Did you know that if you are a corporation you pay taxes on inventory at the end of the year?
This is why I always do as many sales as possible prior to December 31st…….. rather put the money in my pocket.
To round things out each year, I try to do one or two home parties (or sample sales) to get rid of excess old inventory or showroom samples, press samples or anything that was returned from internet sales throughout the year that is still laying around.
Home parties can be super fun – especially if you invite other designers you know to participate as well – it brings in more shoppers!
Here’s to lowering your taxes and putting more cash in your pocket!
Thank you for the excellent ideas. I must act on them immediately!
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I am thinking about doing a home party. As always, great tips!