Feb
7
LLC Partnership Taxes: 1065 and K-1
February 7, 2008 | 1 Comment
A Limited Liability Corporation (LLC) can be treated as an S-Corporation or as a Partnership by the Federal Government Internal Revenue Service (IRS) (you fill out form 8832 to classify it as Partnership). When I established my LLC I made it a Partnership: a very flexible arrangement that allows me to divide the earnings [...]
Feb
6
LLC Annual Report In Massachusetts
February 6, 2008 | Comments Off
Massachusetts requires Limited Liability Corporations to present an Annual Report every year, on or before the anniversary date of the corporation. They request you to confirm the information you entered at the time of registration or ammendment. And they leave you space to inform the state and your LLC members of any other important information [...]
Feb
5
Small Business Credit : DUN Numbers : Dun & Bradstreet
February 5, 2008 | 1 Comment
One of the benefits of incorporating is separating your personal liability from your business liability. Banks, however, do not like to loan to small business as easily as they do to people. People have a credit history and a capacity to earn money: and they try not to cease to exist when [...]
Feb
5
Jobless Recovery : Innovation Food
February 5, 2008 | Comments Off
Some people measure economy in Gross Domestic Product (GDP). Some others measure it in unemployment rates and number of jobs created. CNNfn is suggesting that our GDP will recover, but our job market will not (bear in mind our 4.9% unemployment rate is one of the lowest ones in the industrialized world). I think a [...]
Jan
16
Turning a Recession Into An Opportunity
January 16, 2008 | Comments Off
There is no denying that recessions are not good for anyone. People and companies are cash strapped and are afraid because they do not know when things will get better. Recessions do not give any reasons to celebrate about them.
Recessions, however, provide opportunities. Proactive people pick up themselves from the sad [...]
Jan
14
Specialization or Broad Market
January 14, 2008 | 1 Comment
I frequently ponder the question: should I go deeper into the same sub-market, or should I try to expand into a broader market? The kinds of services we offer in my consulting firm, so far, have been fairly specialized. Catering to big telecommunication companies, their resellers, or their vendors. On [...]
Nov
29
I Like My Job, For the First Time
November 29, 2007 | 2 Comments
For the first time in my life I can say I truly and completely like my job. Especially, since I do not have a job!
I have worked since I was in high school (summers only then). I have help positions from mail clerk / mail-database programmer on a government bureaucracy to Principal Consultant [...]
Sep
17
Watch Your Business Expenses (Self-Employed)
September 17, 2007 | Comments Off
Uncle Sam is lenient on business: you can deduct business expenses from earnings. This is a big difference from personal taxation: you are not allowed to deduct most living expenses out of a salary. However, there is a point where both things may get fuzzy: small business. Many small business owners [...]
Aug
28
Money Moving In The Opposite Direction
August 28, 2007 | 1 Comment
For a long while I had a rule: money that goes into investment account stays there. Dividends: reinvested, capital gains: reinvested, spare money in checking: invested. All of the money flowed into the Ameritrade stock brokerage account.
In my new stage in life I have to make changes on that rule. Now I am living out [...]
Aug
7
New Adventure Begins…
August 7, 2007 | Comments Off
For the 2nd time in my life I am going into independent consulting. Today I quit my steady job and will dedicate myself to pursuing consulting and software development projects – some of them going on for a while, but none producing a single cent yet. Will also dedicate some time to some [...]
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