Etsy Data for your Taxes


Visit our Etsy shop: GoTo
Go To Great Panes, Kathryn Maloney ©2012-2016
This post is copyrighted–you do not have permission to repost this content elsewhere but you are welcome to link to it if you’d like to share the information.

For your Etsy Income:

Download a spreadsheet of your Etsy transactions including both the item prices and shipping collected.

1. Go to: Your shop–here’s a link to the sold page for easy reference:

https://www.etsy.com/your/orders/sold

2. In the left side bar under “Shop settings”, click Options.

3. In the top-center of the screen click the tab for Download Data.

4. Scroll down to the “Orders” section and select Orders to download a file of all your transactions, then select the time frame you want to download.

Hot tip: If you want to download the entire year in one file,
just select the year (don’t select a month).

5. Click the teal button Download CSV and save to your computer.

Remember: the shipping you collect from your customers is part of your income. (You deduct postage & supply expenses on the schedule C.)

6. If you take payments through either Etsy’s Direct Checkout or Etsy’s Integrated Paypal you can also download your fees paid on this page–select Direct Checkout Payments from the drop down menu.

Etsy Fees and Postage Costs:

What did you pay to Etsy in listing, advertising & transaction fees? (See #6 above for Etsy’s Direct Checkout Fees.) How much postage did you purchase through Etsy? You’ll find that on your monthly bills–I print out the first page of each bill to keep for my income tax records. (The IRS doesn’t love spreadsheets as evidence since they can be altered, and the Etsy bill page is more like receipt.)

1. Go to the Your Etsy Bill > Monthly Statements page:

https://www.etsy.com/your/bill/statements

2. Open each month for a breakdown of

  • Listing fees
  • Transaction fees
  • Renew fees
  • Renew Expired fees
  • Renew Sold fees
  • Search Ads fees
  • Promoted Listings fees and your
  • Postage for Shipping labels

3. Create a new spreadsheet, with columns and rows for each month and type of fee, copy and paste the info from each month’s bill into it so it’s all in one place for the year.

Use Auto Sum To Add It Up Quickly

Now that you’ve got all that info saved to your computer/printed out, what do you do with it? Add it up!

Auto-sum: Adding Up Your Totals Using the Free Program “Open Office” (if you need help with Excel, there’s a link to that here too):

Adding Up Your Totals

and then put it on your taxes… Help with what goes where on your income taxes:

Income Tax Help for Small Businesses:
Schedule C links to the IRS.gov site

Here’s hoping that helps you get things in order quickly! 🙂

Go To Great Panes, Kathryn Maloney ©2012-2016
This post is copyrighted–you do not have permission to repost this content elsewhere but you are welcome to link to it if you’d like to share the information.

Etsy Forums Survey

Etsy admin have put up a survey about the forums–when doing the survey please also give this forum thread a bump so more people see it & get to offer their opinions:

https://www.etsy.com/teams/7722/discussions/discuss/14746837

I almost missed the announcement because I no longer find the forums as dynamic & enticing as they once were & so rarely visit.

It would be great if they returned the Techniques & Materials, (real) Business Topics, Etc and Site Help sections to the main forums so I hope these are things that are on the table for the next version!

Etsy Teams Have New Landing Pages!

Well they do if your team captain is on the ball like Old Time Etsy‘s team captain–thanks Heather from janedean:

janedean

janedean's Marie Antoinette Charm Bracelet--so beautiful!

Look what a lovely landing page she’s created for Etsy’s team for folks who have been a member of Etsy since at least 2008 (buyers & sellers both welcome!)–the page will be ever changing I’m sure:

Old Time Etsy's New Landing Page
Click here to see the full view of the beautiful
Old Time Etsy Team’s New Landing Page

All the kinks aren’t worked out yet–like:

  • you can only curate one of these pages per Etsy account even if you are captain of more than one team,
  • I don’t think the embed feature does the page justice (see how the embed feature looks below),
  • there’s no link to the page from within your team’s regular pages and
  • the fact that the nice big name of the team at the top of the page only links back to itself instead of leading folks to the team’s about/home page… So be sure to be a swifty like our team cap’ and add a link to your team home page at the top of the description!

The embed tool produces this–not so exciting a representation as the page itself, but still not bad:

Read more about the team landing pages and how to get one for your team in the Captains’ Quarters team. Here’s hoping this tool will help us all promote our teams better!

Etsy records for your Sales Tax Returns


Visit our Etsy shop: GoToSupplies
Go To Great Panes, Kathryn Maloney ©2014
This post is copyrighted–you do not have permission to repost this content elsewhere but you are welcome to link to it if you’d like to share the information.

