Selling Jewelry Isn’t All Fun and Games

When I started creating and selling jewelry I was like a lot of people who started making and selling jewelry as a hobby. I just made and made and made the jewelry. After all, that was the fun part! I sold it to family and friends and even wholesale to an artisan jewelry shop in North Carolina. It was fun, fun, fun!  Then my father-in-law the accountant started asking what I was doing.

I told him that I had sold at the shop in North Carolina, sold some privately and sold some at craft fairs. He asked me about taxes. Taxes? I’d never thought about taxes! Of course I’d have to pay them!  Ugh!  I had never thought about record keeping.

That’s when I realized that selling jewelry isn’t all fun and games.  While I enjoy making and selling unique handcrafted jewelry I now know that I have to set aside some time for record keeping. I also have to be careful to save all my receipts associated with sales and money received. I now pay my state taxes online, which is very easy. And, I’ve also realized that if I schedule time every other week on my calendar to make sure I keep up with my paperwork it doesn’t get overwhelming. Now creating and selling jewelry is fun again!