Hello all. First and formost i would like to say that this site is one of the best sites that ive come across since ive been into t-shirts. i check it everyday, twice a day and i feel like i already know many of you.
I have a tax question and could use a little advice. Although I have been into graphic designs and t-shirts for a few years, i have not taken the steps to establish my designs or services as a business. I am finally in a position that im ready to introduce a t-shirt line and in doing so want to establish myself as a small proprietorship. Within the next few months, i anticipate many expenses: replacing my computer, trademark fees, copyright fees, t-shirt cost and printing cost. Because of these expenses and also introducing a new line, i am planing on taking a loss the first year. My question is....would it be a benefit to me to establish myself as a business before making any purchases so that i can take advantage of right offs, or does it initially matter?
also, does any one recommend becoming incorporated as apose to proprietorship for a startup t-shirt company, if so what are your reasons?
thanks in advance
I have a tax question and could use a little advice. Although I have been into graphic designs and t-shirts for a few years, i have not taken the steps to establish my designs or services as a business. I am finally in a position that im ready to introduce a t-shirt line and in doing so want to establish myself as a small proprietorship. Within the next few months, i anticipate many expenses: replacing my computer, trademark fees, copyright fees, t-shirt cost and printing cost. Because of these expenses and also introducing a new line, i am planing on taking a loss the first year. My question is....would it be a benefit to me to establish myself as a business before making any purchases so that i can take advantage of right offs, or does it initially matter?
also, does any one recommend becoming incorporated as apose to proprietorship for a startup t-shirt company, if so what are your reasons?
thanks in advance