What Do I Need To Buy When I Go To Tandy, Leatherwise?

[Studio-N]

Most of the clearance items here are out. That's usually the case on their clearance sales, just something to help the stores get rid of the discontinued stuff.

[camano ridge]

Your right I went to the nearest Tandy to me and they did not have a single one of the items in that flyer that I wanted including the leather that is on sale they did not even have it in their wharehouse. I was told that if one store some place has an item it goes in the flyer. It seems to be a ploy to get you in to the store figuring even if they don't have what you want they will be able to sell you something. I guess we have gotten off track of the original posters question.

[silverwingit]

Here is a valuable tip for leatherworkers or other craftsmen -- get a State DBA (Doing Business As) License. A DBA is an affordable alternative to incorporating, enabling a small, often one-person endeavor to operate as any other company with accordant benefits and responsibilities. Simply stated, having a DBA means that you have the ability/responsibility of collecting taxes and reporting related income. It also enables you to access discounts at many local and online suppliers and order from wholesale-only companies.

In my State of Colorado, one can register a DBA for one year (or more than one DBA for that matter) online for $25 (each). Having my Colorado State DBA gives me access to an average discount of 10%-15% from Springfield, for example, but more importantly to me, it also enables me to do business at wholesale-only companies like Weaver Leather or Ohio Travel Bag. Further, I can deduct expenses related to the production of my goods (tools, equipment, not expendables like leather) on my State and Federal income tax returns.

Of course you should carefully check your own State's tax regulations or a lawyer if need be. Collecting sales tax seems like a huge step, but it is eased considerably with the computer program, Quicken, which automates much of the process. Only In-State sales need be taxed. Reporting income and tax reporting occurs under your personal Social Security number, under your personal income tax filing. There are no special "Company" record keeping or reporting beyond that.

Long and short, obtaining a DBA is easy and inexpensive, and it allows significant savings and access to companies that only deal with other companies. There is little negative offset, especially since, with only a small investment in the software and time learning Quicken, tax reporting is a breeze.

Works for me!

Thanks,

Michelle

Edited July 22, 2013 by silverwingit