I’ve seen quite a few posts lately from folks looking to download their Etsy records to add up what they collected to file their sales tax return–also helpful for getting your info for your income taxes.

If you need help knowing whether or not you should be collecting sales tax for your in-state transactions, see here: Sales Tax Links to Official State Web Sites

Here’s how to retrieve and add up your sales tax:

Download Your Records

1. Go To Your Shop
(Direct link if you’re logged in: https://www.etsy.com/your/orders/sold)

2. Just below the last order click the link to the download page:
“Download a CSV file with the details for each order.”

3. Page down to Orders, choose the download type and time frame for the CSV you want to download.

To find the sales tax column:

If you choose to download the Order Items CSV, sales tax is column J.
If you choose to download the Order CSV, sales tax is column U.

Add Up the Sales Tax Collected

If you have just one rate for the entire state you can use auto-sum to add them up in a flash. Here’s how:

Autosum: Adding Up Your Totals

If you have just different rates based on the ship-to address, it’s not that easy…

Etsy doesn’t list the sales tax rates for the transactions in the download, so if your state has different rates based on the ship-to address (don’t know if it does? see the Sales Tax Links to Official State Web Sites link at the top of the post), you’ll probably be best off keeping a running list of in-state transactions and all the details you need to properly report your sales tax throughout the year. We do this in an Excel file just like the CSV that you can download from Etsy.

If you didn’t do that for the previous sales tax period, you can still use the Etsy download, it’s just a lot more work to research which zip code was in which jurisdiction. You’ll be able to sort the file so all your in-state transactions are grouped together, which will help you find the orders you need to remit sales tax on, then do the math for the rate based on the buyer’s ship-to address.

And when you’re done, you’ll have a model to build your new document for tracking transactions as they come in to make next year easier. 🙂

Don’t have a spreadsheet program like Excel? The Autosum link above will also hook you up with a free downloadable program that will allow you to use spreadsheets.


Visit our Etsy shop: GoTo
Go To Great Panes, Kathryn Maloney ©2014
This post is copyrighted–you do not have permission to repost this content elsewhere but you are welcome to link to it if you’d like to share the information.

bloke

So Many Friends! {A Little Thank You Treasury}

When you’re feeling “blue”,
you can count on friends to make you feel “bright and cheery”
all over again!
Thanks for restoring my “sterling” rating!

Thanks so much for the support the past few weeks both in forum threads & in our shop–here’s a few of your items to show my appreciation. I am sure there are others I have missed, thanks to you all!

Thanks everyone!

Between shipping orders and working custom requests it took me this long to have the time to put this together!

There are still a few promo-priced items in my shop including pinback buttons and a little note cards for Halloween featuring my little bat!

gem flowers WM one button 100 hanbd cropped 300 WM

Thanks again for your support,
Kathy

Etsy Feedback Now Called Reviews& Other Feedback Changes


Etsy’s got a new feedback system and it includes a name change–Feedback is now “Reviews”. Forgive me if I still call it feedback for a while….

The Good News

Delay before buyers can leave feedback.
Buyers must wait until there is the possibility that the item should have arrived before they can leave feedback. (Etsy’s using the processing times feature in the listing & pre-set time frames for shipping–see below–to determine when a buyer can begin to leave feedback.) So no more negs when only 2 hours or 2 days have passed since the purchase.

No more “Kiss & Make Up”
Finally did away with the unprofessional name for the feedback-change feature. Now we have 60 days to edit our feedback (from the day we’re allowed to leave it) if we choose.

Year-Old-Plus Feedback Won’t Count
Feedback that’s older than a year will still be there to read, but those few mistakes you made when starting up won’t haunt you for the rest of your Etsy-life. Once feedback is a year old, it won’t effect your star ranking percentage. Personally I think two years would have been a better way to go, but I think it’s still a plus.

No Blank Ratings
Blank neutrals or negatives driving you nuts? If someone experienced something less than positive, hopefully they’ll comment on what it was so other buyers will be helped by the feedback. It’ll help the sellers too–how do we know what needs improving if you don’t tell us? (Of course we’d prefer you send us a private message about any issues first, if possible.)

The Bad News

No chance to respond to bad feedback
Sellers have been asking to have a way to publicaly respond to bad feedback for as long as I can remember, but it’s not part of the overhaul. And even worse…:

Just like Ebay…
Sellers can no longer rate buyers. It’s rare, but sometimes a seller needs to warn others about a bad buyer, for example those who attempt to get goods for free by threatening negative feedback. Now, a seller can’t even lower a buyer’s feedback rating by showing they got a neg when they are trying to harm the seller. It’s a sad day.

