The Woodturning Forum - Woodturner's Resource - Does this count as first sale?

Woodturning Gallery

• Featured Artist

• Websites

Tutorials, Projects & Tips

• Event Calendar

• Tool and Book Store

Welcome, Guest. Please Login or Register

The Woodturning Forum - Woodturner's Resource › Everything Else... › The Other Side › Does this count as first sale?

‹ Previous Topic | Next Topic ›

Pages: 1

Does this count as first sale? (Read 910 times)

Don Andrews Senior Member Offline so many projects - so little time Posts: 396 Niagara Falls Ontario Canada Gender: Delta Milwaukee 1944 lathe upgraded with 3 inch risers for 18 inch capacity, One-Way banjo, Leeson 3 HP 3 phase drive motor	Does this count as first sale? Aug 27^th, 2009 at 10:33am Yesterday on the internet I traded a piece I turned for a "sargent welch" vacuum pump. I pick it up tomorrow. Does this count as my first sale? I guess next week I'll have to start on one of Ron's vacuum chucks. Don
Back to top	better to die in armor than live in chains! IP Logged

Register To Remove Ads

Brendan McAreavy

WR Addict

Offline

WR Rocks!

Posts: 2,281

Ireland
Ireland
Gender: male

Re: Does this count as first sale?
Reply #1 - Aug 27^th, 2009 at 11:59am

I imagine so because the value of the pump became the value of your piece or the other way round. Whatever way you look at it, in the end the pump owner had a number in his head for the $ value of the pump so he was satisfied to pay that for your work.

And that brings me to a more important point - already, in your woodturning journey, your work has become desirable.

Well Done.

BMac in a previous incarnation

IP Logged

JimQuarles WR Addict WR Patron Offline WR Rocks, BIG Time! Posts: 13,194 Glendale, AZ Arizona USA Gender:	Re: Does this count as first sale? Reply #2 - Aug 27^th, 2009 at 3:31pm And if Canadian tax laws are the sam as the US, you have income of the value of the pump, and a depreciatable purchase of the same amount. JimQuarles
Back to top	Mentor Basics, Pens, small stuff, Acrylics, EasyRougher. Just Turnin' Around! Glendale, AZ "Right now I'm having amnesia and deja vu at the same time. I think I've forgotten this before." - Steven Wright IP Logged

Don Andrews Senior Member Offline so many projects - so little time Posts: 396 Niagara Falls Ontario Canada Gender: Delta Milwaukee 1944 lathe upgraded with 3 inch risers for 18 inch capacity, One-Way banjo, Leeson 3 HP 3 phase drive motor	Re: Does this count as first sale? Reply #3 - Aug 27^th, 2009 at 6:39pm Thanks Brendan! Jim I never thought about the tax aspect. I will have to check, a friend does tax and investment counseling and is a turner, who better to ask! Don
Back to top	better to die in armor than live in chains! IP Logged

Pages: 1

‹ Previous Topic | Next Topic ›

« Home

‹ Board

Top of this page

Page completed in 0.2518 seconds.

Email:admin@woodturnersresource.com

Woodturners Resource ©
Rated #1 Among All The Woodturning Forums On The Net.
This is the place woodturners go to for the most up to date woodturning ideas.