a few art shows since august and paid sales tax, do I need to do taxes?

[Anonymous]

I started my own craft business this year and set up tent at local festivals. I charge sales tax and send it in based on my sales after every show. I do have a tax number and license with a registered name. I made under $10,000. Do I need to file taxes and if so how? I have no employees or business expenses. I just set up at local shows and sell out of a tent.

I'm married and a SAHM so my husband claims me as an dependent with no income in previous years. No idea what to add now.
TIA!

[Anonymous]

Add schedule C to your joint return to report your income.

If you were selling things, how can you have no expenses?

[Anonymous]

Anonymous wrote:I started my own craft business this year and set up tent at local festivals. I charge sales tax and send it in based on my sales after every show. I do have a tax number and license with a registered name. I made under $10,000. Do I need to file taxes and if so how? I have no employees or business expenses. I just set up at local shows and sell out of a tent.

I'm married and a SAHM so my husband claims me as an dependent with no income in previous years. No idea what to add now.
TIA!

Yes, you will have to pay Federal, and State income taxes and FICA. Since you are self employed, you will have to pay the employer and employer FICA. Keep track of all your expenses- how can you have no expenses? Does it cost to buy a table at the show? How much have you spent on materials to make the crafts? Did you buy the tent or any of the things you use to display your crafts?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I started my own craft business this year and set up tent at local festivals. I charge sales tax and send it in based on my sales after every show. I do have a tax number and license with a registered name. I made under $10,000. Do I need to file taxes and if so how? I have no employees or business expenses. I just set up at local shows and sell out of a tent.

I'm married and a SAHM so my husband claims me as an dependent with no income in previous years. No idea what to add now.
TIA!

Yes, you will have to pay Federal, and State income taxes and FICA. Since you are self employed, you will have to pay the employer and employer FICA. Keep track of all your expenses- how can you have no expenses? Does it cost to buy a table at the show? How much have you spent on materials to make the crafts? Did you buy the tent or any of the things you use to display your crafts?

She is not an employee or employer...why would she pay FICA?

[Anonymous]

10:38 again. I think PP is thinking of the self-employment tax, which pays into Social Security and Medicare for you (it is the equivalent of FICA for self-employed people).

You'll need to file a Schedule C with your 1040, as well as a Schedule SE for the self-employment tax. With $10,000 in earnings, you should expect to pay something like $1300 in SE tax.

[Anonymous]

You clearly have expenses, OP - the tent, the space, supplies. Those will reduce your taxable income.

[Anonymous]

Anonymous wrote:You clearly have expenses, OP - the tent, the space, supplies. Those will reduce your taxable income.

You should use turbo tax and enter that you are a self-employed employee. It will walk you through the things that you can deduct which includes miles on your vehicle to and from shows, did you print flyers? business cards? Did you sell cash only? Or did you do as a lot of places now and get a credit card reader for your Smart phone? Those are deductible expenses.