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chasta
Posts: 87
From: IL
Status: offline
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License for Freelancing? - 9/3/2003 23:44:56
Perhaps a silly question, but I have to ask it: do you need to go through all the same hoops to freelance as you do when starting a business? For example, do you need to get a business license, pay fees, etc. I guess I just don't really see the difference between a freelancer and a small business owner...? I'm thinking about doing some web work on the side but am curious if I need to get a business license first.
Thanks in advance for any input/advice. :)
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chasta
Posts: 87
From: IL
Status: offline
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RE: License for Freelancing? - 9/5/2003 13:54:41
Thanks for the reply, Mojojo. I'll look into it. I was thinking it might be a little too good to be true to be able to just jump out and start. Tax-man's got to get his money somehow, right? ;)
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Mojo
Posts: 2441
From: Chicago
Status: offline
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RE: License for Freelancing? - 9/5/2003 14:16:31
If you operate as a sole proprietor your business income gets rolled into your personal income. I think turbo tax even has a small home business tax program that combines any W2's with your business.
You can use the standard home business deductions (rent writeoff), car (this can raise some IRS flags so have your paperwork), utilities, computer and associated software, hosting, IP etc. and many other benefits.
I only incorporated because some manufacturers would only deal with me if I were a true company.
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mar0364
Posts: 3221
Joined: 4/5/2002
From: Florida, US
Status: offline
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RE: License for Freelancing? - 9/8/2003 10:10:40
You need to think about your client base and any liability you might get stuck with. There is a difference between a sole proprietorship and an S:corp when it comes to liability issues. Given the little amount it cost to open an S:corp it gives your assets and that of your business some comforting separation.
Just something to think about.
Rich
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“Stay committed to your decisions, but stay flexible in your approach.”
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mar0364
Posts: 3221
Joined: 4/5/2002
From: Florida, US
Status: offline
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RE: License for Freelancing? - 9/8/2003 23:34:45
Your correct you will probably be just fine doing a sole proprietorship. I was just making sure you had something to think about. A few hundred bucks is a cheap insurance policy.
Good luck.
ps: Please don't consider my remarks discourging.
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Easy Web
“Stay committed to your decisions, but stay flexible in your approach.”
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