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Thread: Weekend projects

  1. #111
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    Quote Originally Posted by brien View Post
    If you are really wanting to go for simplicity, white ink on red and white ink on grey will be easiest, because then you won't have to change out ink when you switch shirt color.
    duh! Can't believe I didn't put that together. I'll make you a white one just because you're special. I already said I'd do grey/black so it might be confusing to switch now. Also, after talking to our secretary I'm thinking I better charge $7 for shipping. Seems a little steep, but envelops and postage add up when you don't have mass quantities. Thanks for being my second customer, yes, you're second somebody already paypal'd money.

  2. #112
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    Anybody ever make and sell stuff kinda like a business but not really a business? I have questions about taxes. Like, do I need to be concerned about taxes?

  3. #113
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    DISCLAIMER: I AM NOT AN ACCOUNTANT, BUT:

    I make and sell stuff kinda like a business but not really a business (i screen print posters for record labels/bands, and sell cards and prints and crap like that). You do need to be concerned about taxes, but not so much that you need to collect it as a separate line item. just calculate your tax into your cost of production and charge simple tax-included prices for your stuff. You will then pay these taxes to the government in the form of your normal income tax process - you include any money made form this business as 'additional income' when tax season comes around

    For now, you are "Doing Business As" / 'Sole Proprietorship". This means that your business and you are indistinguishable to the government, they are the same entity (your business tax ID is just your SSN in this case). I'm not certain of the specifics in Wisconsin, but in a number of states the business you operate under defaults to your personal name. If this is the case in Wisconsin, then you don't need to worry about going through the hassle of additionally registering as a DBA or Sole Proprietorship yet, you just include any income you make on your taxes as "additional income", and you can keep your receipts for your supplied and write them off - although chances are, for now at least, your standard deduction is still better for you.

  4. #114
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    Good to know! That sounds less scary than I thought. I know an accountant, I'll check with them for further advice.

    Mostly I'm concerned about putting together all the costs of business so I can teach my kids how this works. We buy a shirt for $4, $0.25 for ink, postage, taxes, etc. then we have $6 profit! So each kid gets $X per shirt. Probably a more convoluted lesson than required, but it's a lot more profitable than a lemonade stand.

    I'm thinking I'll actually pay them $1 per shirt as their wage, then have a profit sharing split after expenses are covered.

  5. #115
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    Quote Originally Posted by nynnja View Post
    Also, after talking to our secretary I'm thinking I better charge $7 for shipping.
    Quote Originally Posted by nynnja View Post
    We buy a shirt for $4, $0.25 for ink, postage, taxes, etc. then we have $6 profit!
    Aren't you charging extra for postage? In which case the final price is $22, and your profit is $7 higher.

    Might as well make sure your math is straight if you intend to use this as a teaching tool.

  6. #116
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    oops, i thought postage was an additional charge, so i sent you more money. consider the extra cash i sent to be my additional investment in your kids future.

  7. #117
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    The shirts are $15, and I looked up the average shipping rates and how much envelops cost and settled on $7 as a good average. My example was meant to be a list of expenses, I don't quite know all the details yet.

    brien, if I can find some card stock (?) I'll throw that print in too. Although shipping a print that large might be tricky, unless I can roll it. I have no idea where to get nice paper for printing. :shrug:

  8. #118
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    Quote Originally Posted by nynnja View Post
    I have no idea where to get nice paper for printing. :shrug:
    Hey man, I've been to Neenah!

    "There are 24 paper and pulp mills along the Lower Fox River that produce more than five million tons of paper per year and employ around 50,000 people."

    Paper grows on trees!

  9. #119
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    EDIT: FUCK I HATE YOU VBULLETIN

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