Etsy 2023 Updates: Taxes, Search, and More

Etsy 2023 Updates: Taxes, Search, and More

Table of Contents:

1. Introduction
2. Etsy Taxes and the 1099
3. Changes to Etsy Search 3.1 Add to Cart Button 3.2 Sales Countdown 3.3 Listing Video Autoplay 3.4 Star Seller Search Filter
4. Conclusion

Etsy Updates: Taxes, Search Changes, and More

Introduction

In this article, we will discuss some recent updates on Etsy that you should be aware of. From changes in taxes to updates in search functionality, we will cover everything you need to know to stay up-to-date with your Etsy business.

1. Etsy Taxes and the 1099

One of the first things we'll address is the issue of taxes on Etsy and the 1099 form. Recently, the IRS announced that they would be challenging the reporting thresholds for U.S. sellers. Previously, any earnings of $600 or more required a 1099 form. However, this threshold has been delayed until later in 2023. This means that you will not be receiving a 1099 form from Etsy. It's important to note this change and make the necessary adjustments when handling your taxes. We will also provide some tips on how to easily handle tallying your sales and fees in a separate video.

Pros:

• No need to wait for or rely on Etsy to provide a 1099 form
• More flexibility in handling tax reporting

Cons:

• Requires sellers to track and report income without the assistance of a 1099 form

2. Changes to Etsy Search

Now let's move on to the changes that have been implemented in the Etsy search functionality. These updates aim to improve the buyer experience and make it easier for them to make purchases on the platform.

3.1 Add to Cart Button

Etsy has introduced a new feature called the "Add to Cart" button. This button now appears underneath listings in search results, making it more convenient for buyers to add items to their cart and proceed with the purchase. Although the feature is currently limited to listings without variations or personalization, Etsy plans to expand it to include more types of listings in the future. The introduction of this button emphasizes the importance of well-presented listing images that attract buyers and entice them to make a purchase.

3.2 Sales Countdown

Another interesting update in Etsy search is the addition of a sales countdown. When you have a sale running for your shop, a countdown will be displayed underneath your listing starting 48 hours prior to the sale's expiration. This countdown creates a sense of urgency for buyers, encouraging them to make a purchase before the sale ends. It plays on consumer psychology and the fear of missing out (FOMO), making it more likely for buyers to take advantage of the discounted price.

3.3 Listing Video Autoplay

Etsy has also introduced a new feature that allows videos to autoplay when a buyer hovers over a listing. This feature enhances the browsing experience and gives sellers an opportunity to showcase their products in a more engaging way. If you haven't used listing videos yet, it's a simple and effective way to grab buyers' attention and make your listings stand out.

3.4 Star Seller Search Filter

One additional update worth mentioning is the new star seller search filter. Buyers now have the option to filter their searches specifically for listings from star sellers. Although this filter doesn't impact search rankings, it allows buyers to further refine their search results and prioritize listings from sellers who have achieved star seller status. As a seller, it's crucial to ensure that you have any special offers available and to fill out your listing attributes accurately to increase your chances of appearing as a star seller.

Pros:

• Convenient "Add to Cart" button enhances the buyer experience
• Sales countdown increases urgency and boosts sales during promotional periods
• Listing video autoplay grabs buyers' attention and increases engagement
• Star seller search filter helps buyers find listings from reputable sellers

Cons:

• Limited availability of the "Add to Cart" button for listings with variations or personalization
• Sellers need to meet certain criteria to become a star seller

4. Conclusion

In this article, we have discussed some recent updates on Etsy, including changes in taxes, search functionality, and more. It's important to stay informed about these updates to effectively manage your Etsy business. Remember, you will not be receiving a 1099 form from Etsy if you have earned $600 or more in sales. Additionally, the new features in Etsy search, such as the "Add to Cart" button, sales countdown, listing video autoplay, and star seller search filter, can greatly impact your sales and visibility on the platform. Stay updated and make the necessary adjustments to maximize the potential of your Etsy business.

Highlights:

• Recent updates on Etsy include changes in taxes and search functionality
• The reporting threshold for a 1099 form has been delayed until later in 2023
• The new "Add to Cart" button makes it easier for buyers to make purchases
• A sales countdown creates urgency and encourages buyers to take advantage of discounted prices
• Listing videos now autoplay when a buyer hovers over a listing
• The star seller search filter allows buyers to find listings from reputable sellers
• Stay informed and make the necessary adjustments to maximize your Etsy business

FAQ: Q: Will I be receiving a 1099 form from Etsy? A: No, the reporting threshold for a 1099 form has been delayed until later in 2023. You will not be receiving a 1099 form from Etsy.

Q: How can I handle tallying my sales and fees without a 1099 form? A: We will be releasing a separate video on how to easily handle tallying your sales and fees without a 1099 form. Stay tuned for more information.

Q: Can I add videos to my Etsy listings? A: Yes, Etsy now allows videos to be added to listings. When a buyer hovers over your listing, the video will automatically play, showcasing your product in a more engaging way.

Q: How can I become a star seller on Etsy? A: To become a star seller, you need to meet certain criteria set by Etsy, such as offering special deals, accurately filling out your listing attributes, and maintaining a positive selling record.

Q: Do the changes in Etsy search affect my search ranking? A: The new features in Etsy search, such as the "Add to Cart" button and the sales countdown, do not directly impact your search ranking. However, they can significantly improve the buyer experience and increase your chances of making sales.