OT questions about starting part time bus. - rec.crafts.metalworking

Message from discussion OT questions about starting part time bus.
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From: "Jerry Martes" <j.jmar...@verizon.net>
Newsgroups: rec.crafts.metalworking
References: <1159843414.120438.302570@c28g2000cwb.googlegroups.com>
Subject: Re: OT questions about starting part time bus.
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Date: Tue, 03 Oct 2006 03:39:42 GMT
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"monkers" <monk...@novocon.net> wrote in message 
news:1159843414.120438.302570@c28g2000cwb.googlegroups.com...
>I was wondering if anyone could tell me how to go about starting a part
> time shop up? I would not be doing a lot of work, but would like to do
> this proper, and legal so as not to worry about the IRS or anything
> like that. Im a machinist full time but get request for machine work
> and welding on occassion. I know a lot of people say "just take cash"
> but that doesnt seem like the best solution.
>         What are the correct steps? I do not have an accountant yet,
> and I dont know anything about running a buisness. Any help would be
> great,
>                                Thanks,
>                                        Craig


  Hi Craig

  Most cities will make your life miserable with regulations you never 
thought of if you notify them that you are opening a machine shop.
  From my experience, you would be well advised to start your shop in a 
location that is as stealth as possible.   Dont decline cash.  I'd advise 
that you do your own accounting till that task is too burdensome.
  You will soon know if the shop is profitable enough to seriously effect 
your income and what you need to disclose to the governments, city, state, 
and federal.

  I have one bit of advice.   If you do get a shop going well enough to 
register it with the city, buy the property where your shop is.

                      Jerry

Jerry