I've just joined the organization and am filing my DBA this week and attending the 2 day seminar in 2 weeks. I am anxious to start testing recipes and would like to make some purchases (foodsaver, pressure cooker, etc) Can I start spending $$ now and be able to write it off on my taxes? (Sole proprietor)
Yes, you probably could, but you might be better to wait until the seminar to make any significant purchases. You may find that the information provided at the seminar may change your mind about what your true needs are.
BTW, which seminar are you attending, OH, and why don[ you go back and complete your personal info so we'll all know where you are from.
Good point Jim. I will take your advice. I did fill out my profile and just cheked it and all seems to be in order. Please let me know if I am missing something regarding that.
I am attending the seminar in San Diego on June 7/8. Can't wait to get my materials in the mail & start getting ready for it!
I would hold off on buying everything you think you need or want. The problem being..Once you start shopping everything begins to look like a "must have". Finances are rapidly depletedand you wn way too much redunadant tools etc.
Make a "must have, WishList"! Prioritize and bedget for items. Discuss at the Seminars and bgin the process of online sourcing for the best prices and compare at your local vendors etc. Check out restaurant suply stores for some items, i.e. Restaurant Depot or other local purveyors.
I can just6 feel your excitement. It brings back a few terrific memories and Lessons too! Lol
I think one of the most common mistakes new PCs make is going shopping before: * taking an inventory of what they already own * attending the seminar * writing their business plans
Another common mistake is not keeping track of business expenses incurred before opening the business. Keep track of EVERY PENNY you spend, starting from the time you first decided to become a personal chef. This means not only cooking equipment, but cookbooks, cooking magazines, software, food used to test recipes, etc. Always save receipts. Come tax time, it will make your life much easier!
I also just joined the APCA and after watching the "a day in the life a personal chef video" I found I already own most equipment needed. I am concetrating my $$$ on marketing and getting the word out that I'm here and ready to serve the public. You should wait on buying extra's until you need them so you use your money wisely on getting clients. smart money is to spend as you get it rather than building up the negative.
