manlymatt83
Lifer
OK here's the deal and my situation:
1) Location: I currently live in South Jersey. I'd like to eventually move back to North Jersey, as stated in previous threads. South Jersey is not fun for me and most of my friends are up in North Jersey.
2) Education: I'm currently set to graduate this May with one degree. I have enough credits for a second degree but am missing one class and would have to stay down here through December to get the Political Science degree. Right now I'm expected to graduate in May with a Political Science MINOR and a Computer Science MAJOR/BACHELORS. I don't know if its worth it to stay the extra semester just to change the minor to a bachelors.
3) Projects for free: I am very interested in doing things for less-developed countries. My professor and I run a small "unofficial' service where we host/design websites for organizations in the third world. We've considered starting a 501(C)(3). This is part of the reason I want to get my political science degree... I've put so much work into the coursework and the volunteer work it would be a shame not to, plus this Professor is the main professor in the program and I would be taking most classes with him (those remaining).
4) Side Projects: I'm currently doing work on the side for three different people.
First is a contractor in South Jersey whom I do computer work for. He has his own company. I bill him and he pays me on a 1099. This is stable work but wouldn't really change even if I moved to North Jersey (I could still come down to do the work on weekends if needed).
Second is my Uncle. I'm doing a LOT of work for him now... but its the same thing ... 1099. But most of the work I do for him is designing websites, and pretty soon, I think he'd like to switch the websites I design/create over to my server, and therefore, I would need to charge him a recurring monthly fee, which means i would have to be some kind of entity (an LLC, etc.). I don't know if this would be worth it in creating the LLC .... I could just put the server in my Uncle's name (he is an LLC), and have him pay the monthly bill, and then I could just bounce off of him.... or just send all my customers to him and have him cut me a paycheck instead... I dunno there's ways around it.
Third is with my friend Adam. Him and I are starting some websites on the side, some of which could become very popular. He already has an Inc. that he wants to put these sites under. However, I am also doing some projects on my own (ESPECIALLY when I graduate in May and have much more time to work on side projects). I've had a bunch of ideas for a while, and I also have the resources to make them happen (the server, skills, etc.).... so I'll somehow need some sort of protection in case someone using my service sues me or I decide to collect money as a recurring fee, etc.
Finally, I'd like to start doing more side work for people. There's a bunch of people on forums who pay pretty good amounts for PHP/UNIX/MySQL work. I'd love to be able to bill these people as a company, rather than as a 1099 or under the table... to keep things legal. Would an LLC be needed here too?
Anyway, I guess you can see there's also a subplot to this thread. I have SO many options right now and I don't know what to do with myself... do I stay in South Jersey, and get my second degree.... or do I just stick with the first one in May. Do I create the LLC, or do I just try to filter through my Uncle's company for any other projects we do. If I create the LLC, is there a way to avoid getting double taxed. Should I just forget the LLC, graduate in May, and move up North where I want to be and get a job somewhere in NYC (which I am currently interviewing for now)....
SO many ideas. The main thing I keep thinking is that some of my side projects wouldn't require a lot of investment and could be very successful as side income.... and that keeps me thinking that I have to at least try. Everything else (the second degree, moving, the job) is just a big confusion to me.
Someone with more experience than I am comment on this please 🙂 There's no longer the issue of the girl anymore. That's all gone. Now, its what the heck to do with myself now that I have all these options......
ATOT FTW 🙂
-Matt
CLIFFS:
- Want to do side projects
- Want to eventually move
- Don't know whether to get my second degree or not
- Bunch of side projects will be succesful if I actually find time to do them
- Create the LLC for my side projects and contracting work? Or try to filter through my Uncle who also has an LLC? Or bill my sides as 1099's?
- There's a lot more to this though, if you can read the thread 🙂
1) Location: I currently live in South Jersey. I'd like to eventually move back to North Jersey, as stated in previous threads. South Jersey is not fun for me and most of my friends are up in North Jersey.
2) Education: I'm currently set to graduate this May with one degree. I have enough credits for a second degree but am missing one class and would have to stay down here through December to get the Political Science degree. Right now I'm expected to graduate in May with a Political Science MINOR and a Computer Science MAJOR/BACHELORS. I don't know if its worth it to stay the extra semester just to change the minor to a bachelors.
3) Projects for free: I am very interested in doing things for less-developed countries. My professor and I run a small "unofficial' service where we host/design websites for organizations in the third world. We've considered starting a 501(C)(3). This is part of the reason I want to get my political science degree... I've put so much work into the coursework and the volunteer work it would be a shame not to, plus this Professor is the main professor in the program and I would be taking most classes with him (those remaining).
4) Side Projects: I'm currently doing work on the side for three different people.
First is a contractor in South Jersey whom I do computer work for. He has his own company. I bill him and he pays me on a 1099. This is stable work but wouldn't really change even if I moved to North Jersey (I could still come down to do the work on weekends if needed).
Second is my Uncle. I'm doing a LOT of work for him now... but its the same thing ... 1099. But most of the work I do for him is designing websites, and pretty soon, I think he'd like to switch the websites I design/create over to my server, and therefore, I would need to charge him a recurring monthly fee, which means i would have to be some kind of entity (an LLC, etc.). I don't know if this would be worth it in creating the LLC .... I could just put the server in my Uncle's name (he is an LLC), and have him pay the monthly bill, and then I could just bounce off of him.... or just send all my customers to him and have him cut me a paycheck instead... I dunno there's ways around it.
Third is with my friend Adam. Him and I are starting some websites on the side, some of which could become very popular. He already has an Inc. that he wants to put these sites under. However, I am also doing some projects on my own (ESPECIALLY when I graduate in May and have much more time to work on side projects). I've had a bunch of ideas for a while, and I also have the resources to make them happen (the server, skills, etc.).... so I'll somehow need some sort of protection in case someone using my service sues me or I decide to collect money as a recurring fee, etc.
Finally, I'd like to start doing more side work for people. There's a bunch of people on forums who pay pretty good amounts for PHP/UNIX/MySQL work. I'd love to be able to bill these people as a company, rather than as a 1099 or under the table... to keep things legal. Would an LLC be needed here too?
Anyway, I guess you can see there's also a subplot to this thread. I have SO many options right now and I don't know what to do with myself... do I stay in South Jersey, and get my second degree.... or do I just stick with the first one in May. Do I create the LLC, or do I just try to filter through my Uncle's company for any other projects we do. If I create the LLC, is there a way to avoid getting double taxed. Should I just forget the LLC, graduate in May, and move up North where I want to be and get a job somewhere in NYC (which I am currently interviewing for now)....
SO many ideas. The main thing I keep thinking is that some of my side projects wouldn't require a lot of investment and could be very successful as side income.... and that keeps me thinking that I have to at least try. Everything else (the second degree, moving, the job) is just a big confusion to me.
Someone with more experience than I am comment on this please 🙂 There's no longer the issue of the girl anymore. That's all gone. Now, its what the heck to do with myself now that I have all these options......
ATOT FTW 🙂
-Matt
CLIFFS:
- Want to do side projects
- Want to eventually move
- Don't know whether to get my second degree or not
- Bunch of side projects will be succesful if I actually find time to do them
- Create the LLC for my side projects and contracting work? Or try to filter through my Uncle who also has an LLC? Or bill my sides as 1099's?
- There's a lot more to this though, if you can read the thread 🙂
