it was good while it lasted

Good to hear from you again, Reyd, and condolences on the work situation. On the bright side, you have time to look for something new.

What about talking to custom cabinet shops, etc?

====>Not to worry, Reyd, check out ol' 81's post in alt.binaries.woodworking.pictures! You might all ready be employed and not know it. As to "LDD" not being heard from, so many turners who have come to see the light are too busy turning green wood instead of bagging, baking, frying, pressure cooking, boiling, freezing, and waiting for a couple of years to see if it cracked, split, and/or warped. Don't have time to discuss it, just using it. Hope you bought detergent stock, Reyd!!

Leif

I hope to, unfortunately I have very little flatwork experience. plus since I am still in school I cannot work during the day monday-friday.

two good sides are, the job will come back when the stock runs down again, I am the only one who produces the items I do at the speed I do for the cost I charge:) I have more then a years experience, spent hours fiddling with grinds and cuts to get the cutting just so with no failures. (avg failure rate of 1:50) and I figured out the production for making rough blanks about twice as fast as the original. (having all the right setup at my house doesn't hurt the chances either)

I have time to turn for me again. I can't wait to make a piece that I can actually call mine to keep:D

I like the sound of that, unfortunately my newsever doesn't support that group.

As to "LDD" not being heard from, so many turners who have come to

unfortunately I didn't, but who knows, I just might get the chance to try some myself soon. perhaps you ought to get into the market of a liquid dish detergent type specifically for the woodturner(with advertising about less mess for SWMBO)

Try alt.binaries.pictures.woodworking

;-)

Or this:

I retired and started my own turning business. Running 20K+ net with 15+ tax write offs. Truck,insurance,gas,repairs,land taxes,electrical,tools and the list goes on. I have been working< CORRECTION PLAYING< 10 to 20 hrs a week and having a ball. Anyone with a one car garage can do the same. See my site for more details and call me 0800 to 2200 CST 7 days. Cost: email me a cup of coffee.

Isn't Reyd a Canadian??? Perhaps their government looks more closely into such "schemes!" *G*

Leif

It's quite easy to start a business in Canada, and if you break even in the first few years (I think the actual terminology is "reasonable expectation of making a profit") the taxman won't audit unless you're caught up in a random check (which can happen). They do pay attention consistent losses from a small/home business as it looks like a tax evasion (as opposed to avoidance, which is legal) scheme.

unfortunately I don't have that kind of space or money to play with at the moment. my largest 3 tools are general maxi lathe delta grinder general tablesaw I'm still in school(last year of secondary) and I share the garage with a boat, plus I don't have the start up cash for that kind of project right now.

hopefully I will get hired at the local shop that does similar things to you and get some experience there first.

thats quite the number of write offs you've got going there, sure they aren't going to come check them out sometime?

(US tax law, layperson impression/understanding)

So long as you make a profit on a regular-enough-basis, (3 out of 5 years?) you can be a business for tax purposes, as best I understand it. Write-offs associated with the business need to be legitimately involved in the business, whatever it is. If you'll never make a profit, you had better treat it as a hobby, or the tax man will cometh and maketh you payeth. I have no idea about the details if you want to set up as a non-profit company, and I have yet to get my ducks enough in a line to make a go of it as a for-profit company, so I hobby for now.

That was an easy enough decision when I sat down and looked at the difference between tax deduction and tax credit - when something is tax deductable, you're still paying for it, you just get a reduction on your taxable income, resulting in a savings of the 25-30% or so that you would pay out in taxes on that amount. In return for this, you have a lot more paperwork to keep track of, file, etc, and you also have more taxes to pay (for a simple small business, the self-employment tax). If you sell retail, there's sales tax you need to collect and do more paperwork for, or you need to limit your sales to people not from your state, and never in person (selling only by shipping things out of state).

I do consider various ways of lining my ducks up such that I can have fun and make a profit. Having fun is the required thing for satisfaction either way, and making a profit is only required if it's to become a business. I do not want to become one of those people who ruins something they used to like doing by doing it for profit, and finding that the requirements of profit destroy the fun they used to have...

Leif