Jonathan Davis has had a passion for quality, intricate woodworking ever since he was in college. But more recently he saw a chance to take that passion and turn it into a business, which he named JBD Wood Products LLC. “If you love what you do, it’s not really work,” says Davis.
Davis knew, though, that if he wanted to make a living at woodworking, he was going to have to do it well and find customers who appreciated his prowess. “Woodworking is more and more of a scarcity every day,” says Davis. “Everything nowadays is made out of plastic or pressed boards, made out of sawdust. I want to show people the quality of real genuine woodworking.”
While Davis clearly cares about the quality of his products, starting a woodworking business has meant some big challenges. Originally, Davis wanted to run his business from his home. That might have worked had he been doing just a little bit of it on the side. But being a reputable business meant that Davis had to conform to local zoning laws, which didn’t allow him to make and sell wood products out of his home. He had to rent a workshop, a move that has created higher overhead for his business than he’d expected.
Along with overhead and profit margins comes tax concerns. Davis has turned to 1-800Accountant to assist him with business and tax considerations. “1-800Accountant has been extremely helpful during this process,” says Davis. They “opened my eyes to the importance of staying compliant with the IRS and maintaining my business taxes.”
Back in the shop, Davis hopes to grow a successful woodworking business while showing people across the country that, as he puts it, “Woodworking is not dead!”
1-800Accountant is happy to help Davis realize his business dreams. We’re a virtual accounting firm merging the convenience of technology with live support from experienced accounting professionals. We offer a complete suite of personalized accounting, bookkeeping, advisory, and payroll services to individuals and small businesses at an affordable price. Schedule your consultation with America’s leading small business accounting firm. 800-222-6868.