I'm interested in starting a business. However, i'm unable to do it myself because i'm disabled and get many benefits both medical and social security that I cannot lose. This help from the federal and state level are extremely helpfull and very expensive so it is important that I do not make money. I was going to use my father as the business owner . In effect it will be his business and I woulds just run everything. My problem is this. Because he already has a business and earns money what would be the best way to setup the business so that when tax season come around calculating what my business cost him would be easier? It would kick him up to a different tax bracket so things would need to be divided fairly somehow?I thought if i started the business as an llc or corporation that would help because it is its own entity.. And in addition the corporation as well.
Is starting just a second business under his name the best way?
this wil be his bussiness what would best?
2006-08-24 08:00:53 · 3 answers · asked by stevieb95125 2 in Business & Finance ➔ Small Business
Get a partner and what if you make so much that you do not have to rely on the state and you can support yourself. Would that not be the most wonder feeling to support yourswelf over living off the system in which we all pay for you. I want you to get a partner and get youself kicking butt on doing kick butt on your own. find out every way to do it
2006-08-26 10:48:55 · answer #1 · answered by Anonymous · 2⤊ 0⤋
I'm on disability as well and what I did was started a home based business (yes it's legit, the presentation tells all about it) and I'm going from there. The goal of mine is to get to the point to where you're allowed so much to keep your SSI right? If you're used to living on that particular income, (for SSI benefits you're allowed to have $2,000 in your bank, after that you loose it)...by the time you reach that goal, you'll have made enough to substantiate that income....then comes the disability limit...by time you reach that amount, you'd be able to walk into Social Security office with a proud smile on your face and say "I no longer need your help...." That is MY goal. Right now my commission checks are still under the limits (since I just began a few months ago) so I don't even have to worry about it right now and the business is in my name. I don't go out and sell my products I do it all through the internet. You get your own office set up, training, a coach, and a lot of positive people within the business that are there for you to help you in anything you're needing help in. There's another couple that are both disabled and making it big. They are very precious people, and if they can do it? So can I!! So can you!!! So, visit http://www.bedavis1.mywayout.net/ and you'll see for yourself a simple presentation about the company and how it works. It's incredible! If you think you'd be interested in furthering your investigation on it, fill out the form and we'll get back to you. Then you can decide if it's the right one for you.
Robert Kiyosaki, of the Rich Dad Poor Dad series "The Business School" says this is the way to go to acheive your biggest dreams and desires. My desire is NO MORE GOVT!! I hate that they have the right to tell me how much I can have in my bank account or not, I hate they can tell me I can apply for food stamps or family's assistance but I can't do such and such. (which I don't have anymore due to inheritance). So think about what goals you want, what you desire, think about the attraction of your dreams what you want to create for yourself...and go from there!
Good Luck on your endeavor!
2006-08-26 08:22:55 · answer #2 · answered by BevD 4 · 0⤊ 0⤋
What's wrong with earning your own money, and paying taxes on it? What you are suggesting sounds illegal.
2006-08-24 08:08:02 · answer #3 · answered by Ralfcoder 7 · 0⤊ 0⤋