formally to be able to claim anything on taxes?

@sandysplannershopandcrafts4847 2 жыл бұрын

Cassiy maybe you already have a video about this: could you, or do you have a video explaining paying printify? Do you pay them right when a customer places an order or when? And if I try to get a business credit card, what $$ amount of limit should I ask for? If I can’t get a credit card, then I’m forced to use my personal account, but if I get a lot of orders close together, will it drain my account to pay Printify? I’m just super confused on the whole money end (not the profits) but how the whole payment process works and what’s the best way to handle it. Thank you!

@CassiyJohnson 2 жыл бұрын

So the way that it works is 1. Someone orders on Etsy 2. The order gets sent to Printify and you pay for the item. Shirt cost plus shipping comes out of your Credit card of Debit card. I would get a business card with cash back with as high of a limit as they will allow but you can always pay it a few times per month if you need to. 3. Etsy pays you the amount the customer paid - Etsy fees. These payments in the beginning are once per week. If you just opened your shop you may also be "in reserves" where they keep part of the payment until the item ships. But after 90 days of your shop being open, you can change this to get paid daily instead. Hope this helps!

@fivecupcakes Жыл бұрын

This explanation really helps. I also agreed with others, you have great info and video content and are calm about it. Thank you for sharing 👍

@natalienakayama3479 Жыл бұрын

@@CassiyJohnson do you or anyone have experience with any certain business cc that you would recommend?

@dianacserra Жыл бұрын

Hi! I live in Uk and I was thinking to sell in USA only with the printer provider from USA. How does that work with taxes?

@DurgaNaagar 10 ай бұрын

what if we not link my debit card to printify and pay when I make my first payment?

@marys.5050 2 жыл бұрын

Thank you Cassiy! I’ve read that there are no taxes in many states for selling digital products. I’m wondering if you have to pay taxes, state or federal, for the sales in your mock-up shop.

@CassiyJohnson 2 жыл бұрын

I have not filled my taxes yet but my understanding is that you don't have to pay SALES tax on most digital products but you still have to pay INCOME taxes each year on the profit that you make off of those digital products. If you have multiple Etsy shops like I do, all of your Etsy sales come combined on one 1099.

@lenocka1100 Жыл бұрын

@@CassiyJohnson Cassiy you also mentioned that To create an LLC for your Etsy shop is a good idea. I have experience in real estate business and using LLC,s all the time for filling. Can I add my LLC later in my new Etsy shop just focus now adding products, or add LLC when I open the shop? How did you do it? Thank you for help in advance!

@kd-b7340 Жыл бұрын

I love your videos, thank you so much. My one request please is that you increase your video volume. You're very soft-spoken AND your videos (across your channel) are set at a much lower volume than KZfaq ads, so it feels like the house is going to collapse from how loud the ads are when they come on. It's jarring and I've not experienced this with similar channels. I can't even imagine if I was wearing earbuds. Your video sound is just too low. Otherwise, lovely and I wish you continued success.

@CassiyJohnson Жыл бұрын

Thanks for the feedback, I've heard this before so I started raising the volume in later videos!

@RayaFlora Жыл бұрын

Found your post interesting to watch. I can't wait to see your new videos soon. Good Luck with the upcoming update. This KZfaq channel is really very informative and effective.

@alwaysreadin163 Жыл бұрын

Do you have to have a business bank account to start Etsy? I started buying supplies in January on my own personal account and didn't realize this as a question until now as I'm planning on opening up over the summer. I thought I could get one next tax season (after next year) and set it up and just go with that one in the future.

@kwiser8 Жыл бұрын

Hi Cassie, is it ok to start an Etsy shop as sole proprietor and just see if it's something I want to do, and maybe change it into an actual business later? I know you pay taxes either way. Just wondering if it's easy to switch over later or not.

