Hi Flawless Designs (an odd, and slightly pretentious, name to choose considering you have only been going a month

).
Welcome to the wonderful world of design

Well, I've seen worse to be fair. The logo itself is rather off balance and the use of what looks to be photoshop filters only serves to lessen the effectiveness of the work. There are also issues in regards to scalability; using it at smaller sizes renders the tag line almost unreadable:
http://i.imgur.com/PT6SYMP.png and so you're going to run into issues when displaying it, for example, on a website.
Nice one for jumping in at the deep end, but you've got plenty to learn

Have you been looking out for tutorials and what not? I would suggest spending the majority of you time completing tutorials to learn Photoshop, studying what makes for good logo design and collecting examples of inspirational logo designs like this one:
https://www.behance.net/gallery/14932233/FOX-Life-Rebrand-Book
You may be working with just logos for quite some time, but you should know that a logo is a very important piece of a larger entity, called the brand. The logo in fact as one (of many) single identities, to form the larger brand which consists of many other things like business cards, website, flyers, communicational guidelines between the company and clients/customers and various other things.
Levi, to be fair, if I was designing a logo for $5 I would tell them where to go if they started asking for better kerning, multiple file types, concept development - or anything for that matter. I think I would literally close my eyes, pick some fonts and colours at random and that would be that!
$5 is a ridiculously low amount to work for - but then there are clients out there who aren't interested in paying more; and what you'll find is that these clients are the most demanding, most arrogant and most frustrating people to work with - you might get lucky, once or twice, but I doubt it. You would be better off spending time developing your skills and understanding of good design, moving on to creating brands for fictitious companies - I guarantee that if you are any good at this, they will make for MUCH better portfolio pieces - as the client won't have a chance to ruin it by insisting you add a drop shadow, or luminous pink text over the main logo - or something else as ridiculous.
You've made a good start! Let us know if there's anything you want help with
