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Saturday, September 24th, 2005
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12:35a
Ice Update
http://www.blurty.com/~iceexplosive
(comment on this)
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3:31a
Other than that, call's back and forward to the tax department, and I'll be honest with you, I got two different answers from two different people, one answer feels right and one answer feel's convenient but for who I'm not sure . So its difficult to work out what to do. Fact is I can write the loss off, on other income sources, which I did. But it doesn't make me feel any better as I'd like the business to be turning over a profit rather than relying on other incoming sources.....So what does that mean...Although Lipcracks not trading at a profit, its not about to go bankrupt. For future business it mean's we have to incorporate all overheads to ensure no loss as a consequence of business operating costs, (I've already said that), although sales and discounts will apply on items at promotion times. Currently art items are costed to reflect all overheads, this was taken into consideration in initial pricing. Lipcrack did not go into business to make a loss, although initial losses were projected. We are here to provide services and good one's as long as the mechanisms of fair competition are not hampered. Will we make income, that is a market demand factor. No other way to put it, and once business recommences with new infrastructure, only time will tell. Currently we have enough back stock to work with in term of music, and new projects in media are currently being assessed for practicality of future development. In light of new information provided from the tax department, Lipcrack will need to determine if it is in the best interests of the business to promote other music as this may require a change in taxation requirements which is why the Marketing Department has been listed as a separate business entity. We do actually want to do this, but the tax regulations may make this difficult, I guess away around this would be to have the groups or artists sign with Lipcrack so in effect they are apart of the business.
Amendments for 2003-2004 include :
Separated the business into two divisions with the Art/Music and Marketing registered as two business activities within the frame work of the one business, which for the purpose of a sale or takeover would be quite useful and for the purpose of accounting is also great, for future planning, it will also help in determining departmental costs and allocation of profits (what profits you say??).
Non deferred losses, which were getting out of hand, and for the purposes of a clean shop, were written off against other income sources.
Concerns :
Taxation paperwork seems limited in scope for assessing business activities, which is why Lipcrack are keeping concise reports and will prepare all business paperwork as an annual report covering major changes and additions.
Information Man
I'm going crazy, because I'm actually not doing anything wrong, but I feel in some way's I'm not moving things along, as fast as they can, but I do know one thing, things will work out just fine, things will work out just fine. Next move your dead, one wrong move the words hanging on my head, wiped out from underneath me, they way it could have been, if I hadn't see the master plan, hadn't been the master plan. Tax market man looking at me, "What the hell is going on ??, Surprised that he didn't, know that I did, which is why I do what I do, things weren't adding up, things weren't adding up, so no I didn't go back to collage, I picked up a directory and sought out knowledge, now I'm cruising on a record machine, playing out tracks and you know I play mean, cutting it fine and I'm cutting it clean. Sending out mail, you call it Spam, I call it information Man, I call it information Man.I call it Information Man.
(Iceexplosive (c) today.
Good New's Lipcrack Are Going To Release A New Track Very Soon.
current mood:  artistic (comment on this)
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