[Jewelry making - Article 01309] - Re: [Orchid] Whether or not to get a tax id

[Judy Willingham]

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Hello Susan,

>     what everyone's thoughts were on whether or not to get a tax i.d.
>     number. I'm still very new at this and I wonder if it's worth it
>     at this point with the extra headache of filing more tax forms,
>     etc. I don't make over the allowed amount per year yet to have to
>     claim anything but I know I will be

    OK, where did I put my soap box. Oh yes, here it is. 

    If you are selling retail, every state that has sales tax will
    insist that you register and collect sales tax to be passed on to the
    govt. So, YES, it's worth it to be legal. My experience is limited to
    my state's requirements, so you need to check with Ohio's department
    of revenue for what you need. When you go out of state, you will need
    to register with that state as well. They want their money and
    usually try to make registration simple. 

    That said, the other reason you really do want to register and file
    taxes is that in the future you may want a record of your sales.
    Should you need a loan to purchase new equipment or start a business,
    your tax records will help verify that you have business income, are
    serious, and are HONEST. 

    'Nuff said. Off the soap box. Apologies to anyone I might have
    offended. 

    Judy in Kansas, who also consulted a CPA to learn how to set up the
    proper records and make filing taxes much easier! Money well spent. 

 
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