STORE SETUP GUIDE
This is friendly advice, not professional. Please always do your own research on what type of business best fits your unique needs. That said, the previous online stevens passion shop was made possible by integrating the printify API with an Etsy online shop. Orders that were placed on Etsy were sent to be processed through paypal and then routed by the Printify API to third party print providers, who intern, manufactured and shipped the ordered products directly to customers.
HOW TO SETUP YOUR OWN SHOP
Next, setup a drop shipping account at Printify which is used to create products and route orders. Link the Printify account to your Etsy store via the built in API to complete the setup.
To customize the look, Etsy provides an optional Pattern website for an additional $15 a month which allows you to stylize your store to appear as if it isn't hosted on Etsy). To customize the domain, register a URL/domain for your store by visiting Google Domains, prices are generally $12 - $15 annually and include free domain forwarding.
Create a paypal business account at Paypal
Setup an Etsy seller account and shop
Link your drop shipping and Etsy accounts via API integration (very simple)
Optional: setup a Pattern website on Etsy for $15 a month to remove Etsy appearance
Purchase a domain at Google for $12 - $15 a year
Forward the domain to your Etsy or Pattern web address
Etsy will charge approximately $0.20 per item listed in your online store
If you purchase a domain (.com) the hosting cost is $12.00 annually.
If you purchase a pattern site the cost is $15.00 monthly for a total of $180.00 annually. For a combined cost of $192.00 annually.
Etsy listing fee
Print provider cost
Possible routing up-charge
Transaction fees (Printify and Paypal)
CREATE A BUSINESS
Steps to operate a small business on Etsy with the purpose of making a profit
Register as an LLC with your state - Generally a cheap and simple process. e.g. Single-Proprietor LLC / Single Business Owner Licenses.
Enter your EIN-ID (Tax Payer Information) into your Etsy account.
Get a separate financial account for business transactions. Always keep all business and personal expenses seperate for taxes.
At the end of the year file a Schedule-C with your usual 1040 form. Check the box that says its your initial return. This will register the LLC with the IRS
2022 Tax Change
Online marketplaces are required to submit income information to the IRS and business by means of a 1099-K tax form. Previously the requirement was to report anyone who receives payments in excess of $20,000.00 or 200 separate transactions. Now the requirement is to report anyone who receives gross payments in excess of $600.00 annually or 1 transaction.