I have been woodworking my entire life, the whole 18 years of it haha, and I have the skills to design and build quality projects. SO i want to put those skills to work and make some money by starting my own very small business. Just generate enough profit to act as part time income for a full time college student. Just looking for a bit of help with some of the finer financial points of starting a business. I am wondering what markup should be on projects. Obviously you add cost of materials, time and overhead but what should profit be? I am interested in an LLC for my business structure I am wondering how taxes work and if I need to charge sales tax on my products? I have been going over sba.gov and like website and the many article on LJ for help. Thanks in advance for your input!
-- T. Suess