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On Sun, 23 Sep 2012 14:36:48 -0700, Darren New wrote:
> On 9/20/2012 10:29, Jim Henderson wrote:
>> Once I know what's happening after this gig, I'll decide whether I'm
>> setting up a sole proprietorship or something similar myself.
>
> Unless you've set something up already, you're already a sole
> proprietor.
> Your choice is sole proprietor, partnership, or corporation.
I'm thinking in terms of incorporation, though - right now I'm paid
direct by my intermediary, but for tax reasons, there might be a benefit
to having a corporate entity of some sort be paid and then taking a
salary out of that, along with introducing benefits, such as pre-tax
(income tax, of course) health insurance payments.
But adding overhead of payroll taxes and the like might make it more
involved. We've just sent in our first estimated income tax, though,
which we're supposed to do quarterly if the income's over a certain
amount (it hasn't been to this point).
LLC is really popular here in Utah (and probably elsewhere as well).
Jim
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