Business & Investing
Sponsored by

Starting my own business - help

2,509 Views | 18 Replies | Last: 6 yr ago by ClassOf17
ClassOf17
How long do you want to ignore this user?
Okay guys, I've finally finished coding my website and want to start my own graphic design business. I am employed full time in a franchising company and do work for only our brands; so my freelance design business would do work for others.

My question is this, does anyone know what I need to do to be able to run this business, legal wise? I assume there's some taxes I need to pay, registered, etc. but I don't know anyone who can help.
ClassOf17
How long do you want to ignore this user?
Also, this would be only me working from home after my actual work day.
ATM9000
How long do you want to ignore this user?
AG
Make sure your company is ok with it and you guys have agreed on guidelines for it.

I had a friend who worked for a design company and opted to start his own company doing freelance work on the side thinking it was cool as long as he didn't do stuff for current clients... turns out they weren't and he got fired.
ClassOf17
How long do you want to ignore this user?
ATM9000 said:

Make sure your company is ok with it and you guys have agreed on guidelines for it.

I had a friend who worked for a design company and opted to start his own company doing freelance work on the side thinking it was cool as long as he didn't do stuff for current clients... turns out they weren't and he got fired.


Well I currently work for a franchising company, and we just do work for the 11 brands we own. We're not a design company, I'm just employed in the company as a graphic designer. And freelance work is okay as long as it doesn't interfere with out current work.

But I will definitely make sure it's okay. Thanks for the heads up!
IrishTxAggie
How long do you want to ignore this user?
AG
Probably need to form a corporation. The Wonderer is a poster here that set up mine.
Copp
How long do you want to ignore this user?
Pm me if you don't mind. Might be looking for some design work
Long Live Sully
How long do you want to ignore this user?
AG
If it was me, I would just operate as a sole prop under my SS# until you have enough business to structure yourself as a business. Incorporating serves to provide tax advantages and legal protection. I can't see that you have much liability in design so the expense of incorporation is a waste from that standpoint. And until you have enough income from the work the tax advantages don't amount to beans.
ClassOf17
How long do you want to ignore this user?
Copp said:

Pm me if you don't mind. Might be looking for some design work


I cannot PM, but if you would like, I could shoot you an email.
Copp
How long do you want to ignore this user?
If you don't mind post your email and I will send you an email
n_touch
How long do you want to ignore this user?
Agree with the above poster. No reason to not be sole prop for a while. Exactly how I did it in the same field. The advabtages arent there in the beginning to worry about the additional hassle. I may be wrong, but in my experience it was not worth it.

Definately check with your other comoany. They may expect you to bring them work verse keeping it for yourself. It can sticky fast if it is not all out in the open from the beginning. Good luck with your venture. Its a lot of work and competing with over seas companies can be frustrating. Develop a good base and it is all worth it.

You can email me as well copp at sales (@) ntouchmarketing.com.
ClassOf17
How long do you want to ignore this user?
Copp said:

If you don't mind post your email and I will send you an email


The Wonderer
How long do you want to ignore this user?
AG
Agree with the others regarding speaking to your current company about this venture.

No issues working as a sole proprietor when starting off. I end up advising a lot of people to go that route because they wouldn't benefit from single-member corporate structuring's two main benefits (tax planning and shielding of liability).

If you are going to use a trade name (any name that is not your own as stated on government documents), make sure you file an Assumed Name Certificate with the county of your primary business location.
AgBank
How long do you want to ignore this user?
AG
Why is that Wonderer?

My non-legal mind understands that to be a d.b.a. If so, are d.b.a.s important to get filed?
ClassOf17
How long do you want to ignore this user?
The Wonderer said:

Agree with the others regarding speaking to your current company about this venture.

No issues working as a sole proprietor when starting off. I end up advising a lot of people to go that route because they wouldn't benefit from single-member corporate structuring's two main benefits (tax planning and shielding of liability).

If you are going to use a trade name (any name that is not your own as stated on government documents), make sure you file an Assumed Name Certificate with the county of your primary business location.


Could you email me at the email above your post?
The Wonderer
How long do you want to ignore this user?
AG
AgBank said:

Why is that Wonderer?

My non-legal mind understands that to be a d.b.a. If so, are d.b.a.s important to get filed?
Why is what?
AgBank
How long do you want to ignore this user?
AG
The Wonderer said:

AgBank said:

Why is that Wonderer?

My non-legal mind understands that to be a d.b.a. If so, are d.b.a.s important to get filed?
Why is what?
Why is it important to get a d.b.a filed?
The Wonderer
How long do you want to ignore this user?
AG
Because you are conducting a business under a name other than your actual name. The rationale behind the requirement is that it protects the public interest. It is a law to file such document.
ClassOf17
How long do you want to ignore this user?
AgBank
How long do you want to ignore this user?
AG
The Wonderer said:

Because you are conducting a business under a name other than your actual name. The rationale behind the requirement is that it protects the public interest. It is a law to file such document.
Thanks.
ClassOf17
How long do you want to ignore this user?
Refresh
Page 1 of 1
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.