Message from discussion OT questions about starting part time bus.

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From: Ignoramus16919 <ignoramus16...@NOSPAM.16919.invalid>
Newsgroups: rec.crafts.metalworking
Subject: Re: OT questions about starting part time bus.
Date: Tue, 3 Oct 2006 02:47:42 +0000 (UTC)
Organization: Altopia Corp. - Usenet Access - www.altopia.com
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On 2 Oct 2006 19:43:34 -0700, monkers <monk...@novocon.net> wrote:
> 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,

I would a) open an S corporation or another legal entity (I have an S
corp) and b) if you make any money at all, get a tax advisor who cares
about you and your deductions, not ust about getting a yearly check
from you. The amount of tax deductible things that you can do if you
turn your hobby into business, is considerable.

i