Re: home business-getting started
- From: "Ricks Place" <OFBGMail@xxxxxxxxx>
- To: <programmingblind@xxxxxxxxxxxxx>
- Date: Mon, 1 Jun 2009 07:03:57 -0400
Hi TY:
You are going to start a business. You are going to be a professional or a
Contractor in effect. Getting a Lawyer is a very good idea but the paperwork
he will need to do is very standard and minimal so he should not charge
much, shop around by phone. I will go back and see if I saved any notes when
I was about to do the same thing. You just need to keep track of what you
take in and spend and the hours you actually work. If you are on Social
Security or Medicaid there are rules about how many hours per week you can
work and how much you can make before you lose your benefits. There are also
trial periods for Social Security etc...
It all gets a little complicated and an experienced lawyer can help you sort
all the ifs ands and buts. You don't have to actually start a business that
requires anything more than you keeping track of what you do, no accounting
system stuff other than just what you normally might do with a little more
detail and documentation in case there are any questions.The only thing I
can say is that you will be like a Doctor, Plumber or other Professional
providing a service. I don't know if you actually sell products if there is
any diference. There are several types of business. The Type S Corp is for
small businesses who don't want to Incorporate, it is for a single person or
small partnership. It is overkill though since it requires some accounting
hoops. Thereare a couple of other business forms, I forget off the top of my
head, for contractors and professionals with fewer requirements. I will
scrounge around a little but you should get a lawyer in any case. You want
limited Liability so if sombody sues you you are only responsible for
payments to the extent of your business, you want simple or no additional
accounting tax requirements and any other safety and easy helper features of
the business type you are going to start. I think my lawayer was going to
charge me about $150 to set up the business. I would have had to report my
taxes quarterly and had limited liability to the assets I put into the
business. I was going to work less than the maximum hours allowed under
Social Security so would not lose that income and run the business as a part
time venture. This sounds like a plan for you as well depending on your
current involvement with Government Programs like Social Security.
Well, I will see if I saved anything on my business plan which included the
legal framework.
I will get back to you later but start googling and find a number of lawyers
in your specializing in small business startups who you can ask questions of
on the phone before you have to pay something to start the business. You
will learn more as you google, hear from me and talk to the lawyers. Also,
ask on other lists how self employed programmers are handling the business
type and tax requirements.
Rick USA
----- Original Message -----
From: "Tyler Littlefield" <tyler@xxxxxxxxxxxxx>
To: <programmingblind@xxxxxxxxxxxxx>
Sent: Monday, June 01, 2009 2:15 AM
Subject: OT: home business-getting started
Hello list,
I've thought about doing a computer repair/virus removal performance
tuning type of business, and was going to put an add in the news paper.
I'm wondering what kind of hoops I need to jump through; it looks like I
need a couple of licences from the CO website, but I'd like to see how
things go before I have to get a lawyer and etc. Is there a legal way to
run it and record earnings while I see if I'm going to make enough money
to make this worth it?
Any ideas/advice would be great; I wasn't sure where to ask, and I believe
there are a few people on the list that run a business that may be able to
throw out some ideas.
Thanks,
Tyler Littlefield
Web: tysdomain.com
email: tyler@xxxxxxxxxxxxx
My programs don't have bugs, they're called randomly added features.
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