Professional Woodworkers Sharing Business Strategies

At tax time, be careful with moving money around

Written by Mark E. Battersby Monday, 16 March 2015 00:00

Putting money into a woodworking business — or taking money from the business — is not something to be tackled by amateurs. Admittedly, a surprising number of woodworking professionals do depend on themselves when it comes to financing their businesses. Thanks to our complex tax rules, however, getting money invested out of the business can be expensive.



Deal with the moisture to minimize its adverse effects

Written by John English Monday, 16 February 2015 00:00

Seventy-seven-year-old Ken Froelich used to run a furniture repair shop in Rapid City, S.D. It was a half-hour from Ellsworth Air Force Base, where soldiers, airmen and even some diplomatic corps personnel would arrive home from overseas tours.



Let’s clear some things up about cloud computing

Written by Lloyd R. Manning Monday, 19 January 2015 00:00

lloyd_manningCloud computing, which can produce greater efficiency and cost savings for woodshops and many other businesses, has recently enjoyed greater acceptance and growth. Yet, in many quarters, particularly among small-business owners, it is still not known well. One seldom realizes in this technological age how soon we get out of date.



You don’t need to work in cramped quarters

Written by John English Monday, 15 December 2014 00:00

john_englishWoodshop inventory comes in three forms. There are raw materials such as plywood, hardwoods and hardware. Then there is work in progress, which is anything from individual parts to fully assembled and unfinished casework. And finally there are completed jobs that are ready to be loaded and delivered/installed.



Buy or lease? Find your answer in the tax code

Written by John English Monday, 17 November 2014 00:00

john_englishEDITOR’S NOTE: The purpose of the following information is not to give tax-related or financial advice, but rather just to let woodshop owners know about some options that they might wish to research further.



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