Do you have a business or a hobby? You may have turned your hobby into a business, you may make sales, but is it REALLY a business? When people talk to me about this issue, they mention taxes, business names, income… but that's not the answer. You can have a business and not have made a dime yet. And you can have a hobby that makes money.
So do you have a business or do you have a hobby?
Listen to the episode (or watch in the video player!) to figure it out!
If you’ve been doing the work and you feel like you’re still not where you want to be financially, sign up here to learn more about Pay Yourself. I’m re-launching it soon, and it’ll walk you through the calculations and figuring you’ve gotta do to help your business get profitable and start regularly paying yourself.
So, not to freak you out or anything, but tax season is coming. And I'm a little overwhelmed by how many people are saying things like, just worked on my taxes for 10 hours. WHAT?! Doing your taxes and tracking your business numbers does NOT need to take a million hours.
In today's episode, I'll talk about exactly how I did my accounting for years while running my business. Download the transcript (using the form at the bottom of this page!) and I'll also send you a link to the video I made about the accounting software I use now and show you how it's saving me tons of time over my previous method of accounting!
[Tweet: “If you're spending hours on your taxes, you're doing it wrong! @TaraSwiger shows you the easier way:”]
Pay Yourself opens soon! Sign up here to be notified when it does!
The list of expense categories from the IRS is here.
Sign up at the bottom of this post to get the FREE transcript with a link to my accounting software video!
Do you feel a little insecure talking to bankers or fancy businessmen about your handmade business because you don’t know all the accounting terms? Want to talk about money and make decisions more comfortably?
Today I’m going to introduce you to five accounting terms so we can talk more about money!
Before we dive into the terminology I want to tell you this – the Starship, my online community for makers and artists, which includes access to all of my classes, including the updated and expanded Pay Yourself and Pricing 101, opens next week. I’m not going to open it to the whole world, only to the people who have signed up to learn more about it.
So if you wanna learn more about it and if it’s for you, sign up here. Because I’ve added new and updated classes to it this year, the price is going up when it opens next time, so if you want in at its current price, you gotta be signed up right here!
I follow my enthusiasm by reading…a lot. And once a month, I share (some of) the books I read last month and the books I intend to read this month. You can join the informal book club by sharing your own list with me on Facebook and find all the posts here.
Hillbilly Elegy, by JD Vance – Oh man. This memoir really hit home. The author grew up just a few miles from where I did, but above that his home situation was similar to mine. The way he places it all in a social and historical context really helped me process it all in a new way. Basically, until I write my memoir you can read JD's and get a good view of my early life.
I'm teaching at a summit for LYS owners with Gwen Bortner in Asheville, NC in April. I think we can still sneak in 1 or 2 more yarn shops, if you wanna learn how to up-level all your systems, admin and marketing. More info here!
I've started a new Friday video series where I talk about the lessons I'm learning while I build my own biz. Find it here!