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I did it after being RIFed, now LLC
Posted by johnf (more from johnf) on Tue, 13 May 2003 17:58:27
In Reply to: OT: bRAD Inc?, bRAD, Tue, 13 May 2003 12:12:57
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After being let go (along w 8 others) by my previous employer, one of my associates & myself set up an LLC to continue our specialty (corp e-mail) privately. The upside is that the income is excellent. The down side is the tax paperwork (as SAABGirlie said get prof. assistance), sometimes LONG hours, and lack of health ins. All in all, though it's great; we buy our hardware/software thru the LLC, which saves the 15% FICA tax from the gross, we get discounted prices from Compaq(HP), MS, & Lotus, and I get to write off 20% of all the expenses of my house.
If you have enough cash up-front to survive until the first contract is billable, and the other issues don't scare you; GO FOR IT.
posted by 68.18.13...
Posts in this Thread:
- OT: bRAD Inc?, bRAD, Tue, 13 May 2003 12:12:57
- I did it after being RIFed, now LLC, johnf, Tue, 13 May 2003 17:58:27 <-- Viewing This Message
- CCRA will know, Trev, Tue, 13 May 2003 13:15:46
- Be an S-Corp or LLC, Hood, Tue, 13 May 2003 13:02:07
- about saabgirlie inc, saabgirlie , Tue, 13 May 2003 12:56:24
- Or Self Unemployed......, Richard Miller, Tue, 13 May 2003 12:47:16
- Are you quitting your job?, FrozenSaab, Tue, 13 May 2003 12:17:18
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