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Hi Chuck, PM Sent.

Hi Craig, Thought you were doing your knives under SP? Ok, its an LLC. I would suggest to you that if the only differences you see between an LLC and a SP is the protection against Law Suits. I would suggest you need to do a little more research. How about the difference in the tax...

Hi Eric, You need a new CPA. Sometimes Accountants can be "near sighted". You should ask him if he is a Sole Proprietorship. I'll be he is not. Craig is set up as a SP for his knife business, but his other business is a LLC. I think the standard answer to someone starting a new...

Hi Les, Regarding the custom knife market, while on one hand there is a lot of help between makers and commrodarie shared by those involved in custom knives. There is also a lot of jealousy among makers. As it seems their work is as good as anyone's...it is just bad luck that they aren't...

Hi Les, That is just my perspective. Other dealers will look at things differently. Richard wrote that he spent a lot of money in advertising (I don't know if that was for the particular maker he was talking about or just for his shop). Regardless he felt that the maker owed him...

Hi Les, My point was that the relationship between maker and dealer is first and foremost a business relationship. If I am not marketing your work to a broader audience than you reach...there is no reason to work with me. If your knives don't sell (for whatever reason), there is no...

Hi Ernie, It will depend on what your state requires. In Georgia a CPA can set up a LLC. At this point you have all year to get your tax strategy in place. I suspect you won't need a Tax Attorney for a couple of years.

Hi Les, I view my relationship with a knife maker as first and foremost a business relationship. The object of that exercise is that the relationship is mutually beneficial for both. I know that when I start working with a maker (especially if they aren't well known) that they are going...

Hi Craig, Stating that the main advantage is to protect yourself is wrong. Probably the biggest advantage is the lower tax rate. There are a few more (of the many) listed below. How about: 1) Lower tax rate 2) Set up a corporate IRA (SEP) 3) Forces separation of personal and...

Hi Knifemaker 3, When someone asks a question about "business" I answer in that vein. Actually it provides you with a level of security with regards to law suits. If someone decides to sue the maker...they can only go after the business. The way you are operating, they can come after...

Hi Richard, Net-30??? Your "Factory Knife" business is showing. I have been at this 25 years (selling custom knives...no factory stuff) and "Net 30" has never come up among the custom knife makers. Actually I don't know of a maker that would wait 30 days for their money or a custom...

Hi Bigern, While what George may have made sense to what him...he is wrong. I have been selling custom knives full time for over 15 years. This is my only source of income. Yes, I have something left over and "Expense" everything that I legally can. Remember, George lives in...

Hi Les, Have him send you the check and let him know that it has to clear your bank before you can ship. If he is in a hurry suggest a Western Union Money Order. Make sure to cash the Western Union MO where you pick it up at. I have had had numerous clients over the years who have...

For the majority of my shipments overseas I use USPS Global Express. In 12 years only 2 boxes went missing...one was eventually returned and the other the insurance paid off. I ship hundreds of boxes each year using this service, very reliable. The problem with Global Priority mail is...

hi Chuck, I will get you Global Recognition for $150 a month...I just put you on my website. :D Search Engine Optimization is pretty straight forward...lots of companies offer this. It should cost about $300 a year...not $250 a month. Two Les's agree...just say no! :D

The question that should be asked is "what will be the HOT knife in 2010".

HI Tim, Excellent post. Thanks for doing that.

HI Mark, Rick has always done spectacular work. Did you get those directly from Rick?

Hi Travis, A hobby becomes a business the second you decide that you want to receive payment for something produced within your hobby. I wrote an article in Blade earlier this year about Business Entity's. Yes, there is additional paperwork involved. That is what your account is for...

For those of you who consider yourself a business. Which business entity are you set up as: Sole Proprietorship LLC (Limited Liability Company) "S" Corporation "C" Corporation For those of you who are "hobby" maker's do you include your sales as part of your personal income?