ckcowl

i've had mine since 2005; this year (2010-tax year) i actually made money! yea!!! it is the first year i have come out ahead...
i figure the machine set up had paid for itself by the middle of last year(2009)- but with supplies and other expenses i was still in the red...but this year, when we do our taxes my accountant is going to be pretty surprised! i kept supply costs way down...only spent on what i absolutely had to have and averaged 3+ quilts a month for customers...plus the personal ones i made and squeezed into quilting time. so now the machine has paid for itself and i only have to keep up with maintenence and supplies (like thread-always need thread)
i am planning some up=grades this year but i think i can work them in without having to go into debt...that's the plan anyway. :thumbup: the whole first year was spent mainly practicing and classes...

hatchet

That's great!! I have a shortarm Juki and a Gracie frame right now but it's difficult to use and limited on things I can do on it. Can't afford a nicer longarm so I'll just keep going on my little guy and maybe some day I will be able to. I'm working on my second customer quilt right now and I do love to quilt, every aspect of it but not so sure about customer quilting yet. Although so far their work has been real good and they have been easy to work with, my first gal was a real dream to work with even with all the problems I had with my Juki. Hook timing, ugg... No money made but that was ok, I'm still learning. I've done about 15 of my own quilts on the Juki and Gracie and even won second place at the quilt fair!! Maybe someday...

Treasureit

If it is a business in your home there are tax advantages for that you can consider. Expenses are write offs, the room in your home designated to the work, etc.

hatchet

Nice to know, thanks!!!