Excise tax

[Kevind62]

Not 100% true. Once you add in material cost, shipping costs, labor costs, energy costs, advertisement, material consumption and testing loss (have to test each jig style in the "lab"), and storage fees you'll not show a profit for at least 3 - 5 years so you're tax exempt at this point.

[ksnouf]

Not 100% true. Once you add in material cost, shipping costs, labor costs, energy costs, advertisement, material consumption and testing loss (have to test each jig style in the "lab"), and storage fees you'll not show a profit for at least 3 - 5 years so you're tax exempt at this point.

Well the 720 form says 10% of sales.....not profit so I think I'll pay it.

[Kevin22]

Not 100% true. Once you add in material cost, shipping costs, labor costs, energy costs, advertisement, material consumption and testing loss (have to test each jig style in the "lab"), and storage fees you'll not show a profit for at least 3 - 5 years so you're tax exempt at this point.

Theres no writeoffs for 720, and its on sales