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8 Cake Business Tax Tips

8 Cake Business Tax Tips

It’s tax season!* ⁣ (Pssst make sure to follow this account for more cake business and bakery business tips.)⁣🗣️I don’t know who needs to hear this, but now (right now, right NOW) is a good time to start working on your business taxes (USA). ⁣ You have until mid-April! Don’t wait to get everything in order. Do it now while the professionals still have availability in their schedules. ⁣Here are some tips to help you be tax prepared :⁣⁣✅Do your homework! Bookmark IRS.gov and review the business sections (Publication 583 provides basic tax information for people who have a small business.)⁣⁣✅Get a folder ready to help you keep your paperwork organized⁣⁣✅Use a notebook to make any notes as you go through this process⁣⁣✅Gather your business receipts. These are all of the tools, gadgets, and supplies you purchased to operate your business. Including all web hosting fees, your internet, etc.⁣⁣✅Gather all of your sales receipts. If someone paid you to bake something, add it.⁣⁣✅Itemize your deductions – this is where your receipts come in. The IRS has categories for different types of deductions. For example, if you use your car for deliveries and networking events, you can deduct your mileage and/or…

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Charge for Cake Tastings: Yes or No?

Charge for Cake Tastings: Yes or No?

Charge for Cake Tastings to Not? One of the most common struggles cake business owners face is whether or not they should charge for tastings. As a cake business owner, this is one thing that I have struggled with over the years and I have gone between charging and not charging,and back again, for various reasons. This is the business of baking and you will find there is no one perfect solution. Charging for cake tastings is something that you will need to experiment with so you can find out which method works best for you and your business. Below you will find three common options when managing cake tastings for your business. Charging for Cake Tastings Option A – Charging for a cake consultation and tasting. This scenario works well because you are compensating for the cost, time, and effort you are putting into preparing for the tasting. Free Cake Tastings are not Always the Better Option Option B – Not charging for the tasting. This method will keep your calendar booked because who doesn’t love free cake?! The problem with offering free consultations is that you will see many people that are just going around the cake circuit…

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How to Start a Home-Based Bakery

How to Start a Home-Based Bakery

This article is no longer available.  Please visit the link below for step-by-step instructions on how to start a cake or baking business. Starting Your Baking Business online course is now open! Self-paced training that walks you through the steps to build the foundation for your business. https://www.sweetsuccessacademy.com Share this:PinterestTwitterFacebookMoreRedditTumblrLike this:Like Loading…

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