I have been selling firewood on the side for a few years now and I’m starting to wonder where I draw the line when it comes to a side business or a full fledged operation.
I started out selling just a few cords a year but I sell quite a bit more now.
I try to keep as much wood on my lot next door because a lot of it is seasoning and is not ready for sales. With around 40 cords stacked up in cords it is starting to look like a big operation. I would like to double my stock but I don’t want to draw too much attention until I decide to become a business or not.
If it was a business I could write off all my expenses, pay taxes and all the other stuff that goes with a business. My expenses are fairly low because almost all my wood comes from tree companies that bring it to me. Most of my expense is cutting it up and running it through the splitter.
Taking it to a business level would be a lot more work with time and expense and may or may not be worth the effort.
Where do I draw the line?
Please give me your thoughts.
Dennis
I started out selling just a few cords a year but I sell quite a bit more now.
I try to keep as much wood on my lot next door because a lot of it is seasoning and is not ready for sales. With around 40 cords stacked up in cords it is starting to look like a big operation. I would like to double my stock but I don’t want to draw too much attention until I decide to become a business or not.
If it was a business I could write off all my expenses, pay taxes and all the other stuff that goes with a business. My expenses are fairly low because almost all my wood comes from tree companies that bring it to me. Most of my expense is cutting it up and running it through the splitter.
Taking it to a business level would be a lot more work with time and expense and may or may not be worth the effort.
Where do I draw the line?
Please give me your thoughts.
Dennis