Unique Handmade Gifts & more
Bookkeeping and Accounting in Your Yarn Related Business (BAYYRB). Because both knitting and crocheting are both considered hobbies you are going to have to “prove” to the IRS that your yarn related business is something that you started in order to make money (a profit) from.
One of the hardest things any crafter has to do is determine how much they will charge for a handcrafted item that they make and intend to sell; I’m no different! When it comes to pricing handcrafted crochet items, there are several schools of thought as well as a really cool app that can help you out when it comes to pricing. In this post I’ll discuss 3 of the most common manual pricing methods, talk about the Crafts Calculator, and at the very end of this post I’ll also explain how I price my crochet gift items.
One thing that I’ve learned about crocheting dolls and fairies, while it doesn’t cost a lot for materials (there is about $20.00 in materials) – the amount of time that goes into making one is incredible! It takes roughly a month to crochet a doll or fairy – including the clothes.