3
votes
1answer
66 views

Should I keep separate the capital used by my two businesses?

I have two kinds of business. I sell stationery and pants. Each business has it own capital. But I have trouble with the stationery business capital – some bad credits happened in the business. ...
1
vote
1answer
254 views

For a sole trader, what is the benefit of using a business bank account?

First of all: Are you allowed to have two personal current accounts with a debit card attached to each one? If yes, can a sole trader in the UK use the second personal account for business ...
1
vote
2answers
395 views

How can I get a mortgage as a small business owner?

My partner and I are considering buying a home. We're both half-owners in our own small software company. Our business has been around for three years, has always been profitable and profits have more ...
6
votes
2answers
278 views

I may earn a lot of cash soon through self-employment on a lucrative project. How to handle the tax?

I'm in Canada, and am young and don't know anything about finance. I've been working part-time as a software consultant for a friend who's starting a marketing company. He recently landed a job with ...
4
votes
1answer
3k views

I'm self-employed with my own LLC. How should I pay myself, given my situation?

I do a ton of freelance web design and decided to setup a simple LLC so I could have a credit card to make business purchases with. From my limited understanding, I can choose to be taxed as an S-corp ...
8
votes
3answers
3k views

Full-time work + running small side business: Best business structure for taxes?

Currently I have a full time job (IT industry) but from time to time I do a side project. Most of the times my clients agree to pay me cash as the amounts are not large. However, last year there ...
6
votes
1answer
664 views

What are the benefits and downsides to an LLC vs. Sole Proprietorship vs. Individiual?

As a followup to my previous question, what benefits are there for an LLC vs. a Sole Proprietorship? What are advantages and disadvantages to both and also vs. just being paid as a person?
7
votes
3answers
302 views

Is it worth working at home to earn money? Can I earn more money working at home?

I am just started using basicallymoney.com... My question would be Is it worth working at home to earn money? Can I earn more money working at home?
19
votes
4answers
1k views

When should I start an LLC for my side work?

I am doing quite a bit of sidework this year and wondering at what point would it be a good idea to "start a business" and bill through that.