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RE: Self-Employment - 9/21/2008 1:32:24 AM
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bzirk
Posts: 2949
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From: Where the deer and antelope play
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It's amazing how math skills improve when it's our own money or we're responsible for taking care of someone else's paycheck. I think you'll do great because you sound like you want to really learn how to get your arms around this.
BTW, I just looked at that link again, and it's a pretty hairy document. But it might behoove you to check into LLP if you don't already have one since it affords you some liability protection you can't get with a regular partnership.
Have a great evening, and you're welcome for little I can contribute.
Take care.
_____________________________
may the God of hope fill you with all joy and peace in believing, so you will abound in hope by the power of the Holy Spirit. Romans 15:13
Great quote: I just ain't God and don't know it all. -- SonInMe1
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RE: Self-Employment - 9/21/2008 1:38:40 AM
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RepentanceIsRequired
Posts: 1110
Joined: 9/14/2005
From: Home is where the heart is.
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quote:
It's amazing how math skills improve when it's our own money or we're responsible for taking care of someone else's paycheck. I think you'll do great because you sound like you want to really learn how to get your arms around this.
I certainly do, and I am such a by the book person (thanks to my dad who taught me how to do my personal finances). Hubby is a litte more lax. He'd rather pay under the table and just get by for now.
_____________________________
--Nicole--
"Trying to be a perfect mother is a recipe for perfect insanity." -- SurpassingPeace
"I don't know what I just ate, but it was good" -- recent customer (farmer) at our restaurant.
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RE: Self-Employment - 9/21/2008 10:14:10 AM
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bzirk
Posts: 2949
Joined: 4/11/2005
From: Where the deer and antelope play
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The problem with paying under the table (other than it's just wrong ethically and legally -- that should be enough to refrain) is it creates an atmosphere among your employees that's not healthy and undermines your control of your business. If you start off that way, it's difficult to switch gears. I say that not as someone who has done this but as someone who has had friends in such businesses as construction and cleaning where they paid under the table and they came to regret it later. When employees know you're compromised one or some of them are going to take advantage of it -- even kids.
_____________________________
may the God of hope fill you with all joy and peace in believing, so you will abound in hope by the power of the Holy Spirit. Romans 15:13
Great quote: I just ain't God and don't know it all. -- SonInMe1
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RE: Self-Employment - 9/21/2008 3:19:05 PM
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rhippie
Posts: 663
Joined: 4/13/2005
From: Rich The Hippie
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quote:
ORIGINAL: bzirk
The problem with paying under the table (other than it's just wrong ethically and legally -- that should be enough to refrain) is it creates an atmosphere among your employees that's not healthy and undermines your control of your business. If you start off that way, it's difficult to switch gears. I say that not as someone who has done this but as someone who has had friends in such businesses as construction and cleaning where they paid under the table and they came to regret it later. When employees know you're compromised one or some of them are going to take advantage of it -- even kids.
Don't forget the "nice" guys that will be the first to collect unemployment or attempt to file a claim against your worker's comp insurance for an "on the job" accident that happened at 3AM after having a couple of beers
_____________________________
Stand up for what's right....even if you're standing alone
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RE: Self-Employment - 9/21/2008 4:52:55 PM
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bzirk
Posts: 2949
Joined: 4/11/2005
From: Where the deer and antelope play
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Oh man, you are so right.
I could tell some of my experiences with that, but I'll spare everyone.
_____________________________
may the God of hope fill you with all joy and peace in believing, so you will abound in hope by the power of the Holy Spirit. Romans 15:13
Great quote: I just ain't God and don't know it all. -- SonInMe1
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RE: Self-Employment - 9/21/2008 11:33:12 PM
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RepentanceIsRequired
Posts: 1110
Joined: 9/14/2005
From: Home is where the heart is.
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Yes, I told Ryan that simply ethically I could not do that.
_____________________________
--Nicole--
"Trying to be a perfect mother is a recipe for perfect insanity." -- SurpassingPeace
"I don't know what I just ate, but it was good" -- recent customer (farmer) at our restaurant.
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RE: Self-Employment - 9/28/2008 10:17:24 PM
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RepentanceIsRequired
Posts: 1110
Joined: 9/14/2005
From: Home is where the heart is.
Status: offline
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I have a consultation set up with the CPA tomorrow morning. I want hubby to come with me because I think it is important that he knows what is going on (and I am not very good at explaining things). I also want him along because he always has questions that I would have never thought of.
_____________________________
--Nicole--
"Trying to be a perfect mother is a recipe for perfect insanity." -- SurpassingPeace
"I don't know what I just ate, but it was good" -- recent customer (farmer) at our restaurant.
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