“Real Names”
Instead of using Etsy IDs to go along with the feedback a buyer has left, they will be using the “profile name”–whatever you put in the public profile on your account, which can only be changed through admin approval and admin action.

For many newer users that means their real name given during registration will be searchable to associate it with items purchased. Sorry gift givers & “private” item buyers! Here’s hoping your spouse or future employer doesn’t find you in that web search for your name. (What happened to that privacy protection concept that had them remove the visibility of buyer feedback in the first place? At least using just the Etsy ID there’d be some personal info buffer.)

Left feedback already? No case for you!
Once a buyer has left feedback, they can’t open a case against a seller. Sure, as a seller that sounds great, but as a buyer not so much. If someone runs into a bad seller it will be a shame if they leave feedback only to find that Etsy won’t have their back within the system Etsy set up to handle transaction issues. So if you didn’t get your item after two months and the seller has been non-responsive, don’t leave feedback yet. Open your case first…

Delay before buyers can leave feedback.
That was under good news, wasn’t it? Yes, but it might also be tricky–if a buyer recieves their goods two days before Etsy decides they are allowed to leave feedback and they try to leave feedback, they might be a little frustrated. It also means they will have to remember to come back within the next 62 days to leave the feedback. Etsy does plan to send feedback reminder emails that should help, but they don’t say when that will be starting up (didn’t sound like any time soon).

No more “Kiss & Make Up”
That was under good news too, wasn’t it? Yes, but what I haven’t seen mentioned in the forums or help page is what happens when an edit goes bad… Like when a seller tries to come to a compromise with a buyer who then edits their feedback to to make it worse simply because of the request to resolve the issue creates a negative reaction.

Or how about the concept that now buyers have an extra 60 days to change their feedback if they first put feedback in on one of the last few days of the normal feedback window, giving them 4 months to hold that feedback over your head while you don’t have the ability to leave feedback for them at all?

Sellers Lose Feedback Numbers
Feedback received as a buyer is not a part of the equation (since there’s no new feedback for buyers that is to be expected), but the ratings, being based only on the last year, will show a smaller number of overall feedback received. Sort of disappointing when you’ve earned the appreciation of hundreds or thousands of buyers over many years. Sorry Etsy Old Timers! (Been on Etsy since 2008? Join us: Old Time Etsy Team

Some More Details

How do I leave feedback on Etsy now?
Go to Your Account at the top of the page, then to Purchases.

Buyers will see a list of their purchases and have the opportunity to leave feedback on items that are past Etsy’s estimated delivery time and haven’t yet received feedback.

Sellers longer can leave feedback on a transaction.

Stars
Rating system is now based on 5 stars.

Parts of Stars
There will be half stars and ratings will be rounded up to meet the next half star.

Order Processing Time
Etsy will consider seller processing time to be 5 days to get a package into the mail service’s hands, unless the a seller uses Etsy’s processing times feature to specify a longer or shorter time frame or marks an item shipped sooner than 5 days.

Shipping Time
How long Etsy allots for the postal service to deliver your goods:
Within your country = 5 days
International packages = 15 days

Going Forward
The changes will only effect feedback going forward, not on past feedback so no buyer names will be connected to feedback already left.

More on Etsy about the topic:

The announcement thread:
https://www.etsy.com/teams/7716/announcements/discuss/12890737

and blog post:
https://www.etsy.com/blog/news/2013/5-stars-for-etsys-new-review-system

The discussion thread:
https://www.etsy.com/teams/7722/discussions/discuss/12890729

An odd page that covers the basics of what Reviews are and how they work–but without the normal page headers all the other Etsy pages have:
https://www.etsy.com/reviews

FAQs for the new Reviews
https://www.etsy.com/help/article/102

Here’s hoping it goes better than many expect!

bloke

Etsy labels? Heads Up!

This is a good news / bad news post–be sure to read to the end.

Good news:

US sellers who aren’t using Direct Checkout can now use Etsy labels! I’m very excited to give these a try for our First Class International packages.

As fun as the stamps are using our current method for printing First Class International labels and getting the customs form submitted online (for free), I’ll also be pleased to have a smoother process for mailing our international Etsy orders.

Bad news:

If you’ve been using Etsy’s labels and haven’t been paying attention, you might be in for an unfortunate surprise.

When you print the label, sometimes it is not printing the label you see on the screen–sometimes it prints the previous label again… for some sellers these packages are already in the mail.

It’s been happening for at least a week now. One admin suggested the conflict is with FireFox, another post said FireFox and Windows 7. How ever it goes–be sure to check your label before mailing your package!

