Just Starting Out

[BRTOKC]

Hello everyone. Let me say first that I am a first timer to Blade Forums and think this is a great resource for all the beginning and established knife artists and craftsmen.
My question is what type of business setup, corporation,limited liability corporation, or sole propietorship do you feel is the best for a person who wants to make knifemaking a full time occupation?
Any comments or suggestions will be greatly appreciated.
Thanks in advance, B. Tomberlin

 

[Gus Kalanzis]

Hi B. Welcome to the forums.
In hopes to get more response from makers, I will copy this question to the Shop Talk Forum also.

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" The real art of living is too keep alive the longing in human beings to become greater versions of themselves." Laurens Van der Post.
In memory of James Mattis

 

[John Yeackley]

I think it depends on how serious you are on the business end of it. I've owned a business for over 15 years and have found out it takes as much time to run the business as it does to produce the product. There are benifits to a corporation if you take the time to "run the business". My problem has always been that I'm too much of a hands on owner. When I'm producing the product I should be running the business, when I'm running the business I should be producing the product. Thats just my delema, and the way I am. Some guys can do both. I think you need to figure out the way you are.

My opinion is that a corporation is the best way to go because of the tax benifits. I am an LLC now. Seems to work the best for me with alot of the same breaks. Small business owners are not handed any breaks they have to work and fight for them.

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