Hi Holly, I've operated as an S-Corporation for nine years with a slew of subcontractors coming through my world during that time. I've found that clients have paid more quickly when invoiced via my corporation and FEIN (tax ID) than via me as a freelancer with a SSN since they don't usually have to deal with 1099s and other payroll paperwork with a corporation. You're a vendor just like UPS or any other company providing a product or service.
I do my own bookkeeping and payroll (just me!) using Quickbooks and their payroll service and file and pay all of my witholding, UI, and other taxes online directly from within Quickbooks as well. At the end of the year, I print out income and expense reports and hand those to my accountant who does the corporation and personal taxes. Couldn't be easier. Hope this helps! Art Thompson, Jr. Logical Things - Design + Technology 917-609-1158 [m] 512-692-9865 [w] www.logicalthings.com linkedin.com/in/logicalthings twitter.com/logicalthings On Thu, Aug 20, 2009 at 5:30 PM, Holly Fortenberry < [email protected]> wrote: > > Yes, Terry, this is the way I've been leaning as well. It's great to > hear your experience. Thank you! > > Terry Brown wrote: > > Personally, I can speak from experience by saying that if you intend on > > having people working for you on whom you will be relying to deliver work > > then you should definitely invest in some level of incorporation - > whether > > that be a C-corp, S-corp, LLC, etc. The reason for this is that you will > > personally be held liable if (more like WHEN) they fail to produce > something > > for a client and there is an unhappy camper on the other end. > > > > Ultimately, and obviously, you would like to avoid those situations > > altogether. IF you are working by yourself and are confident in your > > ability to deliver solid work then you can get by with a sole > > proprietorship. > > > > HOWEVER, and this is a big however, even when you DO deliver high quality > > work that doesn't fully protect you from some deviant people out there > who > > will sue just because they know it is more costly to defend a suit than > it > > is to settle. If you find yourself in such a situation it would be good > to > > have the protections of a corporate structure. > > > > You should bone up on running a company properly if you do so though. > > Something as minor as paying for your dry cleaning or a personal dinner > with > > a debit card from your "company" account can pierce the corporate veil of > > protection and expose you to personal liabilities you wouldn't have > > otherwise. > > > > Hope that helps! > > Terry > > > > > > > > -----Original Message----- > > From: [email protected] > > [mailto:[email protected]] On Behalf Of Holly Fortenberry > > Sent: Thursday, August 20, 2009 5:07 PM > > To: [email protected] > > Subject: [Refresh Austin: 4343] business model > > > > > > Hi folks, > > > > I've got a question I have not seen addressed yet. Which business model > > (sole proprietorship, LLC, etc.) do you think works best for a small web > > design firm? I'm planning to do my own design and basic development; > > but, I will contract with experts when necessary for advanced > > programming or graphic design needs. > > > > Thank you, > > Holly > > > > > > > > > > > > > > > --~--~---------~--~----~------------~-------~--~----~ Our Web site: http://www.RefreshAustin.org/ You received this message because you are subscribed to the Google Groups "Refresh Austin" group. [ Posting ] To post to this group, send email to [email protected] Job-related postings should follow http://tr.im/refreshaustinjobspolicy We do not accept job posts from recruiters. [ Unsubscribe ] To unsubscribe from this group, send email to [email protected] [ More Info ] For more options, visit this group at http://groups.google.com/group/Refresh-Austin -~----------~----~----~----~------~----~------~--~---