@jacquelinebennett Жыл бұрын

Ok just some clarification to ensure I understood: If I use etsy or even facebook market place as a platform in the year 2023 and make over the amount to where a 1099 is sent to me, when I get my 1099 at the beginning of the next year for the 2023 year to file taxes and I see I met the $1,000.00 or surpassed it only then will I be required to make payments during 2024 for that tax season?

@anayasanford3785 Жыл бұрын

Is an llc needed to sell on Etsy?

@bakhshiokhan6084 2 жыл бұрын

Very nice shar

@CassiyJohnson 2 жыл бұрын

Thanks!

@sabrinatodorova3339 Жыл бұрын

Could anybody explain, or at least give me an idea where I can find information about taxes while living in Europe and having an etsy shop?

@RedsStitchery 6 ай бұрын

So if my store made less than $500 I don’t need to worry about it?

@forever5carter 5 ай бұрын

So if you sell digital downloads and not physical products this doesn't apply? They said I wasn't getting a 1099 and I had 2800 sales for digital designs.

@huynhmai6167 Жыл бұрын

Hi Cassidy. Could you tell me when filling tax on Etsy, you mentioned they will send Etsy seller form 1099, so we need to give them social number and personal information, is it safe to do that because I am afraid it will lead to identification crime since we don’t know if the person we submit our social number and personal information to is trustworthy or not.?

@LuKaa316 10 ай бұрын

Does anyone know how can we include Etsy fees as deductible if Etsy doesn't provide invoice for this? How can we prove we paid for these?

@Historical_Goals Жыл бұрын

Hi Cassiy, thank you for all the amazing content that you are creating. I have a questions, that I hope you won't mind helping me out with. So for example, if I buy a shirt from printify for $10 + $4 shipping + etsy fees of say $1.40, so a total expenses are $16.40. Then if I go an sell the product for $20 on etsy, what happens with VAT? Do I need to then pay 20% VAT on the $20, which in this case would mean I am at a loss of $0.40 ($20 selling price - $4 VAT - $16.40 production cost). Basically, my question is can you please explain how does the VAT work?

@CassiyJohnson Жыл бұрын

Hello! So sorry but I don’t sell anything outside of the US so I have never had to deal with VAT before. I’d recommend trying to read up on it in the Etsy forums or see if anyone on YT has some videos about it. Sorry I can’t help more!

@misathoudsanikone7823 2 жыл бұрын

Thank you so much, this is very helpful. Any suggestions on the state's personal properties tax return? I got a letter from the city that I'm registered in. They seem to want us list any physical properties we bought to use for the business. I was surprised to get a letter.

@CassiyJohnson 2 жыл бұрын

No so sorry I have no idea about that! But I do know there are a lot of scammers who send things to people who have LLC's telling them they owe money for this or that. So just make sure to google it to see if its a scam and if not, speak to a tax professional for assistance!

@misathoudsanikone7823 2 жыл бұрын

@@CassiyJohnson it is legitimate, the form I received is actually also posted in our city's website ☺️ I guess if you registered as a business, then you have to report tangible assets which includes laptop. Maybe it is different in other states and cities. Will see if they will tax me on that one laptop lol.

@CassiyJohnson 2 жыл бұрын

@@misathoudsanikone7823 Thank you for sharing, that's good for other people to know as well! I am still learning as well so feel free to comment again and let us know what happens and what state you live in!

@brian8431 Жыл бұрын

See this is one of the things that I always get confused on It's like every piece of government needs to have their hands in our pieces of pie. You got federal then state then city and then there's Nexus you have to worry about and it's all very confusing. This is some great information on here but I'm still a bit confused. I've got my Etsy account and shop up, I've got my printify all done and I've got my creative fabrica all set up, I already had a Canva account with the pro subscription so I think I'm just going to start designing and selling stuff and I can only assume that if there's somebody that wants a part of my money such as a city or state they're going to reach out and let me know. I mean everybody says to contact a tax lawyer and maybe some of you had the money to be able to do that but from the very beginning this was a business model that really wasn't supposed to cost anything to get started with so I think I'm just going to have to take my chances and learn as I go when they start trying to reach in my pockets for money. That's the only way I can think of right now to do it without hiring an expensive tax lawyer. Because they obviously don't just give information out for free. Is that how other people are doing it it sounds like especially in this one comment here but I think in this particular situation you really just didn't know that they wanted to tax your laptop for whatever reason.

