Oh oh...

Word of advice, start your bookkeeping and accounting from day one. Do monthly statements. Be sure to file everything on time.

Make it a habit and routine. A lot of folks let that business part of business get away from them. It is very important to track all cost and determine true profit. You will now be looking to save on what you need to pay taxes on. Keep all receipts and try to log your time as part of your cost.

Congratulations and welcome to the business side of our journey!
 
I will certainly keep that in mind. Probably need to read some books on the subject, as I have no clue how to handle the taxes and such.

All finalized yesterday. Lunar Eclipse LLC is now a thing!

I have got to figure out maker marks. So very bad at that sort of thing.
 
Keep up with your book work, my dad used to do a years worth of book work every year at tax time and I tried to always tried to find something to do out on the farm somewhere, anywhere. Ed
 
Remember to keep a file just for receipts. A lot of things like vehicle maintenance costs, shop improvements, and new equipment can be written off at the end of the year. Have a consultant go over your taxes with you each year. In example, if you travel to attend a knife show you can write off your gas, hotel, food, booth cost and any special equipment like display boxes. The receipts may not seem like much at the time but they add up.
 
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