Reptile & Amphibian Forums

I was wondering, how do you guys claim your taxes and how do you add tax into sales and give the governemtn their portion. I mean i understand not worrying about the little ones but i mean when you start selling some 20,000 dollar snakes and start to rake in some serious 6 figure incomes I bet Uncle Sam wants his cut. How do you go about doing all that, im just curious because when i do start to sell my snakes im going to need to know how to go about doing that. the last thing i need is a government official comming to my house and handing me a bill for the sales tax on a ball python. oh and just a precautionary statement, i do not believe i will ever make six figures in snakes, just using it as an example.

Hello,

We are an incorporated business but you can set up your operation as a sole proprietorship easily. Incorporation is also a VERY simple process but there are various tax beenfits to being either S-Corp, C-Corp, Sole Proprietorship, Limited Liability Corp (LLC) etc.

I would suggest contacting a local small business acountant to advise you on the best method to fit your needs. Most small biz accountants would offer this consultation fairly cheaply and be VERY helpful to you. Much better to do it right the first time than have to re-organize everything after you have started.

Hope this helped...

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Sean Bradley
Owner : EbN
www.ExoticsByNature.com
www.BallPythonMorphs.com
www.CornSnakeMorphs.com

I could actually understand what you were saying!

sip-sip

Sales tax is collected for the state on each sale 5n state. You will need to acquire a tax ID. You can file a "c" schedule if you do not want to incorporate. Just use a cash method for income taxes. Profit loss. I would get a CPA for help. I use Quick Books for the record keeping. Pete uses it too the last time I was at his place.

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RicK Denmon

Ball Boutique,Inc.

yep.....

On my honor I will do my best

To do my duty to God and my country....