Selling Corals for Profit $$$

[reefermadness]

in my last three orders from sponsors here on canreef i havent been charged taxes , receipts and these are household businesses, nothing wrong with that and its not a new thing but the times are a changing and people learn the ropes as they mature in their journey

Out of probably half a dozen LFS I visit in the area only one charges tax. I can only assume that the rest are paying taxes that are built into the cost. I also assume that there are some questionable tax procedures for these businesses (that happens in all sectors) and even more so if its a home business. Ie. everyone loves a write off but no one likes to pay taxes.

last month i am into corals for almost $3,000 ive probably sold $200 worth of frags lol i think most months is like this and i tell myself im sure ill break even as time goes by but i dont i just keep hoarding more coral lol im not perfect so i do lose corals from time to time and sometimes its a big hit.

I remember those times. Its a lot of money and I always told my self and others that you have to be prepared to loss it all. Its a risk, addiction, maybe similar to gambling? haha

I'm a recovered coralaholic so please to make me relapse. haha

[reefwars]

Originally Posted by reefermadness

Out of probably half a dozen LFS I visit in the area only one charges tax. I can only assume that the rest are paying taxes that are built into the cost. I also assume that there are some questionable tax procedures for these businesses (that happens in all sectors) and even more so if its a home business. Ie. everyone loves a write off but no one likes to pay taxes.

I remember those times. Its a lot of money and I always told my self and others that you have to be prepared to loss it all. Its a risk, addiction, maybe similar to gambling? haha

I'm a recovered coralaholic so please to make me relapse. haha

lol yeah i cant get away from it its addictive and right now its the most fun ive had in the hobby in all the years ive done it ,the collecting..hoarding and hell im even sentimental on some pieces lol i read on RC you were shutting down and i said to myself , he will be back...and you will ;P

[lpsreefer]

I like butterflies.

[reefermadness]

Originally Posted by lpsreefer

I like butterflies.

That explains a lot. Thanks