I set up a sole proprietorship under a DBA, meaning I do business as myself using a separate name.
>From what I understand, this just means that the money you make belongs to you, not the company, and that you're the one that pays taxes on it, not the company -- you get great tax benefits this way. On the flip side, you're liable for any debts you incur under that business name (meaning they can take your house and all other personal assets), and your spouse and his/her assets could be liable, too, if something bad happens. I've heard this is the best route for micro-businesses (which, if your number of employees = 1, then you're a micro-business). As far as contracts, I use a contract generation software called ContractEdge, which I tailor to each client. This is really because I haven't had a single client with the same needs. Always, always, no matter what, have a lawyer review whatever contract template you use. I go the extra step and have mine review every contract, period. You might check the National Association for the Self-Employed for more info about anything and everything related to self-employment, especially taxes and business structure. www.nase.org Shawna E. Hampton r(E)-Visions Consulting www.revisionsconsulting.net -----Original Message----- From: Todd Ashworth [mailto:[EMAIL PROTECTED] Sent: Tuesday, January 09, 2007 10:58 AM To: CF-Community Subject: For those about to contract we salute you! For those of you fine folks who contract for a living, how many of you have set up a company and how many just do it under your own name, as it were? I am considering incorporating, but am looking for advice on what type, or if I should even bother based on real experience. Also, what kinds of contracts do you use for setting up jobs? Generic? Specific to each job? Both? Examples? These are very general questions, so very general answers would be fine. I know these questions have been touched on before, but it never hurts to revisit. Thanks all! ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Create robust enterprise, web RIAs. Upgrade & integrate Adobe Coldfusion MX7 with Flex 2 http://ad.doubleclick.net/clk;56760587;14748456;a?http://www.adobe.com/products/coldfusion/flex2/?sdid=LVNU Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:224148 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
