The columns are filled in for 2013, the bottom lines have been totalled. I do not practice 'creative accounting', work in absolutely no spin, am perfectly honest, and completely transparent. And am happy and satisfied with the report!
Pretty Cheap Jewelry 2013 Year End Report:
Expenses (materials, fees, ads, postage) ~ $1,925
Income (sales, and only actual sales) ~ $2,000
WHEE - that is a $75 profit.
In coming weeks I will compute an acceptable measurement of overhead (sales tax, state tax, mileage for work travel, home workshop), and that will be a very good deduction on my total income tax.
Perhaps I err on the simple side of bookkeeping. I do not do year end inventory, do not claim questionable expenses, do not even obtain loans for expanding the business. I prefer to spend only what I make. AFTER I make it.
If anything, I underprice and don't include enough for my own labor or design skill to make more profit.
Well I sleep soundly. And that is good enough for me.
Can you campaign committee members who are reading, say the same thing?
++++ January Special ++++
Eternity Circle Necklace with Garnet (January Birthstone)
Simple and timeless, a garnet charm hangs inside an endless circle. This is a 2 strand weave. A flourish at the bail adds just the right amount of style. See more
Priced to fit the frugal budget. A handmade original.