Etsy fees-What is my profit?

[SasswearShop]

Hi, I'm actually a little confused. I'm trying to do paperwork to pay taxes and I noticed on my bill it says auto renew .20 and transaction .21, then on my shop account it has the sold item for the same day (9.00) and a .51 fee so it says net 8.49......

So are these all separate fees for the one item? or is the .20 and .21 included in the .51? Just trying to figure out what the actual profit from the item is minus all the fees.

[TheDorothyDays]

The $ 0.20 is how much it costs each time to list, regardless of if it sells or not. Then you pay 3.5% of your sold for price to Etsy. So the .20 is the listing fee and the .21 is the 3.5% etsy fee.

[SasswearShop]

Hi thanks for the reply....then what is the .51 fee?
Sorry for the confusion and thanks for the help.

[Former_Member]

Probably Etsy's direct checkout fee. If your buyer pays by direct checkout, you get three fees - 0.20 listing fee and 3.5% transaction fee show up on your monthly Etsy bill, and the 3%+0.25 direct checkout fee gets deducted from the amount deposited into your bank account.

[GoTo]

For help with what your fees are for a specific transaction this tool should give you an idea:

http://www.gregledet.net/efcm.html

If you take Etsy DC payments, the fees are about the same as what Paypal charges, so each item sold will show those fees too when the buyer pays through DC and the tool will still give you an idea of what it costs.


But for income tax purposes, you need to include your total income from sales (item price plus shipping), and then you reduce that amount by deductions allowed by the IRS. It's all done the schedule C with specific deductions on specific lines for sole proprietors--help with that here:


US Sellers: Help for Filing Income Taxes for Your Small Business
http://www.etsy.com/teams/7722/business-topics/discuss/67739691


I lump all the Etsy transaction fees and listing fees together, though if I accepted Etsy payments I'd probably list those separately (credit card fees vs venue fees).

[SpangGangDesigns]

Is there an easy way to see (etsy commission) + (etsy listing fees) + (transactions fees) + etc..... on a monthy basis?
I can easily see my sales, but how can I subtract from that all of the fees?

Thanks, Erica

[PrairiePrimitives]

Erica, try this:

Go to ... Your Shop (upper right corner of the screen) ... Your Bill ...

Then open whatever month's bill you want to work with and at the bottom of the screen, there's a link to download a CSV version of the data. That will open as an Excel spreadsheet.

See if that helps you?