@christineb4179 Жыл бұрын

If I made 500 dollars in digital sales last year and am not eligible for an etsy 1099 where am I reporting that income on my taxes? Do I write it under digital assets?

@meaganbarnhurst744 Жыл бұрын

IMPORTANT ABOUT THE 1099K - in December 2022 the IRS delayed the change to $600; for 2022 it is still the old law of over $20,000 and 200 sales

@user-tz3yz4rg8q Жыл бұрын

Great video and very informative! I may have missed this, but due to one of the last comments you made in the video, I assume this information was mostly based on having a proprietorship? I am just wondering as I'm considering an LLC.

@user-tz3yz4rg8q Жыл бұрын

by the way, newly subscribed!

@CassiyJohnson Жыл бұрын

All should still apply if you are an LLC, the only thing that will change I believe is if you ever incorporate, then you will pay slightly less self employment taxes. But I'd talk to a CPA to see what makes the most sense for you based on where you live!

@user-ow3zf1xx2h Жыл бұрын

Thank you so much for all these helpful videos, you are absolutely amazing!!! The only question that I have as right now - If I don't have the resale certificate than Printify will collect the taxes from each purchase, is that right?

@CassiyJohnson Жыл бұрын

No you don’t need a resell certificate while selling on Etsy. As long as the order comes directly from Etsy to Printifys website, then you should pay not sales taxes!

@user-ow3zf1xx2h Жыл бұрын

@@CassiyJohnson Thanks a lot for clarification😃

@OchiiDinUmbraa Жыл бұрын

Im a romanian citizen. If i open an UK Etsy shop and work from Romania, do i need to pay anything to the UK goverment? I know i have to pay the romanian goverment.

@FransceneJK98 7 ай бұрын

If you use printify and Etsy, do you need a reseller permit to charge sales tax from your state? Printify says on their website to upload this permit so they don’t charge you sales tax the items which confuses me cuz doesn’t the customer pay for all that when they purchase on your Etsy store and then printify starts printing ? This confuses me so much that it’s disheartening 😢

@ar.8579 Жыл бұрын

How do we find a tax professional in our area? I’m scared of scams, people who will have my personal information, not knowing if they’re legit? But I’m going to need help and I don’t know where to find it.

@naquishaforstall484 Жыл бұрын

Love the information. Such a big help! I would love to dm you as I have some other questions. & I would really love you to mentor me 😊😅

@CassiyJohnson Жыл бұрын

So glad you enjoyed the video ❤️ so sorry though but I am not offering any 1:1 coaching right now but I hope my free videos can help you!

@metalmanproductions9267 Жыл бұрын

Not a business, just a hobby, not worth the hassle I will be closing my Etsy and I believe many more people will too

@CassiyJohnson Жыл бұрын

Hey if Etsy didn’t work out for you, no worries it isn’t for everybody. But I think pursuing a side hustle is a worth while cause. Since starting my POD and Etsy business in 2020 I’ve sold 700k, made about 210k profit. So in 33 months, if you average that out, I’ve made on average $6,300/month! That’s definitely not just a hobby. Yes it took time to build that business up and a lot of hard work but you can either work hard for yourself or you can work hard for someone else, but you likely are always going to be working hard at something. Best of luck to you in whatever you decide to pursue, but I hope that not succeeding at Etsy doesn’t discourage you from trying something else that might be better for you. There are so many great opportunities out there!

