mel jacobson on wed 31 oct 01
simple math: if you cannot do it `long hand`..get a calculator.
10,000 sold, major new york gallery.
gallery: -6,000
artust 4,000
oh, fica -1,000 (if you get a check look at see what fica is)
galleries now take 10 percent for federal tax...fica. the law.
state tax- 300
fed tax - 300
corporate discount -1,000 (painting sold to a professional basketball team.)
linen canvas -400
paint - 200
studio helper for the work -1200
trip to new york for sale -600 (and if you can do it for that...hooray.)
studio rental - 300
your time ??????
i think we can stop now...our number is rather negative.
even by singapore standards in math.
the teacher came in to a graduate seminar and the university
and said `well gang, just hit the big time....sold a painting
for $10,000.` all the students got all bug eyed.
i went to the chalk board and did the math.
all were very quiet.
even the professor. he knew.
my final remark was:
` how much did you lose?`
he said, `about $4,000, but, i sold a painting in new york for
$10,000, good for my resume.`
cash...what a concept.
mel
i sell everything off my deck.
i control all aspects of my art business.
no one gets a dime commission or interest on my money.
not a dime.
everyone has a way of working, selling and being.
pick your own.
but, do a profit and loss statement. don't lie to yourself.
From:
Minnetonka, Minnesota, U.S.A.
web site: http://www.pclink.com/melpots
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