Apr 05 2007
Turning To The Dark Side: Creating A Business
My Dreamhost account hosts over 20 domains. Word is getting around that I offer cheap web hosting, so more people are asking me to add them, in addition to getting enquires about creating websites for some companies.
Should I become an official business? My main concern is liability: if someone decides to be an asshole, I don’t want my family affected (”effected”? I hate those words.) by any lawsuit. Plus, I heard that there are some income tax reductions I can use if it’s business related, like buying a new computer, etc. I haven’t googled this yet.
I think incorporating costs a few hundred bucks in New Brunswick.
And if I DO incorporate, what should I call the business? Cairns Computer Consulting? Steel White Table, Inc?
Back in college, we were told that if you incorporated, which costs slightly more than starting a regular business, any lawsuits filed against you could only take money from the business account, and you personally aren’t responsible for anything. You have to keep the moneys separate though, and probably watch your business accounting. Perhaps pay yourself a hefty salary so the business always has very little liquid assets?
Can i be your CEO? i’ll tell you how things should be done, you do them, and i’ll take…. oh, 25%. That sounds fair!
call yourself “annapoli pizza and computer services” in deference to a childhood staple….but i would stay away from the hasish sideline business…hey i need a web site for the market….i could hire you….seriously…and i know nothing about computers,boxie electronic things..your company could soak us…except we have very little assests…i think what chris says is accurate..there is also sole proprietorship which is less expensive but i am unsure of the liabilty stuff…i have nothing so liablility is never an issue…assest 1986 diesel, 1986 beemer, 1974 beemer…total assests and retirement investment….hey i have tried to send pics of the dog…but bounced will try again…
ohh yeah and if you ever are really successful…i want one of those quebec type advertising executive positions….ohhh yeahhhh