Typically you start out selling your own stuff – it’s just a hobby. It’s so fun!

Then you start buying stuff to flip. And you find an amazing deal and make an incredible profit. Awesome!

And you keep doing it over and over and over and eventually even start buying wholesale and become an online boutique.

Then boom! Your hobby is now a full fledged business!

What?!?

Yes, your activities are now a business. And now you need to start treating your transactions like they’re part of a business.

You need to start ACCOUNTING for them. And then you need to start paying TAXES!

Boring!!!!

I know you didn’t get into resale or having a boutique to know anything about accounting or taxes. I totally get it.

But, just think – you are NOW an ENTREPRENEUR!!!

Doesn’t that feel Ah-may-zing?!?

Some responsibility comes with the territory.

For one, you have to treat your activities like a business and that means keeping good books!

And yes, I know, some of you don’t know anything about accounting or taxes or even business.

I totally understand that.

And that’s why I created this course in 2017!

In this course, I’m going to walk you through the beginning of your business activities, to what licenses you need to get, to what type of entity you should consider for your business, to setting up your books and to dos. I’ll cover inventory, sales, expenses – their nature, how to account for them and what to include in those categories. Then I’ll teach you how to read your financial statements, show you what all those numbers mean. Then give you the deets on income taxes and sales taxes.

• Tax Cuts and Jobs Act including QBI (Qualified Business Income deduction)
• New Sales Tax Laws and Wayfair v So Dakota
• Poshmark’s reports – Sales report and inventory reports
• Poshmark’s Posh Remit program
• How To Account for Consignment as both a consignor and consignee

And you know what? After this course, You will understand your business better.

You’ll know what all those numbers mean!

AND

You’ll be a savvier business owner!

So what will this course cover?

Module 1 – Setting Up Your Fashion Business

What You Need To Get, What You Need To Decide On

Module 2 – Accounting 101

I’ll introduce the basics of Accounting so you can get familiar with the terminology in accounting, business and the course!

Module 3 – Setting Up Your Books and To Dos

What Software To Use, What To Make Sure You’re doing

Module 4 – Inventory

Accounting for it and Tracking It – personal items, resale items, boutique/retail items

Module 5 – Sales

Factors and Things to Consider When Pricing Your Items

Module 6 – Expenses

types of expenses like Cost of Goods Sold, General & Administrative Expenses that you can include in your business

Module 7 – Recordkeeping, Financial Statement & Financial Analysis

I’ll teach you how to read financial statements and how to decipher the common basic financial analysis ratios

Module 8 – Income Taxes

Module 9 – Sales Tax

the most complex topic! I will cover the general basics of sales tax, how they are calculated, when they’re calculated

Kreithchele is a multi-passionate small business owner. She owns and is the founder of:

• KB Business Consulting, where she works with local CPA firms and small businesses with their accounting and business consulting needs.
• Krangele’s Closet, a fashion resale business selling on various platforms including peer-to-peer and consignment platforms
• Kreithchele’s Academy, digital courses for resellers with over 3000 students

Kreithchele has bridged her expertise in accounting and her love of fashion to create this digital course to teach those who own a resale business the basics of accounting and taxes.

Prior to this starting KB Business Consulting in late 2014, she was in public accounting for over 15 years and has been a CPA in California since 2002 (currently inactive). She has provided audit, accounting and business advisory services in various industries including not for profit, SEC, manufacturing, distribution, software, service, real estate development, government, and construction. In addition to her capacity as a CPA, she enjoys mentoring, networking, marketing and business development.

Kreithchele is a member of numerous professional and networking organizations. She is active in the Orange County business community and serves as a volunteer and member of various non-profit organizations in Orange County.

Kreithchele is a resident of Irvine, California and enjoys traveling the world, checking out new restaurants and hotspots, and attending live music. She is a self-proclaimed foodie, a lover of rooftop bars and a lover of foie gras. She loves spending time with her partner Ken.