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About Shasta McLaughlin
Expertise
I can answer many questions about the art and craft show industry. I can help with booth setup, advertising and marketing, increasing sales at shows, where to find shows, how to promote an art or craft show, and much more.

Experience
I have always been an artist/craft person since I was a child selling crafts at shows with my mom. I have also promoted several craft shows, and publish a newsletter for artists and crafters.

Publications
EzineArticles.com

Education/Credentials
Salutatorian of my graduating class. Associates degree of Graphic Design.

 
   

You are here:  Experts > Hobbies > Arts/Crafts Business > Arts/Crafts Business > How to figure cost of mosaic item for tax purposes

Arts/Crafts Business - How to figure cost of mosaic item for tax purposes


Expert: Shasta McLaughlin - 11/4/2008

Question
How do you figure the cost to create an item when you are purchasing most of your supplies from yard sales, flea markets, goodwill, etc.? Most of the time you don't get a receipt and it might be a year before you use a particular plate or buttons, etc. for the mosaic project. I now have about five projects completed and want to start trying to sell them.

Answer
Marilyn,

Honestly I don't know what the tax person will say. I suggest carrying a receipt book with you and asking the person at the yard sale if they would sign the receipt.  As far as using a partial plate in projects I would figure out approximately how much of it I had used and include that in the price and calculations of supplies used and written off for the year.

For business purposes you always need a receipt to be able to write off the purchase.

Good luck,

Shasta

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