Tag: 2018

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End of Year Tax Tips

As 2018 comes to a close, there are many things we would rather use the remainder of our time with other thinking about taxes. But the changes you make now can help keep the cash flowing come tax season. Check out these tips to help your small business.

  1. Find out if your business qualifies for different treatment. The next time you meet with your tax specialist, check if your status is pass-through and if you can switch to C-corporation. New laws decrease income tax rates from 35 percent to 21 percent for all C-corporations, but be sure to ask an expert if the switch makes sense.
  2. Pay your taxes throughout the year. Ask your tax specialist if you can pay taxes at quarterly estimates in 2019 instead of in one lump sum.
  3. Think about retirement. Contributions you make to you or your employee’s plans can be tax deductible. Check with your specialist to see if opening a new retirement plan counts too.
  4. Buy some equipment. This includes both new and used, and equipment bought after September of this year can be listed with 100% depreciation.
  5. Defer revenue. Wait until the end of the month to do billing or wait to get some services until January. On the flip side, if you have events or things you need to buy in January, consider purchasing them early.
  6. Give to a charity. Tis the season for giving, so why not get two birds with one stone and not only give back to your community, but help make your taxes more manageable.

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Hopefully 2018 has been a more prosperous year than the last, and gives you the problem to worry about what your taxes are going to look like. Regardless of your financial standings, these tax tips can help all businesses manage their bottom line.

If you’re looking for more information to guide you in owning a retail business, subscribe to American Quilt Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you.

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‘Tis the Season

Make sure your store is the place to shop for quilt related gifts this holiday season. Check out this quilter’s buying guide for ideas on what to add to your store.

  • Travel steam iron. Not only is the quilter in your life going to love this gift, but you’ll stay well within budget with this item costing just $20.00.
  • Foldaway cutting mat. Whether you quilt on the go or occasionally at home, storing this foldaway mat won’t be a problem (and is the best part about this gift).
  • Quilt organizer. This gift is going to take a little bit of intel to know what exactly your recipient would use the most. Do some investigating to find out what your loved one is wanting or what they already use.
  • Quilt caddy. Organizing is the name of the game this holiday season, if you’ve got room to splurge package this gift with the quilt organizer to make your quilter’s day.
  • Thread. A classic gift never goes out of style and is guaranteed to be something they use (and need).
  • Quilt starter set. Definitely targeted to the younger crowd, this gift is to inspire children and grandchildren to get in with mom and grandma on all the fun.
  • Mini quilt kit. Give an easy project to keep your loved one busy this winter with a kit to make a mini quilt. If the quilter wants to share the love they could easily regift this mini quilt, too.
  • Rotating cutting mat. Long time quilters will have no idea this is what they’ve always been needing, surprise them with this new take on a conventional tool.

Figuring out what the best gift to give someone can be one of the hardest decisions around the holidays. Make sure your store helps to make the process easier for customers.

If you’re looking for more information to guide you in owning a retail business, subscribe to American Quilt Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you.

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All About Video

Continuing with our theme of online stores, this week we’re going to highlight content for video.

For many of you video can be a scary word, but we’ll show you just how easy it can be.

With the close of the 2018 fall Quilt Market in Houston, we came back inspired by all of the businesses and products the industry has to offer.

  1. Check out this video from Brooklyn Haberdashery. This first-time market attendee highlighted this year’s hottest products.
  2. This next video promotes a new tool with a little bit of flare. Pay attention to the detail she’s able to describe that really helps viewers get to know the product. The tutorial is a plus too.
  3. This last video may be short and sweet, but it highlights one product that was the star of the show.

*All of these videos can also be viewed in our digital version of the Fall 2018 Quilt Market Recap Issue

The one thing all of these videos had in common were they knew what products they wanted to highlight. Think about the tools that excite you, then make a video about why your customers should purchase one.

Also note the video quality wasn’t top notch, but all of the videos were interesting. The background noise doesn’t have to be completely silent, and it’s okay to stumble on some words along the way.

Of course, practice makes perfect, so feel free to practice a few times before taping. As long as the display looks great and you have everything you need prepared if you’re doing a demonstration, think about the video as if you were talking to a customer.

The more you try the more comfortable you will become. Take advantage of the holidays to tackle two birds with one stone; promote your products and dip your toes into promoting them through video.

If you’re looking for more information to guide you in owning a retail business, subscribe to American Quilt Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you.

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Fourth of July Crafts

Even though it seems like summer has just started, the Fourth of July is already here! Check out these five craft ideas you can add to your window display to celebrate the holiday of the summer.

  1. American Flag Backdrop. Cut up strips of red, white, and combined red and white material you have in stock at your store and tie them to burlap string. Find some blue material with stars and pin to the top left corner—and there you have it, a homemade flag that doubles as a backdrop!
  2. Handkerchief quilt. Make the quickest quilt ever with red, white, and blue handkerchiefs. You’ll need three of each color, and after a little sewing with quarter-inch seams, you’ll have a patriotic quilt hanging in your window in no time.
  3. Cardstock wreath. Wreaths are every crafters favorite project because they’re known for being quick, easy, and cute. You’ll need red, white, and blue cardstock, and cardboard a little smaller than what you want your wreath to be. Roll the cardstock into cones, and glue them to the cardboard, stacking them on top of each other in a circle. Cover the center with a fanned piece of cardstock in the color of your choice.
  4. Clothespin flags. Probably the most self explanatory craft, paint clothespins and glue them together so they make a miniature version of our nation’s flag.
  5. Patriotic string lights. You’ll need red, white, and blue yarn, 5-inch balloons, petroleum jelly, and string lights. Inflate the balloons. Soak the yarn in two parts petroleum jelly to one part water. Tie the yarn to the tied end of the balloon, and wrap. Wait 48 hours. Pop the balloons and remove them from the yarn. Place balls of string over lights and voilà! Your own DIY string lights.

Don’t fret if time is short, these crafts will transform your window display so you’re ready to celebrate.

If you’re looking for more information to guide you in owning a retail business, subscribe to American Quilt Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you.