Well, the main one that I can see is that if you stick it on your own tax bill, then it gets taxed first. So, you earn 100$ and it gets taxed right off the top. So, you get 65$ or something like that. If you run it thru the corp, you get taxed last. So, you earn 100$, then you go spend $ on company stuff like more memory for your laptop at 99$ whcih is an expense and is deductible. Then you have 100-99 = 1 dollar taxable and you likely pay zero tax on that.
So, expand that to 80$/mo for hosting at ~1000$/year. If you stick it on your personal sheet, you actually have to earn 1400$ or so to run it. If you do it thru a corp, you only have to earn 1000 and you buy stuff. Something like that anyway. DRE > -----Original Message----- > From: Heald, Tim [mailto:[EMAIL PROTECTED] > Sent: Monday, June 16, 2003 7:54 AM > To: CF-Community > Subject: RE: Home Business was(RE: Microsoft ActionPack > Subscription (with cou pon....)) > > > I have been operating my side/contracting business as > Terminal-Fusion for several years now, but never actually > went the legal route. Always just tack what ever I make on > to the top of my base income come taxt time. > > What are the benifits of becoming incorperated? > > Tim > > > -----Original Message----- > > From: Raymond Camden [SMTP:[EMAIL PROTECTED] > > Sent: Monday, June 16, 2003 9:54 AM > > To: CF-Community > > Subject: RE: Home Business was(RE: Microsoft ActionPack > Subscription > > (with cou pon....)) > > > > > I am wondering, did any of you ever take the time to set up > > > an actual company? How difficult is it? I was thinking sub > > > chapter s? > > > > > > > I thought I _had_ to. I just used my name as my business > (same thing I > > did when I bought a computer via Dell using their Small Business > > prices). I should have named my company Vandelay Industries. ;) > > > > -ray > > > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Archives: http://www.houseoffusion.com/cf_lists/index.cfm?forumid=5 Subscription: http://www.houseoffusion.com/cf_lists/index.cfm?method=subscribe&forumid=5 This list and all House of Fusion resources hosted by CFHosting.com. The place for dependable ColdFusion Hosting. http://www.cfhosting.com Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
