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2nd September 05, 06:40 AM
#1
If you DO choose to report it to the IRS as a hobby, all expenses are deductable up to the cost of your profits (IE: If it's a business you caqn deduct losses. If it's a hobby you can offset profits with losses, but cannot actually claim a deduction).
Assuming you choose to report it, that is.
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2nd September 05, 07:40 AM
#2
You said that you make good gourmet cookies. Here's someone who is selling cookies on e-bay. Another person is selling cookie mixes on e-bay. http://cgi.ebay.com/GOURMET-Gift-Pac...QQcmdZViewItem
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2nd September 05, 02:32 PM
#3
Dread
Try this.
A business does not have to own it's own location. Have a friend sub let you space in their downtown business. List the business address on the application. List your address as the mailing address.
Should give you enough time to see if the business will work.
David
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2nd September 05, 04:11 PM
#4
Good on you Dread, hope you do the cookies. Remember well the folks delivering such goodies to the office workers "trapped" at their desks in Phoenix.
Ironic, was just rereading a letter my great uncle wrote in 1914 from the very small town of New Sharon, Iowa...no tourists, no big city.
"Mother is doing the baking and we are selling 15 home-made pies and five big cakes, and five dozen cookies a day. It is a fine business, but too hard on mother and me both. I have 8 prospective buyers and I am going to sell it this week."
Maybe you could combine your dreams and make fancy metal stands to display the cookies on....cookie buyers might want to buy a cookie stand too....Stand Back Famous Amos! The Cilted Carolina Cookie Chef has arrived!!
Ron
Ol' Macdonald himself, a proud son of Skye and Cape Breton Island
Lifetime Member STA. Two time winner of Utilikiltarian of the Month.
"I'll have a kilt please, a nice hand sewn tartan, 16 ounce Strome. Oh, and a sporran on the side, with a strap please."
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2nd September 05, 04:43 PM
#5
Well, from another point of view- you are selling food, and I can understand where they'd want to be careful about that, health laws and all...
However, while you do make great cookies, maybe a better idea would be to serve as a pick-up and delivery boy to various places? Give your customers a list of stores/delis you'll visit once a day and bring by lunch. That way if there's a vegan, a sushi enthusiast, and someone who just wants a ham sandwich, they can all order from one spot.
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3rd September 05, 10:49 AM
#6
dread,
just caught up on this thread and a thought occured. i seem to remember places called "ding joints". no posted prices but anydonations were cheerfully accepted. turns out that most people GIVE more than they are willing to pay!
just a thought and there is always the chance of getting stiffed on any given transaction but.....in the end i whink folks will step to the bar and do as they feel is right!
best of luck!
macG
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3rd September 05, 11:02 AM
#7
All the support for the idea and well wishes are are a sign that XMarks is full of good guys.
But don't let that get your hopes too high.
Start by visiting the stores and offices with some samples. Let the business start at the bottom and grow organically. Try to grow too fast and you will get into trouble one way or another.
Boring advise? Maybe, but a business is a garden. Let it grow at a natural pace and keep the weeds out. A little fertiliser here and there helps but too much BS will kill a garden quicker than too little. Once the roots are down deep, then you can hope for some blossoms.
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