See a few posts on the topic here:

Scary Shipping label Problem – 6 Packages Sent to One Customer

On page 2 of the thread above Mocahete shares what’s been working to avoid this for them. More threads on the topic:

Serious Problems with Etsy Shipping Labels

Problem with shipping labels

Here’s hoping your packages all get to their intended destination without coming back to you first!

Quarterly Taxes??? Help for understanding what they are & when you need to pay them


Visit our Etsy shop: GoToSupplies
Go To Great Panes, Kathryn Maloney ©2012
This post is copyrighted–you do not have permission to repost this content elsewhere but you are welcome to link to it if you’d like to share the information.

So it seems the Etsy “Taxes, Typewriters, Teams!” email and the “Wrapping Your Head Around Quarterly Estimated Taxes” blog post have folks wondering what they are supposed to be doing tax-wise and plenty seem confused.

While the vast majority of sole proprietors might have to pay quarterly estimated income taxes as mentioned in Etsy’s blog post, that is not true of the vast majority of Etsy sellers since most don’t sell enough to owe enough in income taxes to file quarterly. I’m afraid that wording was scare-tactic-y, and has made many worry.

To help allay your fears, here’s the basic run down for US sellers…

None of this info is meant to be a replacement for a good small business accountant if you need one, just a way to lead you to the info you can get free from official sources.

Federal:

Income Tax & Self-Employment Tax:
Most US sellers are responsible for filing tax returns on their sales to the federal government. If you are a sole proprietor you file the schedule C with your personal income taxes at the end of the year to report your self-employment earnings (help with the schedule C here).

Quarterly Estimated Taxes: This is what the Etsy email & blog was referring to–it is just a way to pay you self-employment tax (Social Security & Medicare Taxes) as you go instead of paying it all at the end of the year. You only need to pay quarterly taxes to the federal government if you expect to owe $1,000 or more in income taxes at the end of the year.

Estimated taxes are like when you work for someone else & there’s tax withheld from your pay–for self-employed individuals there’s no one doing the withholding, so there’s estimated tax instead.

Most small sellers don’t need to worry about estimated taxes–if you didn’t owe anywhere near $1,000 last year and business is about the same, you’re probably fine but you should keep track of your books so you can estimate when you’ll need to start paying quarterly taxes.

To see this info on the IRS’ website, and to see the way you calculate tax owed before you do your end-of-year income taxes to see if you need to file quarterly taxes, see this IRS page:

Estimated Taxes on the IRS website
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Estimated-Taxes
“Who Must Pay Estimated Tax” section tells you about the $1,000 number.

“How To Figure Estimated Tax” section tells you the math behind your income & expenses that determines how much you’ll need to pay/shows you if you pass the $1,000 mark–as you see on that page, you use the IRS Form 1040-ES to do that math.

State:

Income Tax:
Most US sellers are responsible for filing income tax returns on their sales to their state government (in states with income tax). Some states will require you to file more often than once a year so be sure to check directly with your state for how it works.

Sales tax:
Most US sellers (whether a business or hobby / individual seller) need to file sales tax returns with their state government for the sales tax due in-state transactions. (More on sales tax below.)

Please note:
A few states also have business taxes, property taxes or other taxes but the rules are very different from state to state so I recommend checking out your state’s website and/or calling them for more details about your responsibilities (see the link below for your state’s official website).

Sales tax is a state-based tax and is totally separate from income tax. It usually requires the seller to register first, then collect tax from the buyer & remit it to the state on sales tax returns to be filed according to the schedule the state gives you (some monthly, some quarterly, some only once a year).

Generally, sales tax returns need to be filed whether or not you’ve had any sales.

If you haven’t registered with your state yet, this post will help you find the info you need directly from your state:

US: Sales Tax & Business Registration
Links to Official Government Websites
If you need more help, I can often be found in this Etsy forum thread–just post there and I’ll respond best I can:

http://www.etsy.com/teams/7722/business-topics/discuss/9799713
 

I hope that clears a few things up and de-stresses a lot of sellers. 🙂


Visit our Etsy shop: GoTo
Go To Great Panes, Kathryn Maloney ©2012
This post is copyrighted–you do not have permission to repost this content elsewhere but you are welcome to link to it if you’d like to share the information.

bloke

Etsy Policy Update–Prohibited Items Changes August 2012


Go To Great Panes, Kathryn Maloney ©2012
This post is copyrighted–you do not have permission to repost this content elsewhere but you are welcome to link to it if you’d like to share the information.

