Saturday, October 25, 2008

Paying Taxes

One of the weirdest things about owning your own business is being responsible for paying your business taxes. I actually have a license to charge people sales tax, AND I don't have to pay sales tax on stuff if I don't want to. That's pretty weird, huh?
Taxes for 3rd quarter are due today so I had to pay both federal and state sales tax for my company, which is pretty fun even though it's a pain in the butt. It makes me feel really important logging onto a federal database and paying taxes. Woot woot!
I kind of messed up on my state taxes, though, because I forgot to include my tax exempt payments, so I had to log on twice. No biggie.
I kind of feel like paying taxes for my company is like a temple recommend interview for my business. It forces me to look over my income and expenses for the quarter and really closely evaluate my company's financial situation. It was really good for me to do that, because I've been stressing about that a lot lately. I'm not great at balancing accounts, despite my step-mother's religious attempts to educate me in balancing my checkbook as a teenager. So it was nice to find out today that I actually have about $1000 dollars more than I thought and that I actually owe about $2000 less than I thought. Heck yes! Go dress store! Go!
Also it kind of gave me the justification that I need to start seriously looking for a bigger store front. I found a nice place up the street from where we're at. It's a funny floor plan, though, so I am not sure if it will work for us. I'm going to devote a large portion of the afternoon today to trying to map out a layout that will work for us in that floorplan. The space is renting for $800/month for about 900 sq. feet, which is well under market value. It is upstairs, but they'll give us about 10 feet of signage up front and a private entrance. It has a bathroom with a large tub that we can use for tea-dying as well as a kitchenette area which I'm not sure what we'd use it for, but might be kind of nice to have. It's very open and light and has the possibility to expand. It comes with free internet and electricity, but not gas, and has a private thermostat.
I'm not entirely sure how I feel about it, and it's certainly not as nice as the place we found over Einstein's on Center Street, but it's literally half the price.
So today's post doesn't really have a moral. It's just a quick peek at what I do for a living. I draw pretty dresses and play around with a lot of numbers. Wow. Isn't owning a dress store exciting?
P.S. we cleaned up at the bridal fair last week. I'm going to spend the next hour contacting the 35 gals who left us their contact info. Sweet, huh? The Little Miss Utah Pageant also wants us to make them about 50 dresses. That should be a nice contract to have, if we can do it well.

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