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So here are a few tax tips for the creative business from Craft Inc. Business Planner by Meg Mateo Ilasco

-Keep track of your business expenses: travel, office supplies, shipping costs etc. (and don’t forget about books, gallery visits, magazines or anything else you may use for research).

-If you work from home don’t forget that you can deduct a percentage of your home bills and rent for expenses.  Just make sure that this space is exclusively used for your business, document it by taking some photos of your office space or studio, then measure how much space you use and figure out the percentage based on square footage.

-Come up with a consistent record keeping system and keep every single receipt.

-File receipts by category of expense not by month (if you are ever audited this is how they will want everything organized so its much easier to just do it now).

other helpful links…

Biz Ladies 09: Tax info for small businesses

free accounting software- Outright.com

Outright review by Crafting an MBA

The science of tracking profit by Crafting an MBA

Accounting Spot Online

For 2011 I am vowing to have better book keeping skills.                                                                                                                                                   Good luck everyone!

Katie Lime                                                                                                                                                                                                                                                         Moira K. Lime Jewelry                                                                                                                                                                                                                                   www.moiraklime.com

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Hello Chicago Crafters –

It’s nearly time for the Chicago Craft Mafia’s networking night, The Craft Racket, on Tuesday, January 18.

We hope you’ll join us for an evening of socializing, talking shop, and sharing a snack or two with your fellow crafters at Beans & Bagels on Montrose.

At this Craft Racket Katie Lime of Moira K. Lime Jewelry and Lindsay Obermeyer of LBO Studio / Enjolive will be sharing with you their trade show experiences.  Points covered will include how to prepare for your first wholesale show, why you even want to consider wholesale, and the current trade shows that are relevant for the handmade.

Hope to see you at the Racket!

CRAFT RACKET – Winter, 2011
Tuesday, January 18] from 6 to 9 pm
Beans & Bagels
1812 W. Montrose
Chicago IL
(right under the Montrose stop on the Brown Line)
http://www.beansandbagels.com
Cost: FREE!

Please RSVP by emailing chicagocraftmafia@gmail.com or calling Rebeca/
Blue Buddha at 773.478.3767

Happy Crafting!

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As we’re sure you know, the web is flooded with advice and how-to’s for starting, maintaining and expanding your business.  Here are just a few of our favorites.

Smaller Box

An invaluable resource for everything you ever wanted to know about running your indie business. Topics covered include marketing, publicity, wholesaling, customer service, advertising, business development, web design and so much more.

Etsy’s Seller Handbook

Etsy’s own guide to selling handmade.  Obviously geared toward success on their site, but has valuable information for any seller.

Crafting an MBA

Business school for crafters!

Duct Tape Marketing

Duct Tape Marketing is all about simple, effective, and cheap marketing for your business.  While the book is very useful, the blog is also a fabulous resource!

Entrepreneur

Lots of great information on getting your business started from non-crafty types.

TED

Free and inspirational talks from professionals from all walks of life.  Some are business related and most really just get you inspired and ready to go!

Summit of Awesome

Annual conference aimed at handcrafted business folks with tons of lectures, and workshops that run the gambit of what running a crafty business entails.

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