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Thread: Do You Operate (Mainly) as a Company or a Person?

  1. #21
    Will.Spencer's Avatar
    Will.Spencer is offline Retired
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    Quote Originally Posted by egk View Post
    My problem is that I live in California and they charge an $800 a year incorporation fee. $800 a year would seriously cut into online profits that I do as a hobby/side job!
    As I understand it, you can do a non-resident incorporation in Nevada, Delaware, or any other state with decent business law.

    Your body may be stuck in California, but your business doesn't have to be.
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  2. #22
    eXe
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    The way I see it; if the system doesn't respect you then you need not respect it. That being said, there are ways to do business as an individual fully legally even under the age of 18 in most countries (No government spares a child's income from taxation). My suggestion is to incorporate, or register another business entity like a proprietorship and use that for all transactions pertaining to the business.

    Branding your business/services offered is a different issue & up to you how you choose to promote it.

    Personally I have registered professorships or partnerships for each business I am involved in, even though a lot of my customers know me personally.
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  3. #23
    Charles's Avatar
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    Quote Originally Posted by eXe View Post
    The way I see it; if the system doesn't respect you then you need not respect it. That being said, there are ways to do business as an individual fully legally even under the age of 18 in most countries (No government spares a child's income from taxation). My suggestion is to incorporate, or register another business entity like a proprietorship and use that for all transactions pertaining to the business.

    Branding your business/services offered is a different issue & up to you how you choose to promote it.

    Personally I have registered professorships or partnerships for each business I am involved in, even though a lot of my customers know me personally.
    Tax rates in NZ for businesses are 33% (and you are not eligible for the likes of Child Rebates).

    If you are earning up to $14,000 dollars yearly (which I am, as most of my earnings are reinvested) and are operating as an individual, you are required to pay 13.9%. You are also eligible for Child Rebates, which cuts off about $351.

  4. #24
    eXe
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    Now that you mention the figures, its evident that less taxes are to be paid as an individual. Maybe you should operate as an individual now, and when the earnings are at a level where they are taxed at 33% as both individual and company you can reevaluate the situation.
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    Charles's Avatar
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    Quote Originally Posted by eXe View Post
    Now that you mention the figures, its evident that less taxes are to be paid as an individual. Maybe you should operate as an individual now, and when the earnings are at a level where they are taxed at 33% as both individual and company you can reevaluate the situation.
    That's the plan.

    But I'm a fair while away from that yet. Looking forward to next year's tax cuts.

  6. #26
    webmarketer88 is offline Newbie Net Builder
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    Over the years, I had a few partnerships, but didn't do that well.

    So now I prefer to work for a living and operate without a company - best option for me at the moment.
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  7. #27
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    that was like a riddle from clash of the titans...but my answer is "Company"...just be sure to keep the financials separate. You will lose any "insulation" by co-mingling funds. Think, looks like a duck, acts like a duck, it's a duck. If you incorporate, but operate like an individual, then you're not protected...

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    m42 (24 December, 2008), Will.Spencer (24 December, 2008)

  9. #28
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    Keldorn's Avatar
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    I have been thinking of registering as a sole proprietorship probably soon, then just link my other sites to this company name as a "DBA" (Doing business as). But I have read this (For my country)
    Corporations Canada - Chapter 1 - Why Should I Incorporate?

    It sounds like just alot of red tape too me. Also the shares and bonds how would you sell those? Looks complicated.

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