| Author | Thread |
|
|
08/16/2007 03:20:21 PM · #26 |
| Oh the joys of having spent time working in a law firm and organizing everyone elses LLCs, S-Corps, Corps. Not to mention im related to the attorney, so all my legal advice...FREEEEE. |
|
|
|
08/16/2007 03:29:09 PM · #27 |
so you know the gig, I can't believe someone would pay to organize their LLC. Its so easy yet intimidating. People have this fear that 1 mistep and their business is screwed forever.
Don't really know about the other corps.
Its like the people who have "office" jobs where there is no deductions and all taxes are taken out of each check. They go and pay someone to copy numbers from the W2.
|
|
|
|
08/16/2007 03:52:03 PM · #28 |
| I got to do it the "right way" a lot, with all the documents, minutes, mission statements, stock certificates, stamps, licenses, secretary of state letters, etc. All the fun stuff. It can be intimidating, but its really just a matter of filling out stock forms. |
|
|
|
08/16/2007 10:33:06 PM · #29 |
Easy there big bad brad ;p I think your advice...as it has been stated here before...is numero uno on the OP's list, the rest of us are just spit-balling here. The more things running around this guy's brain when he talks to the business lawyer and accountant, the more questions he can ask. Subsequently, the more answers he can get. And (I know it runs true in my line of work) he probably will be taken a little more seriously by those pros if he has solid ground to start on. If you come in asking the right questions, posing realistic scenarios, and can skip ahead a few chapters in the "Starting a Business" textbook...you will make a better first impression with the people that can tell you as little or as much as they want about starting your own business.
And I know more than enough to get me in trouble, thank you very much, and have the rap sheet to prove it! :o
-drew |
|
|
|
08/17/2007 02:10:37 PM · #30 |
Originally posted by Jmnuggy:
ajdeleware,
Thats not entirely true for a complete write off. You need to be able to prove that its used primarily for business and even then you will only be able to deduct a percentage. Its the same as mileage reimbursement. You can only count miles that were driven for business. So if you drive to and from the office each day say 25miles, those 25miles are not deductable, only miles from the office to conduct business.
Here is an example from when i sold insurance. 100% commission no taxes taken out of paycheck so we wrote off everything we could. We also didn't have a local office due to us all being outside sales people. Anyway, each week we got an assignment in a specific town that we would sell in all week. If that town was 50 miles away and I drove from my house directly to my first appointment, those 50 miles were NOT deductable because it was considered getting to work. Any miles I did between that appointment and my last appointment were deductable. To get around this, we held morning meetings at a hotel in town. We would have a meeting and then go to your assignment. This allowed us to write off all miles between the meeting and the first apointment.
I had another job in which mileage deductions played a part, each day my boss would give me a piece of outgoing mail that I would drop off at the post office on my way to work. This made the miles from teh post office to the office deductable. Otherwise from my house to the office was not deductable. |
but a home office counts as your first business stop, making all your business miles deductable. |
|
|
|
08/17/2007 03:41:48 PM · #31 |
Originally posted by drewbixcube:
Easy there big bad brad ;p I think your advice...as it has been stated here before...is numero uno on the OP's list, the rest of us are just spit-balling here. The more things running around this guy's brain when he talks to the business lawyer and accountant, the more questions he can ask. |
Point noted and makes perfect sense. I just didn't want him to get the idea he can or should bypass the experts. There are so many things involved, even a person's Social Security comes into play depending on how they structure their business, that they may never know happened until many years down the road. |
|
Home -
Challenges -
Community -
League -
Photos -
Cameras -
Lenses -
Learn -
Help -
Terms of Use -
Privacy -
Top ^
DPChallenge, and website content and design, Copyright © 2001-2025 Challenging Technologies, LLC.
All digital photo copyrights belong to the photographers and may not be used without permission.
Current Server Time: 08/07/2025 10:20:12 PM EDT.
