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| General Business Discussions This is a general purpose forum open to business related topics concerning Reptiles and Amphibians that are neither appropriate for the Board of Inquiry, nor sales, purchase, or trade solicitations. |
05-04-2013, 09:29 AM
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#11
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I'd like to jump into the thread, as well. I am also starting to grow very quickly with my own sales of BRBs. Am I wrong in thinking that any net profit that does NOT exceed $5,000 does not have to be claimed? I'm thinking back to highschool when I had a summer job, didn't have to file because I only made 3k.
I would assume the profit of the business latches onto the wages of of a day job to create a total income of the individual, but if the profits are on a business account, seperate from the individual, does this concept still apply? or is there a different set of rules for a business?
Hope I explained that question well... some times what I think in my head doesn't quite translate through my fingers well lol.
Thanks!
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08-13-2013, 06:00 AM
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#13
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Wondering the same.
I live in the Bay Area of California and I was wondering a similar thing. I plan on breeding Rhacs and want to know how I could go about avoiding IRS/ business license stuff as I don't believe it's necessary (a least not in the beginning.)
I'm literally at the beginning state of breeding, having six crested babies all under 10g.
What would be the benefit of getting a license? Without? What exactly is a CPS?
Thanks!
-Kris
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