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Friday November 20th 2020-What's on Your Weekend Agenda?

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On 11/20/2020 at 8:55 AM, Ron Dudelston said:

I’m building trivets for my Etsy store.  It’s been a profitable month there. 

 

 

Ron, did you make any of the Cheeseboards for your store? I ask because the fellow that recommended that hardware to me said he sold 27 over the last 60 days or so.

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On 11/23/2020 at 12:13 AM, FlGatorwood said:

For an Etsy store, do you need a license to sell?  Do you have to report your income and pay income taxes and Social Security?  Just trying to figure out how it works.  Thanks.  

No license and as for the income, you don’t have to report it but I do because of my shop volume.  It makes my accountant happy.  It takes awhile for your store to get established and you don’t make a killing but it’s a nice supplement.  I’ve done extremely well in 2020.  Etsy charges you 2.8% for each sale. The only major ripoff is if you sell something off one of their ads.  If a buyer clicks on your product from their ad and buys it, you get hit with 25%.  It’s happened to me once on a $110 flag case.  I have since opted out of their ads.

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