File puptcrit/puptcrit.0412, message 69


Date: Tue, 7 Dec 2004 17:14:42 EST
Subject: Re: [Puptcrit] Small business question...
To: puptcrit-driftline.org-AT-lists.driftline.org


Thanks, Naia:

We, too separate the personal and the business and make the distinction on 
our state and federal tax forms and pay appropriate income taxes. We are not, 
however, "registered" as a business. 

I should have mentioned that I was concerned with a company that tours, 
operates out of a home, with a small shop/studio in the basement and an in-home 
office.

The "assets" you speak of probably include your puppets and related equipment 
and possibly a van. Is this correct? 
Our equipment is years old and no longer falls into the "depreciation" 
category. Evaluating the puppets for tax purposes (personal property) seems to be an 
interesting problem.
Care to comment?

I really do appreciate that any of you would take the time to respond. 
Thanks.

Fred T. 

<< I run Dreamland Theater in Michigan as an LLC. I started it as a sole
proprietorship, but was strongly urged to separate my private finances
from the businesses - so I did. The name and the business are both
registered with the state. I do have to list the business assets, and
pay the appropriate taxes.

Naia Venturi
www.dreamlandtheater.com >>

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