Tax & Bookkeeping Basics You Need to Know When You Open an Etsy Shop and Start an Etsy Business

Most people don't realize that when they open an Etsy shop, they are in essence starting a business. What does starting a business entail? In this video I will walk you through business registration, state tax basics, federal tax basics, and the best way to get started with your bookkeeping.

This video is for informational purposes only and does not constitute tax or accounting advice.

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0:00  Etsy Taxes & Bookkeeping Master Class
0:10  About Me
2:08  Hobby or Business?
4:47  Business Formation
6:05  State Registration
7:18  IRS Registration
9:00  Sales Tax on Etsy
10:25  Other Sales Tax Issues
11:45  Schedule C
13:27  Estimated Taxes
16:45  Open Separate Business Financial Accounts
18:00  Bookkeeping
18:58  Etsy Bookkeeping Spreadsheet
20:28  Hire a Bookkeeper

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