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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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Media Blackout - Custom Cables and AKS

rebotnix Technologies

Paralinx LLC

CineTape

Rig Wheels Passport

Glidecam

FJS International, LLC

Broadcast Solutions Inc

Metropolis Post

Abel Cine

Ritter Battery

Visual Products

Tai Audio

Opal

Technodolly

Wooden Camera

Aerial Filmworks