This week we’re taking time out of our busy lives to think about the past, reflect on the present and maybe even create something new for the future! Come back here every Friday for another #ThinkCreateReflect post designed to get your creative juices flowing.
This week, it’s time to face our fears and draw the line at limiting ourselves because of fear. All you need is a piece of paper and your favorite pen!
First, draw a line down the center of your paper (vertically dividing the paper into two halves). On the left side, write down something you’ve been wanting to do but haven’t done it because you’re too afraid. On the right side of the line, write or draw what your life would be like if you overcame that fear.
Do you feel brave enough to share your fears with us? Post a comment here or add them to Twitter and Instagram with the tag #ThinkCreateReflect for all of us to face the fear together!
Welcome to #MakersWednesday, where we claim Hump Day as our time to share our creativity! Here’s a sneak peek behind the curtain at the creative minds of @PatternedApp HQ:
This week, Rebecca’s jazzing up an old outfit by replacing the buttons with something funky and new and adding embroidered details:
What about you – what are YOUR current creations? Share them with us on Instagram or Twitter with the hashtag #MakersWednesday so we can see what you’re making!
With the New Year here, it’s time to start thinking about taxes (we know, we get it, we’re dreading it, too!). It isn’t anyone’s favorite topic (at least we hope not), but if you own a business then you can’t avoid it. We’re here to help you take some of the stress over tax-planning, whether you’re filing once a year or every quarter.
photo credit: Alan Cleaver via photopin cc
One of the best resources for tax information is Etsy itself – they’ve got their sellers’ backs in this department. Of course, we are NOT tax professionals here at Patterned HQ, so please be aware that what we’re offering here is insight but not professional advice. Please consult a tax lawyer or accountant in your local area if you have any specific questions or needs!
Ok, let’s see. Here are some tax tips to make things easier on business owners everywhere:
- File your taxes quarterly. As a business owner, you can’t guarantee or predict what your income and expenses will be like for the year. Sure, you probably have some basic idea but you just never know when you’re going to hit a serious slump or a giant windfall. On top of that, since you don’t have a traditional employer taking taxes out of your paycheck, the IRS doesn’t get your money until April 15, and they’re not overly fond of that. To ease the burden of annual taxes, start paying estimated taxes every quarter. It’s surprisingly easy to set up an account online with the IRS, and if you pay your taxes throughout the year then it makes it more likely that you will owe less (or get a refund) when the annual tax returns come due. According to this useful article from Etsy + Outright, you only have to pay quarterly taxes if you will owe $1,000 or more in taxes this year.
- Keep track of your income and expenses. If you have over $20,000 in sales and 200 or more transactions, you’ll get a 1099-K from PayPal (and/or Etsy) which will report your income. This form also gets sent directly to the IRS, so make sure that your data lines up with theirs when you submit your taxes. Read more about the 1099-K here, and learn more about tracking your business income and expenses here.
- Remember that the IRS isn’t the only entity with its hand out come tax-time. Depending on where you live, you may have to pay business tax, local tax, state tax, sales tax and who knows what else! Get the low-down on the various types of taxes here, and be sure to check with your state’s department of revenue to find out what your local and state tax obligations are; these taxes are due at various times throughout the year so you’ll need to manage those payments regularly, not just in April.
Do you have any tax tips for fellow business owners? Of course we won’t hold you legally responsible for anything you post, but feel free to share your tax lessons in the tips below!
Welcome to another week of #ThinkCreateReflect, where we take time out of our busy lives full of To Dos to do something creative, fun, or introspective. We hope you’ll join us!
This week, take a line from your favorite song and write it in your journal or on a blank sheet of paper. Then build an illustration around that line – you can doodle, add collage-style cutouts, or simply draw freely the images that come to mind when you think about that line or the song as a whole.
We’d love for you to share your creations with us! Snap a photo of your illustration and share it on Twitter or Instagram with the tag #ThinkCreateReflect so we can see it, too!
Welcome to another edition of #ProjectWednesdays, which now has a new name – #MakersWednesday! We’re sharing all the fun creative items we’re making, and we’d love for you to share with us, too!
Here’s a rose necklace our very own Rebecca made using her mad beading skills:
Eat your heart out, Queen of Hearts!
What have you been making with your creative talents? Share them on Instagram and Twitter with the hashtag #MakersWednesday so that all of us here at @PatternedApp can find your creations!