I didn't expect good numbers, although I did hope they'd be better than they were. I had modest success clearing out old stock. As usual, people didn't buy the stuff I wanted them to buy -- I was surprised that they didn't snap up marked-down Panther Vision products, and the usual brief Christmas rush on Metal Earth models didn't happen at all. But I did get rid of a few big boxes. If I consolidate some leftovers, I'll get rid of a few more. Write-offs will eliminate a few more. But my fantasies of being picked clean remain fantastical. There is still a lot of stuff downstairs and it is, by definition, the stuff that people want least.
Well. I held costs close to zero, so I'll finish with money in the bank and no debt. Now I face the more pleasant chore of deciding what to do with that. That's going to depend upon (1) how much money there really is, and (2) my intentions for the future of Curio City.
Despite this month's drop, Kraken Enterprises is still showing a profit for the year (thanks mostly to Blue Hills, which has nearly zero costs), and that means I'm going to have to pay taxes on it. I can reduce it a little by writing off some dead, bulky stock that won't move at any price because it costs too much to ship.
It looks like I'm going to end up with around $2,200 in the bank.
Kraken's first obligation is paying me enough to cover the taxes on a $5,000 profit. That's going to jack up my personal income taxes by $1,000, so I'll have to pull that much out.
Its second obligation is to cover the annual costs of being a corporation: Excise tax, my CPA's tax return preparation fee, and whatever the hell the Secretary of State gets $109 for. Together these add up to $1,200.
Oh, look: There goes $2,200. There's no need to think about my intentions for the future unless that cash hoard grows and/or the profit shrinks meaningfully. so I'll leave planning for a future post.
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