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I have recently started a side gig doing woodwork. My work is displayed at a store with 7-8 different artists of various types. I pay rent for my display and the owner gets a percentage of my sales.
I am not very knowledgeable of business deductions and anything related. I have a workshop in my house, a small room in the very back of the house. The room has its own entrance and it’s the only thing that I use the room for.
My question is, is there any advantage for me to actually forming a business, obtaining city and country business licenses and registering my fictitious name. I’ve kept receipts for every purchase I’ve made of equipment and supplies from day one. I’m in Florida by the way.
Thanks in advance for any advice.
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