Home business

[PrincessPerky]

So I am a bit behind here but.

What I like to do, and do consistantly, would be play with kids and teach them, but not other peoples, can't take the parents. Is there a way to do that without having to deal with parents? I mean not tecnically obviously, but for the sake of the saving, which I am totally trusting that Jeffery will one day explain how it would save money. I actually would put up with parents if I had to, and I ned the money so I might have to, I teach my own so it wouldn't get to much in the way of my day. but I wouldn't know how to let people know I can teach without spending money.

[jeffrey]

Re: Home buisness

I think you have a number of ways you could set it up depending on what you wanted to focus on.

1) You could do a "day care" situation (these have slightly different rules for a home business) but still offer a lot of tax advantages.

2) You could offer classes to parents and their kids on HOW to play and teach children and charge for the classes

3) You could offer classes to parents and their kids on how to play and teach children for free and sell the toys that you use in your demonstrations.

As for letting people know, by far the best resource you have is word of mouth. Just start telling friend and family that you are doing it (and everyone else that you meet) and you will slowly get customers. If those customers are satisfied, then they will recommend. This was of advertising takes time, but it is free.

For very little, you can also post notices in public areas around town. The local library, grocery stores, or hand them out to parents at the playground.

[PrincessPerky]

Re: Home buisness

So not doing daycare! I wouldn't have enough stuff to teach a kid for more than an hour anyway!

but I really like the idea of a class using my toys and then just selling the toys, that is cool.

Thank you.

Know how my DH who likes to write can make money when he doesn't ever finish a book? (wish he would, the stories are awesome)

[PrincessPerky]

Re: Home buisness

Me again, sorry still behind a bit, but does a closet count for exclusive space? And I can't quit using my desk for regular household stuff but I could move my toy stuff to a different desk, the one in my sons room is used for teaching him only, he would loan it to me for toy stuff. which would make a whole corner of his room 'buisness'. will that count?

[jeffrey]

Re: Home buisness

Me again, sorry still behind a bit, but does a closet count for exclusive space? And I can't quit using my desk for regular household stuff but I could move my toy stuff to a different desk, the one in my sons room is used for teaching him only, he would loan it to me for toy stuff. which would make a whole corner of his room 'buisness'. will that count?

It sounds like it would to me...but then I'm not an IRS official. If you feel confident that the space is only used for the business, then there should not be a problem (and the chances that an IRS official is actually going to come over an look are not very large). The times they do is usually when you are claiming a large portion of the house (over 20%).

If you make the area a "business area" then you should be fine.

[PrincessPerky]

Re: Home business

Heh, well it would be barely putting me into the 10% range, umm ten percent of 1100 is 110 sq ft right? K so it would make it umm 3*5 is 15 for the desk plus the 2*2 of the closet. maybe I can clean more of the clost out, they don't mind if a kid walks thru the buisnes space alot do they? so long as he doesn't use it right? So just how much space does it need to be to be official and worthwhile? I didn't start wiht how do I find 10% of the house, I started with what can I give up, and what have I already given up.

[PrincessPerky]

Re: Home business

OK I am going to do the class thing, classes for adults where they could buy the toys, and classes for kids, cause honestly I like playing with kids more than adults Plus I love teachng kids to read! And the parents can always buy the toys I use to take home with them and teach the kids at home.

Anyway. are you sure I don't need a license?

And I skipped the bookeeping thing, cause I am such a kid about that sort of thing, what exactly do I have to keep track of?

And thank you so much for putting up with my silly questions and stuff, I really apriciate this.

[Stacyjh]

Re: Home business

You should keep track of all your income from the classes(if you decide to charge) and the toys. Keep a list with the customer name, date, check number, amount, and what they paid for. You will probably have to collect sales tax on the toys, so you will have to keep track of this as well. Once a year you will have to send in your sales tax to the state. It's not too difficult. Keep your bookkeeping simple. This will save you time and you will have less confusion. I would also set aside a time each month, week, or day(depending on how long it takes) to make sure you keep your books stay up to date. Another thing that will help keep your business separate is to open a separate checking account. This may not be nessessary at first, but as you grow it will become helpful, so I would just do it from the beginning. Good luck and let us know how it goes.

[jeffrey]

Re: Home business

Anyway. are you sure I don't need a license?

You can check with your local government office whether you need to get a liscence for the home business. I've never had to in all the places I've lived, but there are some places that require it.

And I skipped the bookeeping thing, cause I am such a kid about that sort of thing, what exactly do I have to keep track of?

For your business, any and all expenses that relate to it. that means all the toys that you play with and show can be deducted as expenses. Paper, pens, record keeping material, etc. If you use it for preparation or in any way for the business, then it should be listed as an expense.

[jeffrey]

Re: Home business

So just how much space does it need to be to be official and worthwhile?

Any amount is worthwhile...add up all your utilities plus mortgage payment/rent. Multiply that by 12 and then by your 10%. That will give you a basic number on what you can save. If everything adds up to $1000 a month, you're looking at $1,200 with 10% space that can be taken "tax free"

[PrincessPerky]

Re: Home business

OK I did it, I got a book, and wrote down what I should keep track of, I also told my neighbor about it, she thinks I am crazy.

[terry1156]

Re: Home business

Congratulations. Maybe you can make up a number of short lesson outlines and hand them out to people to get them interested in it.

[PrincessPerky]

Re: Home business

K I did think of some class themes or whatever, anyone mind letting me know if any look interesting?

I am so not good at outlines, but I could do a short summary or somthing. Also I remembered that my community has a room at the pool that I could use for lessons,should be freeif I offer help with the newsletter, and might give them incentive to send out their newsletter in hopes of getting more invovement out of the place.

Parent class

1. Living the learning lifestyle: how to live the life of learning you want your child to follow.
2. Tools of the trade: tools children need to learn, and ones they don’t need.
3. Genetic learning: how children are programmed to learn, what you can do to help.
4. Little mini learning: how little people soak up big thoughts.
5. Schooling myths: how you can help your child learn without class work.
6. Directed learning: who decides what your child learns?

[miclason]

Re: Home business

1,2, 5 and 6 are the more appealing to me, based on name and content...if you help them with the newsletter, maybe you could advertise there as well!!

[PrincessPerky]

Re: Home business

Thanks, I am hoping on the newsletter thing.