Astra
M-Press, WorldTree Products has been a dba/sole proprietership for a while now - originally set it up when I was doing some stuff with astrological dice and thought I might try going with secure credit transactions on the site. Turned out to be pretty much a waste of money, but I kept the business registration and such going for a "someday".
Taxes, accounting, invoicing - the whole thing is going to be a mild pain, especially since I'm going to have to relearn double-entry bookkeeping now that I'm going to have inventory as capital assets. And making sure I know JUST how Illinois treats mail order sales tax - I think they're okay on shipments out of state, but in-state needs to be kept track of. And making sure I've got tax numbers for retailers that order stuff so that I can show where I didn't need to charge sales tax, and ...
Any expense/income over $1 gets tracked - I haven't been reporting much income for the past few years (legitimately), and once I start (assuming I do!) I don't want to give the IRS any reason to even suspect I'm fudging.
I'm still working on convincing myself that doing this does NOT have to lead to another burnout situation, and I think I've got most of it clear, since I'm actually looking forward to going over to the ISBN site when I'm done here, and registering with them.
Taxes, accounting, invoicing - the whole thing is going to be a mild pain, especially since I'm going to have to relearn double-entry bookkeeping now that I'm going to have inventory as capital assets. And making sure I know JUST how Illinois treats mail order sales tax - I think they're okay on shipments out of state, but in-state needs to be kept track of. And making sure I've got tax numbers for retailers that order stuff so that I can show where I didn't need to charge sales tax, and ...
Any expense/income over $1 gets tracked - I haven't been reporting much income for the past few years (legitimately), and once I start (assuming I do!) I don't want to give the IRS any reason to even suspect I'm fudging.
I'm still working on convincing myself that doing this does NOT have to lead to another burnout situation, and I think I've got most of it clear, since I'm actually looking forward to going over to the ISBN site when I'm done here, and registering with them.
