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Future Texas decorators: help on setting up - Page 5

post #61 of 86
Oh, I'm not taking on major big projects either...this is just a side job to keep me busy while my kids are in school. Being that I'm very active into their schooling, I like to keep my time open for them so it's by appt only. Over the years I've collected most of the things used like, professional pans, pro-deco tips, cutting patterns and such. Some fam have said I'm wasting my talent but if it's something I don't plan to do on a day to day basis it's not wasted, I'm doing other things I think are more special. No point in opening a retail bakery either, cause I would lose money helping ppl out too much. Like I said, it just wks for me. I just posted that 'cause some ppl thought/think it was a MUST but it's really a choice/option if needed.
post #62 of 86
This thread has been very helpful. Thanks to everyone contributing. Especially the advice on the FEIN and the tax id. I will doing a sole proprietrship but I want a tax id so I can shop at the local restaurant supplyicon_smile.gif

I'm not sure how many people have checked out the Cake Boss software but I ordered it the day after the cottage food law went into affect and it is fabulous. It tracks your order, expense and sales tax. But my favorite is just the cost and overhead that went in to your cake to ensure you are pricing things correctly. I've had so much fun entering my recipes and master materials. It's been a real eye opener in the true cost of my cakes. I've got my first cake on the books for Sept 27. I can't wait.
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Visit me at www.keeponcaking.com for tutorials and other cake stuff.
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post #63 of 86
Just something for everyone to keep in mind, especially those who have mentioned they don't want to deal with the EIN. If you are trying to start a business, want to maintain profitability, and be successful, buying things wholesale is much more cost effective. Why buy cake boards individually or in 5 packs when you can buy them 24 or more at a time, why buy one box at a time when you can buy 50. Sure, you may not need 50 right now, but if you do one cake a week and you use common packaging, you will wish when you look at your profit/loss statement, you are tracking ALL expenses and comparing them to revenue right, that you had saved that little bit on those boxes.

I spent 2 years making businesses more profitable. I had spread sheets that calculated down to the fraction of a penny how much each individual sheet of toilet tissue cost so that I could compare different size cases. If you are in business to make money, but you aren't willing to take advantage of every provision made available for you to make more money, then you need to re-think what you are doing!
post #64 of 86
Thread Starter 
I just got my first wedding cake order for November!!! So excited.

Have y'all gotten your websites up and pricing set? I would love to see what you have going! I will post my link as soon as my husband gets it up!



Stephanie
Beggin for Cake
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Beggin for Cake
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post #65 of 86
Quote:
Originally Posted by Texas_Rose

I believe the fee for a LLC is $300 in TX.



Is this a yearly fee or a one-time fee?
post #66 of 86
The Quote I saw for the LLC was $357 and it is a one time fee.

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"Making your special day, a whole lot sweeter!"

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post #67 of 86
Quote:
Originally Posted by kisamarie

The Quote I saw for the LLC was $357 and it is a one time fee.



Thanks!
post #68 of 86
Quote:
Originally Posted by kisamarie

The Quote I saw for the LLC was $357 and it is a one time fee.


The fee is $300 for the filing with the Secretary of State. This does not include any legal fees that you may incur in getting the actual paperwork done.
post #69 of 86
For Travis County the cost will be $14.00 for ONE business name and ONE owner.

http://www.co.travis.tx.us/county_clerk/dba.asp
I smile because I don't know what the hell is going on.
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I smile because I don't know what the hell is going on.
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post #70 of 86
Quote:
Originally Posted by Texas_Rose

Oh, from what I understand, cakes aren't taxable in TX but you still need the sales tax ID, even if you never need to charge sales tax. If you sell a non-food item, like gumpaste flowers, or rent equipment out (I think) you have to charge sales tax on that.



Have any one found out if we need to get a sales tax if we will rent out equipment or sale gumpaste/royal icing flowers etc.,?
I smile because I don't know what the hell is going on.
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I smile because I don't know what the hell is going on.
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post #71 of 86
thank you for the information.. it should fill in what I already have!!! thank you!
make life what you want it to be
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make life what you want it to be
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post #72 of 86
I've explained to several people the steps to go through on setting up a business (FEIN, DBA, sales tax, etc.) and decided to just type up the steps and include the links. It's a couple pages long so I'll just include a link. Hope it helps!

Setting up TX business
post #73 of 86
Hi, guys. I will be meeting with my insurance agent on the 6th to go over the possibility of obtaining liability insurance. I want to understand where there would be a conflict between what my existing home insurance covers and what would be covered by liability insurance. If a fire starts while baking a cake for an order, will home insurance still cover that? I don't want something like that to happen and then find that it will not be covered because it falls under the business side and I only have liability. For those of you who may have already received answers from your insurance companies, what are some questions I should make sure to cover with my agent? Thanks for any help and guidance!
post #74 of 86
I wanted to post a quick note. I spoke with my friend who is a tax accountant regarding all of the different stuff. I was speaking with her regarding paying sales tax on supplies and charging sales tax. When I told her that we do not charge sales tax on the cakes because it's a food item, she pointed out then that the tax id from the state to avoid paying sales tax on ingredients and supplies is pointless. If you do not charge sales tax on the finish goods, you still owe sales tax on the ingredients and supplies. Basically the state gets their money one way or the other. Based on that info, I figure I'll buy wholesale but not tax free. Easier to pay it as I go then try and figure out what I owe at the end of the year. I hope that helps a few people out.
Visit me at www.keeponcaking.com for tutorials and other cake stuff.
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Visit me at www.keeponcaking.com for tutorials and other cake stuff.
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post #75 of 86
Quote:
Originally Posted by sillywabbitz

I wanted to post a quick note. I spoke with my friend who is a tax accountant regarding all of the different stuff. I was speaking with her regarding paying sales tax on supplies and charging sales tax. When I told her that we do not charge sales tax on the cakes because it's a food item, she pointed out then that the tax id from the state to avoid paying sales tax on ingredients and supplies is pointless. If you do not charge sales tax on the finish goods, you still owe sales tax on the ingredients and supplies. Basically the state gets their money one way or the other. Based on that info, I figure I'll buy wholesale but not tax free. Easier to pay it as I go then try and figure out what I owe at the end of the year. I hope that helps a few people out.



is there a way to buy wholesale without the tax id?
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