Self Employment

Hans Fugal hans at fugal.net
Thu Jul 21 09:02:32 MDT 2005


On Fri, 15 Jul 2005 at 16:50 -0600, Sean Kirkby wrote:
> Whether or not you need a legal entity probably will have to do with how
> much part-time consulting work you plan to do.  IANAL, so consult an
> accountant and/or an attorney for advice.  If it won't be a significant
> source of income, it may not be worth the hassle to set up an LLC.

In this situation, it's going to be a primary source of income while
going to school, so 10-20 hours a week. So let's say somewhere in the
range of $20k to $35k of income. I know y'all aren't lawyers and
accountants, but it's just math... In your experience, are there tax
savings at that level of income that more than offset the cost of a set
of these lawers and accountants? If the answer is indubitably yes, then
I will be happy to go consulting. And of course I'm reading lots of
stuff on the web and in the bookstore and will in the end make my own
informed decision.

Thanks!

-- 
 .O.  Hans Fugal            | De gustibus non disputandum est.
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