Woodworker's Journal 1983-7-4, страница 16
Wood Moisture Meters INFORMATION FOR WOODTURNERS IS OUR SPECIALTY TWO DAY INTENSIVE WORKSHOPS. [SINCE 1976] MID .WEEKS AND WEEK-ENDS Tnr&uuhout the year Two students per class Sharpening and proper useot tool* tor cutting are emphasised tor faceplate and centers turning Hands-on practice In sharpening turning and finishing build skill and confidence FIRST NEWSLETTER NOW AVAILABLE MsiO' Iodic is USE OF GREEN WOOD IN FACEPLATE TURNING. Also, an apprentice's iirst day ana aids lot he woodturner as found in other prolessioirai turners' shops 24 oages-J2 50 ppd 17 00 tor first 3 issues BOTH LATHES WE USE AND SELL AHE OF THE FINEST QUALITY ANO DESIGN MYFORO UNION GRADUATE—for the turner who wants larger capacity and self contained design lltlust F Pain p 6 and P Child, p 21 16" center height Lengths K or W 6 «19W dia outboard From 12150 complete. FOB Boston ML8B 36" 5695— MLSC 4V 1770* 4" center Height 4 ^ n 13'" outboard, larger diameter with long hand rest "Motor and freight Irom Putney en Ira SEND 401 IN STAMPS for all brochures including WORKSHOP. Mytord andG'idu ate LATHES SORBY turning toots. 6 IN I CHUCK tor all lathes DOUBLE FACED TAPE (for screwless attachment of wood) HUSS I1MMEHMAN. RFD 3. BO* 59 PUTNEY VERMONT 05346 THE EXTRAORDINARY SCREWDRIVER This exciting product-THE SQUARE HEAD-is now available to fine wood working craftsmen. Used by the finest furniture manufacturers, this screwdriver/screw with the unique snug fitting SQUARE HEAD makes the slot and Philtips heads obsolete-Featuring many outstanding characteristics: ■ Heat treated SQU ARE HEADS-One handed screwing to reach difficult places * No slipping from screw head - Fastest system available * Maximum torque possible - Eliminates gouged fingers and gouged wood ■ Essential for the serious woodworker's wood shop. Send for starter set of 3 drivers with matching screws Price S8 50 plus S1 50 postage and handling includes complete list of avaiiable SQUARE HEAD products (add 5.5% in Ohio). Master Charge and VISA JEGT INDUSTRIES P.O. Box 5264 Poland. OH 44S14 »101 S5'n2tVI«18"H ft 02 20«20*22H Easy to Follow Plans Detailed Instructions Buy Your Spindles or Make Your Own Plans $5 00 Each or Both for $9.00 PEARSON'S WOODESIGN Box 9062. Hayward. W] 54843 Workshop Income (Cont'd) you to figure accurately what's called the "cost of goods sold and/or operations." This number, which you arrive at on Line 8 of Schedule C*1 of Schedule C, is deducted from gross receipts to arrive at gross profit. From gross profit, business deductions are subtracted to arrive at taxable net profit or loss. So the cost of goods sold is a crucial figure. The first line on Schedule C-l of Schedule C is "Inventory at beginning of year." That is simple enough, but don't forget that it includes all kinds of inventory. In straight retailing there's only one kind -- finished goods waiting to be sold. In manufacturing you're likely to have three kinds of inventory — raw materials (the lumber pile), work in progress, and finished items that have not yet been sold. The IRS doesn't care about the kinds, but you do. You add them all together to get the figure for Line 1 of Schedule C-l of Schedule C. If you deal only with the lumber pile you'll raise your cost of goods sold and avoid taxes that you should pay. That sounds great, but aside from the fact that it's against the law it will come back to haunt you the next year. Presumably your business will have grown and your sales will have increased. Unfortunately, your cost of goods sold, relatively, will be lowered and your taxes will go up. You could well jump into the next tax bracket, or even two. You have to consider the part of the lumber pile that's cut up and waiting to be assembled (work in progress) and the part of the lumber pile that's been turned into cabinets and waiting to be sold as still part of the lumber pile. In general, unless you run a separate retail operation, you would value iinished goods and work in progress at the value of the materials and paid-for labor (not your own) that is tied up in each item. That includes scrap that went into the stove. Once you arrive at gross profit you deduct other expenses such as advertising, bad debts, car and truck expenses, depreciation, insurance, interest, legal and professional services, office supplies, rent, repairs, general supplies, taxes, travel and entertainment, and utilities. If you're a part-time business and use your shop for personal pleasure as well as to produce things for sale it gets somewhat complicated. You'll have to apportion such things as depreciation, interest, costs of housing the shop, and utilities between the personal use and the business use. Only the business portion can be deducted on Schedule C. So how do you keep track of all this? Actually, it's not as difficult as it may seem. Since you have to report expenses on Schedule C it makes sense to keep track of them in the same form. One way would be to get a columnar pad and make headings for each Schedule C item that applies to you. Put each expenditure on a separate row and enter the amount in the appropriate column. You can total weekly, monthly, quarterly or annually depending upon how many transactions you have. Another way, particularly if the operation is quite small, would be a series of envelopes or file folders, each labeled with a category of expense. You simply file bills into the appropriate folder or envelope category, noting on them the date paid and the check number. Then you total the accumulation periodically. Either way, it's essentia) that you have backup documentation for each expenditure. A receipted invoice or a check notation together with the cancelled check will do. It's easy to overlook small expenditures — a box of screws or a can of glue - in the day-to-day rush of things. But those small items do add up over the course of a year and they are worth keeping track of. Remember, any expenditure that you can't prove will ultimately show up in the figures as your woodworking skill. It may make you feel good to see a big number that represents your artistry. But don't forget that that's the number that will be taxed. \X<\.1 NEW: Accessories (or moisture melet are now available lo measure wood moisture and air humidity during air kiln drying or seasoning and storage Cables coming from telloni/ed depth-probes in the center of Ihe stack can be connected lo tfie motslure meier tor consecutive readings al any time New Iree brochures tor moisture meters, electrodes and all accessories' EE nomat l«3« NE Morrli Ct.. Portland. Of) 97230 tMMBDM 501/257-1957 Pocket-SIze MINI LIGNO only $110 ind Case Battenes. and Pins for Vu and J u Measuring Depth. Size 1* 2V x 5V |