We’ve got some Etsy News–policy update of the prohibited items list as of August 8th! Changes to a few different topics but one will change many, many listings on Etsy…

I’ve wondered if Etsy would ever make policy rules to protect buyers from the health claims seen in listings, and this policy change covers that.

Some may be upset by the policy that requires the removal of medical claims in item listings (for example in bath & body items claiming to treat medical conditions), but I think that it will protect buyers & keep some sellers away from the risk of breaking US federal regulations which require scientific proof before you can claim that anything will help someone medically.

Etsy’s blog post about the policy update:

Changes to the Prohibited Items List

Several admin posts clarifying the changes can be found in the forums in these threads if you need more info or would like to discuss the topic:

Site Help: Prohibited items

Business Topics: Anti Aging & Acne Treatment Removal

What are the changes?

July 11, 2012 version August 8, 2012 version
Prohibited items

Every Etsy seller is responsible for following the laws that apply to you, your shop and your items, including any shipping restrictions for your items.

There are some types of items that we don’t allow in Etsy’s marketplace, even if they are legal and otherwise meet Etsy’s selling criteria. Some things just aren’t in the spirit of Etsy. The following types of items may not be listed on Etsy:

Prohibited items

Every Etsy seller is responsible for following the laws that apply to you, your shop and your items, including any shipping restrictions for your items.

There are some types of items that we don’t allow in Etsy’s marketplace, even if they are legal and otherwise meet Etsy’s selling criteria. Some things just aren’t in the spirit of Etsy. The following types of items may not be listed on Etsy:

  • Alcohol
  • Alcohol
  • Tobacco
  • Tobacco and other smokeable products
  • Drugs, drug-like substances, drug paraphernalia
  • Drugs, medical drug claims about an item, drug paraphernalia
  • Live animals, illegal animal products
  • Live animals, illegal animal products
  • (none)
  • Human remains or body parts (excluding hair and teeth)
  • Pornography
  • Pornography
  • Firearms and/or weapons
  • Firearms and/or weapons
  • (none)
  • Hazardous materials (for example: flammable, explosive, corrosive, poisonous, etc.)
  • Recalled items
  • Recalled items
  • Real estate
  • Real estate
  • Motor vehicles (automobiles, motorcycles, boats, etc.)
  • Motor vehicles (for example: automobiles, motorcycles, boats, travel trailers, etc.)
  • Items or listings that promote, support or glorify hatred toward or otherwise demean people based upon: race, ethnicity, religion, gender, gender identity, disability, or sexual orientation; including items or content that promote organizations with such views
  • Items or listings that promote, support or glorify hatred toward or otherwise demean people based upon: race, ethnicity, religion, gender, gender identity, disability, or sexual orientation; including items or content that promote organizations with such views
  • Items or listings that promote or support illegal activity or instruct others to engage in illegal activity
  • Items or listings that promote or support illegal activity or instruct others to engage in illegal activity
  • Items or listings that promote, support or glorify acts of violence or harm towards self or others
  • Items or listings that promote, support or glorify acts of violence or harm towards self or others
  • Even beyond these standards, Etsy members are responsible for making important moral or ethical decisions regarding what they buy and sell on Etsy.

    We reserve the right to remove listings that we determine are not within the spirit of Etsy. Such listings will be removed from the site, and the member’s selling privileges may be suspended and/or terminated. If Etsy removes an item listing for violating Etsy policy, the seller is still obligated to pay the listing fee for that item. Suspended or terminated members remain obligated to pay Etsy for all unpaid fees per our Terms of Use.

    Even beyond these standards, Etsy members are responsible for making important moral or ethical decisions regarding what they buy and sell on Etsy.

    We reserve the right to remove listings that we determine are not within the spirit of Etsy. Such listings will be removed from the site, and the member’s selling privileges may be suspended and/or terminated. If Etsy removes an item listing for violating Etsy policy, the seller is still obligated to pay the listing fee for that item. Suspended or terminated members remain obligated to pay Etsy for all unpaid fees per our Terms of Use.

    July 11, 2012 version August 8, 2012 version

    Thanks to Rob White & stellaloella for responding to folk’s questions about the new policies.

    Go To Great Panes, Kathryn Maloney ©2012
    This post is copyrighted–you do not have permission to repost this content elsewhere but you are welcome to link to it if you’d like to share the information.

    Etsy Down?



    Go To Great Panes, Kathryn Maloney ©2012
    All posts are copyrighted–you do not have permission to repost this content elsewhere but you are welcome to link to it if you’d like to share the information.

    Wondering what is going on with Etsy when the site goes down? Here’s how you find out:

    Etsy Status:

    WordPress Site and Twitter