Freedom !!!!

[somarco]

But if you lived in Mississippi your sister would be your wife.

Not if I divorce her.

 

[lflashman]

The thread title reminds me of the ending of that mel gibson movie,, Freedom!!!!

That came to mind as I was starting it. I love that movie.

 

[budfox7]

I finally took the step of leaving my captive company and going independent yesterday. Got contracted with a couple companies already. Waiting on several others. These companies are slower than molasses. It is great knowing that I'll be able to write the best contract for the client as opposed to what the captive company offers. Got nothing bad to say about them though. They taught me the business and had reasonable products pretty much accross the board. Heck, I was a manager with them for several years. The only thing that concerns me is I'll have to be carefull not to fish too much and work too little.

Question: Do most of you have offices, or do you work from home? Also, if you have an office, is it a retail office (high visability for walk in traffic), or more out of the way (more or less someplace to go so that you don't have the distractions of being in a home office ie. wife, cat, dog, kids)?

Congrats!

I do have a Tax question, Does any body know how to set up an LLC that way you can write off everything from your underwear to travel, to expenses? I am sure being Indy require you to have CRD. Compulsive Reciept Disorder? Any advice how much you should save for taxes ? Any help is appreciated !
Thanks,
BudFox7

 

[shortcut]

Not if I divorce her.

You can divorce her, but she's still your sister!

 

[Clint]

Congrats!

I do have a Tax question, Does any body know how to set up an LLC that way you can write off everything from your underwear to travel, to expenses? I am sure being Indy require you to have CRD. Compulsive Reciept Disorder? Any advice how much you should save for taxes ? Any help is appreciated !
Thanks,
BudFox7

Bud,

Spend the $500 it will take to see an attorney, if you can't form one on your own. Setting up an LLC is pretty easily done, in most states. I haven't set one up in Florida, yet. However I would advise you to get an attorney who can draw it up, if you can't and secondly, you will need a great CPA. As far as saving for taxes. I recommend that you open a secondary business account, and put 1/3 of your gross in that account. AND DO NOT TOUCH IT. But your CPA can advise you best.

Clint

 

[Norwayguy]

Slow down, Peter.

No, I am not renting out my wife but I have considered selling my kids from time to time.

If I lived in Mississippi I could legally rent out my sister, but sending her across state lines for carnal purposes is still a crime.

Shoot I was really looking forward to ideas on renting out the wife or selling the kids

 

[somarco]

looking forward to ideas on renting out the wife

I assume your wife doesn't read this forum.

 

[jdeasy]

I assume your wife doesn't read this forum.

This forum is not in braille.

 

[moonlightandmargaritas]

I do have a Tax question, Does any body know how to set up an LLC that way you can write off everything from your underwear to travel, to expenses?

Unless you elect to have your LLC treated as an S corp, a single member LLC is a "disregarded entity" by the IRS for tax purposes. Translation: the IRS pretends like it doesn't exist, therefore not much help in saving taxes vs. a sole proprietor.

Spend the $500 it will take to see an attorney, if you can't form one on your own.

An attorney is not necessary - save the $500. You can set up a Florida LLC in about 10 minutes for about $135 at www.sunbiz.org.

 

[Norwayguy]

I assume your wife doesn't read this forum.

Nope unless its facebook or her yahoo email she doesn't get on too much.