I do what Michael does. I sell 8x12 prints for $20 and if I had to deal with
selling them for $21.10 I would be a pain in the butt!
Cash sales are so easy I just back it out later, tale a 5.5% loss for the ease
of selling! Most people don't by $300 pieces or art with cash anyway!
I also report ALL sales to the State Dept of Revenue.
personal checks? What are those again? I once heard about those!
Rod
Melotte Photo Imagery
Photography With an Edge
________________________________
From: michael cothran <michaelhcothran@comcast.net>
To: artshow_photo@yahoogroups.com
Sent: Wed, February 23, 2011 8:01:41 AM
Subject: [artshow_photo] Re: Sales Tax
--- In artshow_photo@yahoogroups.com, "joanjett074" <joanjett074@...> wrote:
Do you charge the customer tax on top of that, or do you charge them $40 and
then figure out all the taxes at the end of the show when you have to pay them?
Thanks.
Either way is ok. The second way is called "backing out" the tax. This way will
yield you less gross at the end of the show, but works well with cash, as you
don't have to deal with a lot of change. For credit card sales and check sales
it makes no sense NOT to add tax to the sales amount.
It is also ok to do both at a show, as I do. I add tax to credit card and
personal check sales, but back out the tax on cash items. In essence, I am
giving the customer a "discount" for paying cash. Many of my customers opt to
pay with cash when offered the choice.
FWIW - I DO report ALL sales to the State Dept of Revenue and to the Feds. In
other words, I don't cheat, nor do I recommend that to anyone regardless of how
you figure in your sales tax.
My average take per show (using this dual methodology) is about 35% cash, 60%
credit cards, and a sprinkling of about 5% in personal checks.
Michael H. Cothran
[Non-text portions of this message have been removed]
http://artshowphoto.com/support.htm
PLEASE READ....PLEASE TRIM POSTS!!! Keep quoted material short.
Repeat or create accurate subject lines.
If you want to advertise services related to art shows or photography, either in a forum post or on the resource web site, please contact the forum owner for permission.
Resource web site at
http://ArtShowPhoto.com
0 comments:
Post a Comment