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      Wednesday, January 28, 2009

06:41 AM - 01/28/2009

The topic: So, end of the year tax stuff


I have to fill out this form for the California State Board of Equalization because I have a resale certificate. Which means I don’t pay sales tax on things I buy that go into the jewelry I make.

I can only deduct this portion from what I actually sell.  For example, I buy ten beads at a buck each, that’s ten dollars, add 7.75% tax and it’s $10.78 to me.  Not a lot, right?  So, I use one bead in a necklace I sell in California for nine dollars.  I charge $9.00 plus 7.75% tax, or .70 cents for a total of   $9.70.  Of this .70, I can deduct the sales tax I originally paid on the one bead. Less than eight cents. 

So, I listed out all of the invoices from my store last night.  Thirteen.  Yeah, thirteen. And the grand total that I sold last year?  Wait for it….


Brian just laughed.  He said “and how many thousands have you spent on beads?” 

Oh, shut up.

Hey, you guys, go buy something!

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lisaviolet is sixty something, married with no kids, takes care of lots of cats, likes taking photographs, loves Southern California weather and spends altogether too much time avoiding her responsibilities.

In her spare time, she makes pretty things to sell in her store.

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