I have been doing stained glass things as a hobby since 2009. I have made some sales but nothing significant. I have never reported it on my taxes. This year I put some stuff in 2 stores in my hometown and started selling a bit through my facebook page.. So far I have made about $400ish this year. This is the most I've ever really made so I has made me start thinking about taxes and stuff. I just registered for a sales tax thing with my state (Texas) and I looked into registering my business and all of that. It would cost me around $400 just to have all of that done...is it necessary? Almost all of what I have made this year has gone back into supplies, travel, and food.
It will take me a while to save up enough to afford an accountant or to register my business, should I stop selling until then?
I just don't know what to do. I love stained glass and selling things is fun but I don't want to get in trouble with the IRS.
This is all confusing and frustrating. I'm not even sure what to ask really....just what the heck do I do?
From what I understand I can either file as a hobby or a business...I'd be doing this regardless of if I made any profit so that makes it a hobby right?
All the articles I read online seem to be geared more towards someone running a store. I have a desk in my laundry room and sell through facebook messages so I don't feel like I relate to those..
I'm not sure if I am making any sense but I would appreciate any advice or help from you guys. This has me stressed and it is affecting my art