Our numbers were small last night, but we had a great time as usual and hopefully everyone enjoyed the discussion about creating a competitive Etsy shop as we head into the holiday season. I'm linking up my meeting discussion topics here. My five year old dropped my camera yesterday afternoon and killed it dead so I've got no photos. The notes are a bit rough since they were just my talking points last night, but I've tried to flesh them out a bit so they make sense even if you weren't there. Enjoy!
Also, for our November 9th meeting, I'm trying to find someone to come and talk about the basics of starting your business. I'm looking for an accountant who can explain all the tax write offs and tax credits you can claim by licensing your business and getting a sales permit. If anyone already knows someone with this expertise, please let me know. I think many of you would be surprised at how much money you can save by getting your business license (and of course, we should all get one anyway for legal reasons). The November meeting will be at Studio 8 Ten.
We also discussed having a Christmas party on Thusday, December 16th from 7-9 where everyone brings a Secret Santa present to the party along with a pot luck dish. The December party will be at Findley Chevrolet on the 215 and Jones.
10 comments:
I have a question. I didn't think u had to have a biz license if you make under 25,000 per year. I have a copy of that that I printed out and have tucked away.
I think as long as u have a tax number u r ok.
I can copy it and post it if u would like to see it.
I think the Secret Santa/pot luck sounds wonderful. We should put a minimum/maximum on the cost of the gifts. When I've participated in these before, some people are great participants and others are not so great.
Sorry I was unable to make the meeting but had some last minute health issue to do deal with.
Sarah sorry that camera hit the dust...
LOVE the idea of secret santa... If anyone who can make meeting they can mail it..
I am sorry I was not able to attend I teach private lessons on Tuesdays. I think the party and the Nov meeting topic are great!! I would like to know more about the legalities and how to's from a professional also. Sarah, I almost lost my camera while in WA, my dear friend found it and it is in the mail at this moment.
a horrible thing to happen- so sorry... Heather
I am interested in learning more about starting my own business. Kathy, I would also be interested in seeing the paperwork that you have.
Opps
Sorry didn't see last message.
Send me your email and I will scan and copy it for u.
Well, I had a copy and still searching. But I got it from the Dept. of Taxation web page. They could have changed things to who knows.
I will keep digging.
Q: What businesses are exceptions to or exempted from needing a State Business License?
A:
Nevada nonprofit corporations formed under NRS Chapter 82 and Corporations Sole formed under NRS Chapter 84 are specific exceptions and are not required to obtain a State Business License.
In addition, specific statutory provisions exempt certain businesses from the requirements of the State Business License. These businesses must still initially submit the form, WITHOUT FEE stating the specific exemption. The Statutory exemptions are as follows:
• A governmental entity.
• (b) A nonprofit religious, charitable, fraternal or other organization that qualifies as a tax-exempt organization pursuant to 26 U.S.C. § 501(c).
• (c) A person as defined in Title 7 of the Nevada Revised Statutes, who operates a business from his home and whose net earnings from that business are not more than 66 2/3 percent of the average annual wage, as computed for the preceding calendar year pursuant to NRS Chapter 612 and rounded to the nearest hundred dollars. The average annual wage generally fluctuates each year. 66 2/3% of the average annual wage for 2010 is $27,000.00.
• A natural person whose sole business is the rental of four or fewer dwelling units to others.
• A business whose primary purpose is to create or produce motion pictures. As used in this paragraph, “motion pictures” has the meaning ascribed to it in NRS 231.020.
• An insurance company licensed pursuant to NRS 680B.020 not conducting business not incidental to Title 57.
I hope this helps.
I think that is what it means they changed it now to 27,000
Thanks for this, Kathy. But isn't this just saying that the fee is waived? I think you'd still need a home occupation permit and seller's permit through your city as well as notifying the state. And this means you'd be collecting tax and would need to be registered with Nevada tax. We'll ask our CPA at our next meeting to see if he can clarify any of this.
Post a Comment