 Crafters- insurance and taxes questions
I'm looking into selling the car tethers I posted about in the general discussion forum, and I'm having a hard time figuring out what I need to do.
Right now I plan on it being very small scale, just me, not a lot of materials, and not much profit. No one will come to my house. I don't need my materials or anything covered.
1. I know I need liability insurance, where can I get it? About how much will it be?
So far I've found RLI, but it looks like it's at least $200+ a year, I don't think I'd sell enough to cover it.
2. At what point do I need a tax number? If I'm not making much can I just treat it as regular income?
3. Anything else I need to know?
I'm completely overwhelmed, I'm trying to figure out how to do things the right way so I don't get in trouble later and I can't find any clear cut answers. |