Starting a small BusinessFollow

For the sake of a couple hundred dollars, you'd be stupid not to register as an LLC. If you're talking $300 versus $1500, I could understand, but $300...?

I'm not sure I've ever been to a craft fair or flea market in my life. What kind of jewelry is she selling? $5, $50, $500? I have no idea how much money these people make, and so if hobbyists are eking out $500 annually then I don't see it being a worthwhile idea to make an LLC.

I price the pieces of jewelry on the cost of materials and time they take to create with as much market up as the customers I catering to can afford.

I plan on showing my work at more then just craft fairs, and local events, as there are many place that will sell on commission, jewelry such as I'm making, as well as Esty.com on the internet. We're talking necklaces that can sell in the $ 30 to $80 range easily. I have several that are priced lower due to the fact that I had to use chip beads instead of higher grade gemstones. Profits right now are going to go for higher quality beads and metals for metal smith work in copper and hopefully silver before the year is out. I want to take some refresher courses before I work with gold and platinum. My work is individually different in a style of my own that got a lot of raves from not just friends but strangers I meet at social functions and stores. Not to mention a few people who would love to buy something, but I know can't afford to cover the cost each piece of jewelry costs me to make.

Neat looking!

Assuming I actually get the last piece of the top plate for my mill and finally get that mounted, I'll be able to cut metal doodads and whatsits here fairly soon, theoretically. A few people around here I know are looking for interesting decorative metal thingies for projects such as that. I plan on making a handful of semi unique super intricate thingies, and then faux-age them using acid. [/quote]

Part of the value people placed on the tree was that it was saw out free hand with a jewelers saw. The machine milled items are very nice, but lose some of the emotion appeal of something that is made by hand. I use Cider vinegar or lemon juice, instead of stronger acids for aging and pickle.

Generally, if you live in a state where there are community property laws, a community interest will always inure to the spouse's benefit, unless the spouse disclaims any interest in that property or the the property was bought with separate property funds (inheritance, money you had prior to marriage, etc.).

LLCs, corporations and limited partnerships will only ensure that your personal assets are kept separate from your business assets so long as you maintain the business formalities that are required by law. And even then, any attorney will throw in alter ego liability because then it will be up to you to prove that you didn't commingle funds or property. That's why insurance and bonds are so important, depending on your line of business.

Elne, do not just check with just Social Security on what rules you need to follow, check local, county and state laws as well. There are thousands of resources that you can pull information from, and for a small side business, best bet to start with is with the Small Business Administration. They have checklists that you can use to see if you're complying with everything. It's better to be proactive instead of finding that you're not compliant with some arcane rule that you didn't know about because the penalties and fees can be horrendous to correct a deficiency, particularly now almost every government agency on every level is grappling with a budget issue.


Edited, Jul 13th 2011 9:30am by Thumbelyna

Also, if you're receiving disability, that doesn't mean you can't work at all. Just that you can't work enough to sustain yourself.

Well I made a start on my Etsy site and so far got 3 items up for sale. These take me longer to post then I like since I have to do all the writing myself and hope the Elnese isn't too bad. I'll try to get more up today as long as my hands hold up. Hands are getting red from typing and don't know how much longer I'll be able to type.

I agree Moe, I know if I could work and make enough to cover all my medical bills each month, I wouldn't be on disability at all. It's the cost of health care that limits, what I can do to be independent of needing any help from the government. If I knew I could make enough to get off SSI, I would jump at the chance without worry.

I took the liberty of editing your Etsy profile. Feel free to copypaste:



I hope you don't mind. Thought it would help your page look more professional.

Edited, Jul 15th 2011 11:21am by AshOnMyTomatoes