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Archive for August, 2008

If you are selling your crafts online, whether on eBay, Etsy or anywhere else, you should be reporting your sales to the IRS. The upside of reporting your additional income to the IRS is that you can also write off expenses and as we know, there are many–materials, space in your home that you use specifically for your craft, computer equipment, etc.

It’s not the best idea to run your business online and think the IRS will never catch up to you because you’re just a little guy.

It was recently announced that Paypal will be required to report payments to the IRS each year, starting in 2011. Paypal is one of the easiest shopping carts to use, and if you are selling on eBay or Etsy, I would be really surprised if you aren’t using it.

Under the new legislation, PayPal will be required to report to the IRS the total payment volume received by PayPal customers in the U.S. who:

  1. receive more than $20,000 in payment volume in a single year; AND
  2. receive more than 200 payments in a single year.

Both requirements must be met for Paypal to be required to report payments. And I would think that this is just the beginning.

If you are doing business online, be smart and safe and report your income. And then take the deductions that come along with being in business too!

To read more about these changes, go to https://www.thepaypalblog.com/2008/08/proposed-irs-reporting-requirements-become-law/

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Once again, the Etsy forums have provided the coolest link.

WOW! Look at some of these numbers!!

If you’d like to know who the top etsy sellers are and see what they are selling, go to etsy wiki, top sellers. Thanks to flandersfield photography for providing the link. By the way, that top number is 31,000 sales. That’s something to brag about!

WOW! Look at some of these numbers!!

So now here’s the thing. Don’t go look at the list and get all jealous and like why isn’t that me? What’s so special about them? Well, ok, you can feel that way for a minute or two….I did.

Instead, check out what they are selling, especially the sellers that sell stuff similar to yours. It may just be that these were some of the first sellers on Etsy, but I doubt very much that’s the only reason.

See how these sellers are writing their descriptions, what tags they are using, what special thing they may be doing to draw in the customers. Get ideas of how you can work on your etsy store to build your traffic and sales.

DON’T COPY someone else’s descriptions and titles.

DON’T lift their photography techniques.

DO study what seems to be working for them and figure out how you can do something similar. Whatever you do, make it your very own.

It may take some testing or tweaking, but always finding ways to improve our stores makes us better sellers.

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