[HNW] 15997 Sibmacher
scbooks at mindspring.com
Thu Aug 30 05:29:38 PDT 2007
The IRS isn't a problem as long as you are showing a small
profit. It does have a problem with people who take "loss"
deductions off their income tax, year after year, without showing a
profit in a reasonable number of years. Registering? No. I just
started submitting a Schedule 1040 C with a tiny profit, as part of
my income tax return.
My state wants you to (1) have a sales tax license if you are selling
directly and (2) pay local property taxes on business property. The
property tax came to less than $20 last year, IIRC. I have tables, a
computer used partly as a business deduction, shelving in a stock
room, my tent used only at Pennsic, etc. But these also are income
I was supposed to file a "declaration" form for the property taxes
every year, but didn't know it. (This is just a listing of the
business' equipment.) My town assessor found me by my state sales
tax filing, and told me to start filing. So I did.
Some states don't even have a tax like this.
Don't be discouraged. Not so difficult!
At 11:40 PM 8/29/2007, you wrote:
>< I would recommend talking with your tax person before going to all the
>trouble, which may, of course, be necessary, of registering as a small
> > Some states may require it; others may not. You will always, of course,
> > need to report income and expenditures on your yearly personal tax forms
> > and pay
> > both state and federal taxes. >
>Oh, the headache of going from simple SCA printing/dissemination to this??
>It all sounds like too much headache to me. It's worth it to *you*, because
>you're a designer/author and definitely a small business, with ever
>expanding product. I was only seeking to republish my ONE book and perhaps,
>in the future, publish another (with a professional publisher).
>I suspect I will drop all thought of it, now. :-(
>SCA: Kathryn Goodwyn
>"too many centuries...too little time"
>H-needlework mailing list
>H-needlework at lists.ansteorra.org
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