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  1. #41
    Quote Originally Posted by Louis-954 View Post
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    My business used to be a sole proprietorship up until 2014. Crash course...

    - You will be taxed on all profits of the business no matter how much you take for yourself.
    - You have to pay an annual self-employment tax of 15.3% to social security and medicaid. As a regular employee this tax is garnished from your paychecks throughout the year. As the owner of a sole-proprietorship though, you pay it with your other income tax.
    - One advantage is that you can deduct many things as business expenses to maximize profits (including start up costs!). Will you be working from home? If so, you can write off things like your internet and mobile phone bills. Is there a room in your home you have set aside dedicated solely to your work? If so, you're eligible for a tax break there as well.
    So basically everything is taxable right? Seems like it lol.

    Quote Originally Posted by Bold View Post
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    Saw this site a few days back, cool that you're kicking this off.

    In bed atm, but I'll send you a few links to articles of how to build a social media presence. Legit ones from guys who have actually built one. Wishing you the best of luck with it.
    Send me those links.

  2. #42
    http://kolektakon.com/
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    Quote Originally Posted by Pimp of Pimps View Post
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    So basically everything is taxable right? Seems like it lol.
    Could you clarify your question? Not *everything* is taxable.

    If you incorporate, you get a lot more tax breaks. Like I said before, SP's are subject to a self-employment tax, if you own a corporation though, only the salary you take out is subject to tax. You won't be taxed for your companies profits, only on what you pay yourself. Lets say your SP earns $100,000, a 15.3% tax would have to be paid on the entire amount come tax season. Now lets say you instead have a corporation that also earns $100,000, but you take $30,000 of that amount as a salary, in this case you wouldn't owe a self-employment tax on the outstanding $70,000, only on what you took for yourself.

    Also, I dunno if it matters to you, but corporations persist through death. SP's expire as soon as the owner passes. So if you have an heir, or someone you would want to inherit your business if/when you pass that's another reason to incorporate.
    Last edited by Louis-954; 05-09-2016 at 11:35 PM.

  3. #43
    https://www.youtube.com/channel/UCO1...BKGitI2F7_c_JQ

    Check this channel out for business studies. A treasure trove of information.
    @Bold; @Heart;

  4. #44
    PIERCE THE HEAVENS Bold's Avatar
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    “We fear discovering that we are more than we think we are. More than our parents, children, or teachers think we are. We fear that we actually possess the talent that our still, small voice tells us. That we actually have the guts, the perseverance, the capacity. We fear that we truly can steer our ship, plant our flag, reach our Promised Land. We fear this because, if it’s true, then we become estranged from all we know. We pass through a membrane. We become monsters and monstrous.”
    -- Steven Pressfield

  5. #45
    Long May She Reign Cersei's Avatar
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    Quote Originally Posted by Quiet View Post
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    in



    "Cersei is as gentle as King Maegor, as selfless as Aegon the Unworthy, as wise as Mad Aerys. She never forgets a slight, real or imagined. She takes caution for cowardice and dissent for defiance. And she is greedy. Greedy for power, for honor, for love."

  6. #46
    Execellent




    "Don't count the days, make the days count"

  7. #47
    PIERCE THE HEAVENS Bold's Avatar
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    @Y; @Pimp of Pimps;

    iirc, you guys have experience in coding.

    I dunno if there are any other coders on here, but I trust you guys so I figured I'll ask you two.

    I'm a total novice in coding and want to make money off it, but I'm a huge nerd so when I'm interested in studying something, I really get into it. Did some light reading and I'll do more obviously, but I've decided I'll start learning HTML & CSS, then Javascript, PHP, and jQuery. Once I'm very competent at each of them, I'll study Python and Ruby and then figure out where I want to go from there.

    What advice would you guys give me to get started and which languages would you say are going to be valuable in 5 or 10 years down the line?


    “We fear discovering that we are more than we think we are. More than our parents, children, or teachers think we are. We fear that we actually possess the talent that our still, small voice tells us. That we actually have the guts, the perseverance, the capacity. We fear that we truly can steer our ship, plant our flag, reach our Promised Land. We fear this because, if it’s true, then we become estranged from all we know. We pass through a membrane. We become monsters and monstrous.”
    -- Steven Pressfield

  8. #48
    Dynamics of an Asteroid Y's Avatar
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    Learn SQL, Java C#, C++ and Phyton and you're good to go.
    Every story needs a good old-fashioned villain.

  9. #49
    PIERCE THE HEAVENS Bold's Avatar
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    Quote Originally Posted by Y View Post
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    Learn SQL, Java C#, C++ and Phyton and you're good to go.
    You must spread some Reputation around before giving it to Y again.

    Mah, nigga.

    Will rep you when I can.


    “We fear discovering that we are more than we think we are. More than our parents, children, or teachers think we are. We fear that we actually possess the talent that our still, small voice tells us. That we actually have the guts, the perseverance, the capacity. We fear that we truly can steer our ship, plant our flag, reach our Promised Land. We fear this because, if it’s true, then we become estranged from all we know. We pass through a membrane. We become monsters and monstrous.”
    -- Steven Pressfield

  10. #50
    Dynamics of an Asteroid Y's Avatar
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    Quote Originally Posted by Quiet View Post
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    You must spread some Reputation around before giving it to Y again.

    Mah, nigga.

    Will rep you when I can.
    You're welcome
    Every story needs a good old-fashioned villain.

  11. #51
    @Pimp of Pimps; @X; @Bold; @Y; @Cake; @Alex.D Loss;

    Are there any aspiring copywriters in this forum?

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