Free motion practice
07-05-2010, 07:22 PM
#1
Junior Member
Thread Starter
Join Date: Jun 2010
Location: Murphy, TX
Posts: 143
Okay, I really like quilting panels. They are usually very cute before I start my destruction. Here are a couple of my efforts. I really need to figure out the spacing, speed and stitch length. I know that's just everything but.... So my hair brained scheme is to get my husband to help me set up a website where I can "sell" my quilts. That way I can write off some of my supplies and perhaps a long arm to the business. Since I doubt at this level of experience that I will ever sell one, I was wondering. Does anyone know how much I have to make to call it a business? I really have made better than these, I just don't have pictures.
alittle closer
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some of the quilting
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just loved these fabrics
[ATTACH=CONFIG]82097[/ATTACH]
07-05-2010, 07:52 PM
#3
Super Member
Join Date: Feb 2010
Location: SW Iowa
Posts: 1,139
Your accountant (or a friend who is a CPA) should be able to tell you about what you have to make for it to be a business. If you don't make enough, it is a HOBBY and not a deductible expense. I know, as my mom's ranch was not making a profit every year, and our accountant was getting concerned. Mom has been gone 5 years now, and I am about to close her estate at last.
07-05-2010, 08:48 PM
#7
Super Member
Join Date: Apr 2007
Location: North Carolina - But otherwise, NOTW
Posts: 7,940
Those swirly lines look like my "meandering" I do on my shortarm system. I like them a lot...they cover a lot of ground, and can be made to fit anything. Good work!!!
You could also try selling on Etsy, where a lot of people on this board have sites. Competition out there is extremely high, so....it's really a gamble. Think about it before you spend money on a website and all. You can do charity quilts and write off those supplies as charitable donations. Just get the organization to give you a receipt for whatever the "market value" of the quilt would be.
You could also try selling on Etsy, where a lot of people on this board have sites. Competition out there is extremely high, so....it's really a gamble. Think about it before you spend money on a website and all. You can do charity quilts and write off those supplies as charitable donations. Just get the organization to give you a receipt for whatever the "market value" of the quilt would be.
07-06-2010, 03:10 AM
#9
Senior Member
Join Date: May 2010
Location: New Jersey
Posts: 573
The quilting looks pretty good from here!
As far as business goes, you have 5 years to turn a profit or the IRS will decide it's a hobby. Howeever, the IRS does not say how MUCH of a profit you have to make (you could be in the black for 100 dollars and then it counts). The thing the IRS looks for are things like keeping proper records, how much money of yours is "at risk" in the business, and stuff like that. They will also take a closer look if you are also employed by someone else. However, I am not a lawyer or an accountant. I'm just a micro-business owner.
As far as business goes, you have 5 years to turn a profit or the IRS will decide it's a hobby. Howeever, the IRS does not say how MUCH of a profit you have to make (you could be in the black for 100 dollars and then it counts). The thing the IRS looks for are things like keeping proper records, how much money of yours is "at risk" in the business, and stuff like that. They will also take a closer look if you are also employed by someone else. However, I am not a lawyer or an accountant. I'm just a micro-business owner.
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