@metalmanproductions9267 Жыл бұрын

@@CassiyJohnson I am happy for your success, But Etsy isn't my job. It is my hobby, for what I do, (blacksmithing and forging) If I were to make 700K I wouldn't be able to move LOL. Here's my point many hobbyist pretty much break close to even; materials, tools, fuel, time, disposables. Here's my example, I made 11,000 last year on Etsy, all the money went into an account. After all was said and done, fees, shipping, sales tax, there was 4900 left in the account at the end of the year. Now the tax I will have to pay for that 11,000 will be right at 3400. Get my drift, many small hobbyist and businesses are just going to quit, just my opinion. I feel like I'm succeeding on Etsy and the IRS is making me fail. Thanks for the reply

@gkquestion436 Жыл бұрын

What is local tax please reply

@vakoormotsadze Жыл бұрын

Great

@qlitlj4404 Жыл бұрын

I have a question... when customers buy products they pay taxes on the purchase and then I need also to pay taxes on the profit? So customer and me we pay taxes 2 times on 1 item?

@CassiyJohnson Жыл бұрын

yes that is exactly how it works however not every customer pays sales tax, just the ones from states that require it.

@haliemendes6032 10 ай бұрын

So if I don’t make over 600 on Etsy I don’t have to pay taxes ?

@himaldesign4879 Жыл бұрын

Hi Are you explaining about sales tax Etsy collect for you or income tax? Do we need to file sales tax to the local area. I am in San Francisco Bay Area.

@CassiyJohnson Жыл бұрын

I am talking about income taxes in this video, Etsy takes care of all of the state taxes for you!

@lanabaker7850 Жыл бұрын

Seems like the expenses are very high. The profit margin is a lot lower than I expected. Then the taxes, seem high as well. I'm no tax expert or sales expert, just seems the Profit and expense figures are very far apart. Maybe I'm not completely understanding, but it seems you need a lot of money to start up and keep running. I'm confused I think. Help please.

@sweetyclayart Жыл бұрын

Hi, I did painting of spongebob, but added some different things, so it's an original idea. But etsy deactivated it. should I do something, can they do anything else like decreasing the amounts of views for whole shop? or they just deactivated so it s enough for them? there are tons of things that contains spongebob, some of them are not modificated. they can stay active. but I modified it, why did they deactivate it, if I want them to look again will they activate it again because it s modificated?

@CassiyJohnson Жыл бұрын

Just because you modified SpongeBob, does not give you the rights to sell it. Even fan drawings of SpongeBob are not permitted for you to sell as he is a trademarked character. So unfortunately you cannot sell anything with pre made characters from shows or movies. The company that made them own the rights to sell them commercially.

@sarahchavez6526 2 жыл бұрын

I'm finding conflicting information on State seller's permits. Does Etsy pay this to each state automatically for you now or do you still need to get a State seller's permit? Thanks so much

@CassiyJohnson 2 жыл бұрын

Etsy handles all of this for you as they are the ones licensed to collect the sales tax! No need for you to apply for all of the state sellers permits.

@sarahchavez6526 2 жыл бұрын

@@CassiyJohnson Awesome, thank you so much for your reply :)

@johnjingleheimershcmit9251 Жыл бұрын

Do you need to set up a business LLC to have the ability to write things off? Can I still write things off if I'm just an individual and not a business?

@CassiyJohnson Жыл бұрын

No you don't, you can write all of those things off as a sole proprietor of your business using your own social security number!

@cookieman2684 Жыл бұрын

What if selling from Europe to the United States? (digital products only) ?

@CassiyJohnson Жыл бұрын

Sorry I am not familiar with the taxes in Europe so I am not sure how it might differ but here in the US, I don't think it would make a difference if you are selling digital or physical products. Just your product costs would be different obviously

@aliwilloughby5419 2 жыл бұрын

Hi Cassiy! I'm struggling trying to figure out how sales tax works with Printify and Etsy. I know that since sales tax is paid on Etsy, I don't also need to pay sales tax to Printify, and that I should submit a resale certificate to Printify in order to not be charged this sales tax. This is where I get stuck though... Do I need to apply for a resale certificate in every state where Printify pays sales tax? Or just in the states that I have a nexus? Do you have any experience with this? Thanks so much!

