[MWK]

My reasoning for this is, I already have a full time job working midnite to 8:30 in the morning, and i'm not interested in all the legal mumbo jumbo you have to deal with, in having your own business: some examples: tax season,business licenses', etc. I know i'll get some good/bad responses, but i need them to help me better understand what i'm gonna be getting into. thanx in advance for your future input.

 

[spankthafunk]

That's true, but the legal mumbo jumbo really isn't bad once you get your hands dirty. One thing that'll you miss out on by not calling it a business is savings on tax free items, and getting discounts from vendors. Some vendors won't even see you if you don't have a business licence or a tax receipt.

If you are printing for fun, it's a hobby. If you are printing for profit, it's a business.

 

[MWK]

what do u mean by vendors? like companies i would products from? and i was leaning more towards putting the funds back towards buying more products, shirts, ink, stuff like that, somewhat of a buying, selling, buying again type circle. i just wanna make some kick *** shirts and put them out there

 

[Jasonda]

what do u mean by vendors? like companies i would products from?

In this context, "vendors" means suppliers who supply businesses only at wholesale prices.

It's really not expensive at all to set up a sole proprietorship and get a business license. It varies by state but I think generally you're looking at less than $150.

 

[spankthafunk]

The vendors will be supplying you shirts, and if you go through them you will get them substantially cheaper at wholesale prices, as stated before.

You can try flying under the radar, but if you are buying goods and selling goods, Uncle Sam is going to want to know about it. Any profit you make will want to be accounted for. Plus, you will be able to write-off your expenses of all the electricity you use and goods you buy at the end of the year.

 

[MWK]

Damn, looks like trying to stay low key, won't be better in the long run, i'm gonna look into gettin a business liscense so i can reap the benefits, and i planned on somehow keeping track of the transactions and funds for a "just in case" situation, but it also makes more sense to have all that stuff written off at the end of tax season, thank u both, you've opend up my eyes a lil more on what a major mistake i mite have made. oh yeah one more thing, how do i look into getting a business liscense???

 

[Jasonda]

oh yeah one more thing, how do i look into getting a business liscense???

Just Google "business license" and your city name and it should come up.

 

[MWK]

ok thanx doin that now

 

[Solmu]

i was leaning more towards putting the funds back towards buying more products, shirts, ink, stuff like that, somewhat of a buying, selling, buying again type circle.

If you're not running a business none of that is tax deductible, so you'll be losing money on every single thing you sell.

 

[MWK]

So i should just stick with being a business then

 

[Jasonda]

So i should just stick with being a business then

I think that's what the general consensus is, yes.

 

[CUSTOM UK]

Hi Matt. Before you go rushing off to register your business and get any licenses etc. you first need to make sure you actually have a business. Buy a few shirts, print them up, show them around to people and get some feedback. As it long it's only a few, consider putting them up for sale on EBay and see how well they do.

You don't want to go spending out money, until you know for sure that you have a viable business.

 

[Solmu]

So i should just stick with being a business then

Yup. If you start slow, read some forum threads, get some help from the relevant government departments, etc. you'll probably find it easier than you first feared.

 

[stitcher]

Dear MKW

I'm in the same boat as you basically. I'm going to be cross stitching onto my T-shirts and other items e.g bags.

Let me know please how you get on and good luck!

Louise Edge(Mrs)
Manchester, England

 

[MWK]

Okay so i should start off slow get my equipment make a handful of shirts, maybe like 5 of each size, put them out there see if people are into my work, then if i get a pretty good amount of feedback and lets say (fanbase) then i should apply for the business liscense so i'll be able to put out a lager quanity legally. I'm I gettin the right idea?

GOOD LUCK STITCHER!!!!!

 

[CUSTOM UK]

That's the most sensible option to go with. No good declaring a business until you actually have one to declare.

 

[spankthafunk]

I agree, make sure first that you have goods someone will want to buy. You can try selling on eBay and other places like cafepress.com (though a good amount of people on here don't recommend it) so you can see how well you do.

I researched and researched for about 6 months before getting my license. I read everything there is on what type of printing I should do, and other various business things that I needed to know. I registered with my local state at the town hall (it was cheap), registered online for a fictious name registration, and got a po box. It was cheap and easy, and I now reap all the benefits of owning a business.

Definently research and make sure it's something you really want to do. But if you plan on selling your stuff, I would highly suggest starting a sole proprietorship. You'll be happy you did and if you decide it's something you aren't interested in, then you're not really losing too much - it's pretty cheap to start up and you can always sell your equipment and supplies back on here! Good luck~

 

[MWK]

kool, thanx for all the input, can't wait to get my heat press, and start ordering my plastisol designs ;D