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  Post #16 (permalink)   06-18-2008, 06:54 PM
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One of the biggest differentiators between being profitable or not when you are starting up is whether you have to pay yourself a salary. If you're doing this after work and can afford to not take money out of your new business, it can be easier to show a profit. If, on the other hand, you're doing this full-time, then you need to include your salary in your profit/loss.
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  Post #17 (permalink)   06-18-2008, 07:56 PM
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Quote:
Originally Posted by The Hosting Team View Post
One of the biggest differentiators between being profitable or not when you are starting up is whether you have to pay yourself a salary. If you're doing this after work and can afford to not take money out of your new business, it can be easier to show a profit. If, on the other hand, you're doing this full-time, then you need to include your salary in your profit/loss.
Quite an outstanding point here.

The beauty of running your own business allows for some movement, accounting-wise. What I would have recommended is this. You look at your personal income tax rate and corporate tax rate. You adjust your salary (considering your company is profitable) to either show larger or lower profit to reduce tax you pay.
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  Post #18 (permalink)   06-19-2008, 07:30 AM
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Brilliant idea, Atrashes and The Hosting Team!

I agree, you need more experience before you jump in. I was planning to jump in just a few weeks ago but when I realized that the experience that I thought was good was actually a very small amount of experience so I took a job at another hosting provider. It's been wonderful since.
 
 
 


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  Post #19 (permalink)   06-20-2008, 12:46 AM
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Brilliant idea, Atrashes and The Hosting Team!

I agree, you need more experience before you jump in. I was planning to jump in just a few weeks ago but when I realized that the experience that I thought was good was actually a very small amount of experience so I took a job at another hosting provider. It's been wonderful since.
Well I think that you need to start at least and then only make a decision and choose the concern. IMO
 
 
 
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