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Business Side of things


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Hey there! 


So as far as selling your candles and running the business side of everything, is there a link to anything that can teach me or illustrate the best way to keep books for taxes and  the ins and outs to how taxes/insurance works in this industry?



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I use SM3 for all my soap and candlemaking inventory, sales, batches, etc., Basically everything. You can run reports for your taxes, and it will give you what you need, however, I do supplement that with an excel spreadsheet as well.

Mainly because I love creating spreadsheets with formulas, v-lookups, and all the fancy things excel can do. SM3 can basically do the same thing, but all that functionality is already built in, and I want to do it on my own in case I want to manipulate the data somehow. 

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There is a very helpful website you should visit. Its the SBA or Small Business Administration at https://www.sba.gov/

You should get familiar with the site. It has all kinds of helpful information on running a small business. Also, you can find your local SBA affiliate office and contact them for small business classes. Some are free or have a very small fee. They have classes from finding insurance, business entities, bookkeeping, doing your taxes, local small biz accountants, and much much more. Very much worth looking into. I took several classes to help me out in the beginning. You can also make an appointment with a local SBA rep and they can help you with starting your business and letting you know where to get license, tax ID, etc. As your business grows the SBA also has information to help you grow, make a loan, etc.

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