Greetings All,
Would anyone be willing to give me advise?
I am wanting to start a "hobby business". Meaning that I want to start a small engraving business but I do not think/know that I will meet all the IRS requirements to be considered a business. So I do not have a clue what to do about taxes, any advise?
I cannot decide on what type of machine to get. The Full Spectrum 5th gen hobby laser looks nice due to its $4500 price tag. But, I am concerned about ease of use and overall quality. The next machine I am looking at is the RAYJET 50, current quote is between $8k-$9k. Last is the EPILOG not sure on a ZING 24 or a 18Mini.
Currently have potential customers waiting. They are a home brewer, having bottles personlized, making parts for signs, engraving farewell/retirements plaques, wooden nickels etc. Planning on using alot of the knick-knack things from laserbits.com, plus anything anyone asks to be marked or made.
I do have access to some people that have and can provide training. I have used an Epilog 36EXT.
Questions:
1. Any advise on how to fund a machine?
2. How to deal with taxes for a small venture?
3. Suggestions, pros, cons on different machines?
4. Should the type of rotary attachment be a factor in what machine to get? ease of use, production rates, repeatability, etc
Thank you,
Nathan Shaffer
Vandenberg AFB California