[olug] Part-time Self Employment (Side Jobs)

[Bill Brush]

Anything I tell you is going to be at best 2nd or 3rd hand, so take it for
what it's worth.

Regarding tax implications, I would talk to either a) an accountant, or b)
the Neb. Dept. of Revenue.   The accountant can help you through the
various and sundry accounting pitfalls with an eye towards minimizing your
tax liability.  The NDR will tell you what you need to know to be in
compliance with tax laws.  There is a whole division of the department
geared towards helping people.  It's call "Tax Payer Assistance".  I could
probably find you a contact name over there if you didn't have any luck
elsewhere.

The one thing I can tell you without any reservation is that anything you
do with electrical, plumbing or actual construction that may cross into the
building codes area, you're going to need an electrician, plumber, and/or a
general contractor license  IF the job requires a building permit.  Most
small jobs do not, but some apparently minor jobs DO require permits.  As a
home owner I've had to avoid the building inspectors on a few projects,
simply because I didn't have the money for the project AND the permits.
Home owners can get the permits and say they're going to do the job
themselves, but that puts any liability on them, so some may not be hip to
that.

As a third resource I would stop by the library or book store and look for
a book on starting a small business.  Metric ass-tons available on the
subject.

Good luck.
Bill




                                                                                                                                 
                      "Eric Penne"                                                                                               
                      <epenne at olug.org>        To:       <olug at olug.org>                                                         
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                      04/22/2003 02:22                                                                                           
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Whatever you want to call it, I've become more fond of "side jobs" away
from whatever 40 hour job I may be at.  Some of the list members are Self
Employed and many more of you do "side jobs".  I have lots of questions
about this but not all of them are formed in my head yet and I need some
help organizing them and asking them legibly.  Most of them are about
taxes since that season just ended.

I want to do more side jobs but I keep worrying about the tax
responsibilities and other little details that a normal 40 hour job takes
care of in HR/Acct./somewhere else.

What do I need to make sure I do to keep my nose clean? As an independent,
do I need to fill out tax paperwork with my client?  If so, at what dollar
amount?  Do I have to claim part of my house as a home office or is it
just more of a pain in the butt?  What paperwork to I need to help me file
my taxes?  Can I open a "business" account separate from my personal
account?  Are there restrictions on the name of my company like Eric Penne
Company vs Eric Penne Consulting and Construction of Large Projects?  Are
there any good books available that people on this list have read?

I've done ethernet wiring, plumbing, report writing, and basic
construction as my "side jobs",  how can those be used on a resume to show
your skills and work ethic, rather than just look like you didn't like
your main job?