@CassiyJohnson 2 жыл бұрын

I think there was an Etsy specific form to fill out for the resale certificate that says you just don't have to pay sales tax at all and don't have to apply for anything. Go ahead and message printify and they should be able to point you in the right direction!

@aliwilloughby5419 2 жыл бұрын

@@CassiyJohnson Thanks Cassiy! I messaged Printify and this is what they said: "In February of this year, we launched an automated sales tax exemption for marketplaces such as (Etsy, Ebay) for orders which are shipped within the US. Therefore, Etsy merchants no longer need to fill out the exemption letter. The resale certificate on the other hand is needed in case you are also selling to another sales channel platform aside from Etsy or eBay so that you won't be charged sales tax as the goods that were purchased are intended for reselling". So it sounds like all orders that come through Etsy are automatically not charged sales tax. Hope this is helpful for others who also have this question!

@C2YPTO_STEVIE 2 жыл бұрын

Was just going through this right now and a bit confused. Thank you for posting printify’s response! 👍🏼

@demelzapoldark3035 Жыл бұрын

@@aliwilloughby5419 WOW, THANK you so much for posting the information you received from Printify. Your post was really helpful for me!

@duller9430 Жыл бұрын

Anyone else get some old Minecraft KZfaq video vibes from that intro music

@anagorman2559 Жыл бұрын

I have a small question. I hope you will answer. 🙏🏻 I was just going to start my POD business but printify ask for my business name but I dont have an LLC. Do I need one right now? Thank you so much!

@CassiyJohnson Жыл бұрын

No you don't need one yet at all, you just give them the name of your Etsy shop so they can put it on your packages! Congrats on getting started

@anagorman2559 Жыл бұрын

@@CassiyJohnson Thank you very much!

@MiraclesByAnait 2 жыл бұрын

I wish there was a step by step video on how to file online

@CassiyJohnson 2 жыл бұрын

I pay a CPA, I'd recommend doing that probably your first year and then it will make a lot more sense when you go to file yourself the next year!

@brian8431 Жыл бұрын

Yeah but again you must have had the money to be able to pay a CPA, what are we supposed to do when we don't have any money to put out for something like that? I mean I was lucky enough to have a dollar for the creative fabrica 30-day trial let alone paying a CPA to do everything.

@animefan817 2 жыл бұрын

do I have to pay taxes if i live outside the US?

@CassiyJohnson 2 жыл бұрын

I apologize I don't know anything about taxes in other countries, I'm sure you could check Etsy's website or google for your specific country. Sorry I don't have an answer for you but I would assume if you live in a country that charges income taxes, then you would.

@Xtreme1978 Жыл бұрын

Hi, thanks for your videos.... How this apply to persons to live in another country?

@CassiyJohnson Жыл бұрын

So sorry every country is different so I can’t help much with that!

@Xtreme1978 Жыл бұрын

@@CassiyJohnson My sister in law it lives in EEUU. can I use her address?

@LoveKathleen13 Жыл бұрын

Do you have any recommendations for finding a cpa?

@CassiyJohnson Жыл бұрын

No so sorry I don't, I called around to a few in my area until I found one that I wanted to work with!

@laurarox80 2 жыл бұрын

I'm also from Mi. How do you do/set up for sales tax with printify?

@CassiyJohnson 2 жыл бұрын

Hello fellow Michigander!! You just need to complete the reseller certificate for selling on Etsy since Etsy collects the sales tax for you. Try this article and see if it gives you the answer or go to the taxes section on Printify and message them if you need help! help.printify.com/hc/en-us/articles/4483616795281

@laurarox80 2 жыл бұрын

@@CassiyJohnson Thanks, very helpful! I was previously selling digital only, but I can't wait to incorporate some of their products and see what happens.