Am so excited to be starting this new career, it's all I can think about. Have some questions though... I'm a little nervous about the tax end of this type profession. Is it smarter for me to wait 'til the beginning of next year to start this, in terms of both Self-Employment tax and filing yearly income tax? If I start this year, which I won't be able to do until probably late Sept or Oct, I'll only have a couple of months under my belt and think may not be worth it when I have to file next April. Any Ideas, anyone?
Depending on your start-up costs and how quickly you get clients, you may not be paying a whole lot of income tax, LOL!
No, seriously -- talk to an accountant if you have one, or know one who's friendly enough to give you an idea of what you're getting into -- or check out www.score.org, they have lots of retired executives, many of whom owned single prop. businesses and can give you good advice in this area.
------------------ Meredith Whisk For Hire Kensington, MD
