Its available in Maryland. I set one up this year. -----Original Message----- From: Dana Tierney [mailto:[EMAIL PROTECTED] Sent: Monday, June 16, 2003 12:46 PM To: CF-Community Subject: Re: Home Business was(RE: Microsoft ActionPack Subscription (with cou pon....))
thanks :) I'll look into it Dana On Mon, 16 Jun 2003 11:33:19 -0500, Kevin Graeme <[EMAIL PROTECTED]> wrote: > http://sbinformation.about.com/gi/dynamic/offsite.htm?site=http%3A%2F%2F > www.score.org%2Fguest%2Farchives%2Fgumpert.html > > LLC stands for Limited Liability Company. It's the cool new kid on the > block for businesses to be. > > -Kevin > > > >> -----Original Message----- >> From: Dana Tierney [mailto:[EMAIL PROTECTED] Sent: Monday, June 16, >> 2003 11:03 AM >> To: CF-Community >> Subject: Re: Home Business was(RE: Microsoft ActionPack Subscription >> (with cou pon....)) >> >> >> yep. A lot depends on individual circumstances. I am not familiar with >> an LLC; possibly its something new or not available in Maryland? If you >> happen to have a link handy I'd be interested, if not I'll just look it >> up later. >> >> Dana >> >> On Mon, 16 Jun 2003 10:55:36 -0500, Kevin Graeme >> <[EMAIL PROTECTED]> wrote: >> >> > An S-Corp seems like an awful lot of trouble for someone like me who > >> generally doesn't do any side work but wants to be covered if an > >> interesting project does come up. That's why I like the simple > sole- >> proprietorship or LLC. And they're a lot cheaper to set up and > from >> what I remember, less hassle on the taxes. I didn't need a lawyer > or >> accountant. I just walked in and plopped down $30 bucks at the > state >> office. >> > >> > Although, if there wasn't LLC here and I was concerned about getting > >> sued, I definitely would go the S-Corp route. >> > >> > -Kevin >> > >> >> -----Original Message----- >> >> From: Kevin Schmidt [mailto:[EMAIL PROTECTED] Sent: Monday, June >> >> 16, 2003 10:41 AM >> >> To: CF-Community >> >> Subject: Home Business was(RE: Microsoft ActionPack Subscription >> (with >> cou pon....)) >> >> >> >> >> >> I am incorporated as an S-Corp and everyone I have ever talked to >> >> recommends this. Rather than go into a lengthy discussion of why, I >> >> would recommend consulting an attorney and an accountant. As the old >> >> saying goes, when you start a business, you need two things for sure, >> a >> good attorney and a good accountant. >> >> >> >> >::shrug:: isn't that what we are doing here? AFAIK incorporation >> >> >works >> >> >way >> >> >better if you are talking about business revenues oh say above >> 150,000. >> S >corporation would cover anything below that. If asset >> protection >> is >> >> not a >concern you don't *really* need to do either, is my point. In >> >> other words, >you do not have to be incorporated to be a business. >> >> > >> >> >Dana >> >> > >> >> >On Mon, 16 Jun 2003 11:13:13 -0400, Haggerty, Mike >> >> ><[EMAIL PROTECTED]> >> >> >wrote: >> >> > >> >> >> Well, one other thing I would suggest is to consult with anyone >> >> >> you >> >> >> know >> >> >> who >> >> >> has successfully run their own business. I receive advice from a >> >> number >> of >> >> >> professionals on day to day details on accounting, it has changed >> >> >> the >> >> way >> I >> >> >> think about just about everything. >> >> >> >> >> >> M >> >> >> >> >> >> -----Original Message----- >> >> >> From: Dana Tierney [mailto:[EMAIL PROTECTED] Sent: Monday, June >> >> >> >> >> >> 16, >> >> >> 2003 11:03 AM >> >> >> To: CF-Community >> >> >> Subject: Re: Home Business was(RE: Microsoft ActionPack >> >> >> Subscription >> >> >> (with >> >> >> cou pon....)) >> >> >> >> >> >> >> >> >> It can get you quite a ways but I prefer to avoid that home office >> >> >> expense. If you have a tax lawyer helping you with it you are >> >> probably >> good. The thing I am saying though, is that I do all that >> >> without being >> incorporated at all. However, I have very few assets >> so >> this may not be >> for everyone. S corporation status helps you >> separate >> business and >> personal assets if this is a concern. >> >> >> >> >> >> Dana >> >> >> >> >> >> On Mon, 16 Jun 2003 10:46:22 -0400, Haggerty, Mike >> >> >> <[EMAIL PROTECTED]> >> >> >> wrote: >> >> >> >> >> >>> Only pay yourself a nominal salary of $1 a year to avoid the >>> >> >> taxation >> >> >>> penalties. Have the corporation pay the cost of the lease for >> >> >>> your >> >> car, >>> rental space for your office in your home, your health >> >> insurance, day >>> care, tuition, business meals, cell phone, DSL, >> >> equipment and software >>> purchases, >> >> >>> etc. Use Quickbooks extensively to record all income and >> >>> >> receipts, >> >> and >>> see >> >> >>> how far it gets you. >> >> >>> >> >> >>> M >> >> >>> >> >> >>> -----Original Message----- >> >> >>> From: Dana Tierney [mailto:[EMAIL PROTECTED] Sent: Monday, >> >> >>> June >> >> >>> 16, 2003 10:39 AM >> >> >>> To: CF-Community >> >> >>> Subject: Re: Home Business was(RE: Microsoft ActionPack >> Subscription >> >> >>> (with >> >> >>> cou pon....)) >> >> >>> >> >> >>> >> >> >>> There are very few benefits to incorporation for a small >> >>> >> business. >> >> >>> First of all the corporate veil does you little good. Then >> (unless >> >>> this changed under Bush) all income from the business >> will be taxed >> >>> twice, once at the corporate level, then again as >> income to you. One >> >>> advantage is that you can go public and sell >> shares. I would say >>> >> chapter S all the way. >> >> >>> >> >> >>> On how to handle business income, even small, you need to file -- >> >> >>> hmmm I think it is a schedule C? not in front of me -- and a >> 1040. >> >>> Definitely a schedule SE for the additional social security >> tax. All >> >>> of this assumes that your business made a profit. >> >> >>> >> >> >>> HTH >> >> >>> Dana >> >> >>> >> >> >>> On Mon, 16 Jun 2003 10:06:49 -0400, Candace Cottrell >>> >> >> <[EMAIL PROTECTED]> wrote: >> >> >>> >> >> >>>> I was wondering about this as well. >> >> >>>> I do some sites on the side, but just add the $$ ( a very small >> >> >>>> amt) to my gross income. I emailed the IRS and they didnt give >> me >> >>>> too definitive an answer. >> >> >>>> >> >> >>>> Candace K. Cottrell, Web Developer The Children's Medical Center >> >> >>>> One >> >> >>>> Children's Plaza Dayton, OH 45404 937-641-4293 >>>> >> >> http://www.childrensdayton.org >> >> >>>> >> >> >>>> [EMAIL PROTECTED] >> >> >>>> >> >> >>>>>>> [EMAIL PROTECTED] 6/16/2003 9:54:08 AM >>> >> >> >>>> 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 Your ad could be here. Monies from ads go to support these lists and provide more resources for the community. http://www.fusionauthority.com/ads.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
