recruiters, etc...

[Janicki at ia-inc.com (Chris Janicki)]

1.  I used to have Blue Cross Blue Shield.  It cost me about $175/mo to 
cover myself.  (If you have a family, be prepared to pay $500/mo!!!)  
They set me up as a company "group", with me as the only member.  It was 
actually pretty easy.  (I've gotten married since then and now on my 
wife's policy... much cheaper.)

2. I structured as an S-Corporation.  It provided "corporate protection" 
and makes you look a little bigger (maybe just bigger in your own eyes), 
but requires a minimum ~$500 state tax filing fees, even if you don't 
make any money.  I'd probably recommend just going as a sole proprietor 
for now, maybe changing to a limited partnership later (assuming you get 
a partner).  There are plenty of books available on these options... they 
are all so-so. I'd somewhat recommend "Starting & Operating a Business in 
Mass.", by Michael D. Jenkins.

3. I use Interpay.  It costs me about $30/month, but it saves a few 
headaches.  (I try to avoid accounting stuff.)  They mail me checks for 
myself, the state and the fed, every month.  (I chose to do payroll 
monthly.)  And they file about 4 forms and payments quarterly 
(unemployment insurance, state stuff, etc.)

If you simply become a "sole proprietor" rather than incorporate, it may 
be easier for you than that? 

You can try Quickbooks Pro, but their services will probably cost you the 
same in the long run, since you'll need to subscribe to some recurring 
services (tax table updates, etc.).  I use Quickbooks Pro for my 
accounting needs (but not payroll).  I hate it, and the fact that the 
Intuit company puts out annual updates that make their data files (your 
account info) non-backwards compatible.... that means that if you give a 
disk to your accountant who's running a newer version, they'll be able to 
see your info and do your taxes, but they can't make any corrections for 
you (aka "journal entries").  I've been stubborn about updating lately, 
so my accountant has to print out his journal entries, and I copy them by 
hand into my system.  The changes are always few, so I live with this for 
now.   The Quickbooks upgrades simply don't offer much more than pretty 
new icons, or new standard reports, IMHO.  Unfortunately, Quickbooks is 
still the best "friendly" and affordable accounting package out there.  
I've heard Peachtree's software  is geared a little more towards real 
accountants, and I think they have the same nasty habit of annual upgrades.  

My best advice is to find a nearby accountant who you feel can hold your 
hand while your starting.  There is just so much crap to know.  So many 
government organizations want to know about you and take their cut of 
your pie.  And you don't want to be late with anything, cause they'll 
take more.  But don't worry, once you're in the groove, it's easy... just 
a nuisance.  I've found that accountants will gladly meet with you for 
free to give some advice and hopefully bring you on board as a customer.  
Look in your yellow pages for a CPA.


Good luck,

Chris Janicki
Industrious Activities, Inc.
http://www.ia-inc.com



Original Message dated 12/6/01, 12:48:52 AM
Author: "Kuan Lee" <kuanlee at erols.com>
Re: Re: recruiters, etc...:


To turn from recruiters to small business owners....
 
Since there are a lot of gurus on this list, a fair amount of people must 
run their own 1-man consulting business.
I'm just getting started, have a ton of questions, and would really 
appreciate a pointer to good resources.
 
Questions I have are like:
    1. How should I get health insurance coverage?
    2. What's a good way to structure the business, from an accounting 
perspective?
    3. How do you pay yourself?  Important !!
 
Etc...
Any pointers would be helpful...including any good accountants that you 
feel comfortable referring.
 
Thanks,
-==-
Kuan Lee
email:   kuanlee at erols.com
cell:    (617)-448-0601--