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Tax/Business Information?


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#1 Chris Keth

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Posted 29 June 2007 - 04:26 PM

I've recently graduated and am faced with all of the business and tax stuff about freelancing that nobody bothers to teach in school. Does anyone know a good place to start teaching myself these kinds of things? I'm sure a CPA would be good to talk to but I would like to do some reading on my own.
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#2 Kris Simmons

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Posted 10 November 2007 - 02:18 PM

sba.gov
entrepreneur.com

these are both great websites for getting started in any business. Let me know if I can help.
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#3 Richard Boddington

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Posted 10 November 2007 - 02:42 PM

I've recently graduated and am faced with all of the business and tax stuff about freelancing that nobody bothers to teach in school. Does anyone know a good place to start teaching myself these kinds of things? I'm sure a CPA would be good to talk to but I would like to do some reading on my own.


Just wait until you are told about "self employment tax," major bite of your income in the USA.

R,
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#4 Kieran Scannell

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Posted 10 November 2007 - 05:28 PM

[quote name='Richard Boddington' date='Nov 10 2007, 08:42 PM' post='202924']
Just wait until you are told about "self employment tax," major bite of your income in the USA.

Not just in the USA Richard It's a world wide epidemic I'm afraid! I give half my earnings to the taxman every year and it seems to be getting
progressively worse every year.

Chris, get yourself a GOOD accountant! That's serious advice! Read up of course it's always good to know the basics of self employment but a GOOD accountant is crucial to your business.

Kieran.
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#5 Richard Boddington

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Posted 10 November 2007 - 10:21 PM

Not just in the USA Richard It's a world wide epidemic I'm afraid! I give half my earnings to the taxman every year and it seems to be getting
progressively worse every year.

Chris, get yourself a GOOD accountant! That's serious advice! Read up of course it's always good to know the basics of self employment but a GOOD accountant is crucial to your business.

Kieran.


I raise the issue of self employment tax because for self employed Americans it usually comes as a shock. Here in Canada taxes are falling, I used to pay 90% of my income in taxes but that was just cut to 89%. Let the good times roll!!

R,
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#6 Walter Graff

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Posted 10 November 2007 - 10:37 PM

Incorporate with an S-corp and you'll be a happy man.
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#7 Jonathan Bowerbank

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Posted 10 November 2007 - 11:08 PM

It's all about the deductibles...the sweet sweet deductibles ;)
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#8 Chris Keth

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Posted 11 November 2007 - 12:35 AM

Sweet guys. Thanks for dgging this up. I gots me some booklernin to do! :lol:
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#9 Alessandro Machi

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Posted 13 November 2007 - 01:30 AM

It's all about the deductibles...the sweet sweet deductibles ;)



Yes, and no.

Eventually those deductibles have little resale value, so if one is busy buying and as a bonus they get deductibles they could still end up in debt.
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Tai Audio

Visual Products

FJS International, LLC

Broadcast Solutions Inc

Glidecam

Rig Wheels Passport

Metropolis Post

New Pro Video - New and Used Equipment

Ritter Battery

Technodolly

Wooden Camera

Paralinx LLC

CineTape

Gamma Ray Digital Inc

rebotnix Technologies

CineLab

Abel Cine

Aerial Filmworks

Willys Widgets

Media Blackout - Custom Cables and AKS

The Slider