Originally posted by fayraree
krypton, i'm actually trying to help because it's my job to provide (in certain cases) start-up businesses with loans, so i know this whole process better than most people (who don't make it their job).
yes, there are tax advantages to list expenses under a registered corporation as they can be written off as losses that you can claim when you eventually make some money. This way, you can accrue those expenses (especially any R&D, which as you said may take up to 10 years). However, you'll have to invest in an accountant to set this up properly for you because corporate tax planning gets very complicated. given where you are in your business planning process, most accountants will laugh at you but happily take your money.
you also have the risk of accruing so many expenses over 10 years that no bank would provide you with financing unless you can show that you have 2 x as much cash on hand as you have accrued losses so that the bank can be sure that you are not using its funds to finance those losses.
anyway, best of luck, and again, domesticated has raised some valid points; no comment on the mud slinging.
Nothing like having someone else prove your point for you. That was as tasty as a cold beer on a hot day.
Essentially, your two points are, I should not incorporate a company with $2000. I'm telling you for the third or fourth time, I'm simply starting a shell company. Apparently, you two don't understand I'm starting extremely small. Starting an actual venture, of some product/service, well, no shit, it takes capital. I'v already stated my plan is going to take 10+ years. FFS...
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Mar-16-2009 01:32
ziptnf
Programming your future
Registered: Jun 2008
Location: Louisville, KY
quote:
Originally posted by Krypton
Essentially, your two points are, I should not incorporate a company with $2000. I'm telling you for the third or fourth time, I'm simply starting a shell company. Apparently, you two don't understand I'm starting extremely small. Starting an actual venture, of some product/service, well, no shit, it takes capital. I'v already stated my plan is going to take 10+ years. FFS...
I've been reading through the thread... what exactly is your plan? You're going to invest in... nothing?
Domesticated is a douche. Don't waste your time on him.
Just do what you want to do. If you make mistakes, learn from them and move along.
Mar-16-2009 01:36
Domesticated
Supreme tranceaddict
Registered: Feb 2007
Location:
quote:
Originally posted by Lomeli
Domesticated is a douche. Don't waste your time on him.
I'd expect that much from a guy like you.
After calling me a douche, you've probably disturbed your cosmic balance. Could be time to get the crystals out and do another re-alignment of your chakras! Don't want any of that nasty negative energy having a detrimental effect on your spiritual life force.
Originally posted by Domesticated
I'd expect that much from a guy like you.
After calling me a douche, you've probably disturbed your cosmic balance. Could be time to get the crystals out and do another re-alignment of your chakras! Don't want any of that nasty negative energy having a detrimental effect on your spiritual life force.
Originally posted by ziptnf
I've been reading through the thread... what exactly is your plan? You're going to invest in... nothing?
Invest in stock/bond equity initially. I have to build up my capital to start a product/service. My plan is to incorporate now with a shell company, and slowly build up from there. Domesticated thinks I plan on starting a business venture with $2000 and expecting riches. Straw man logic FTL...
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Mar-16-2009 01:56
pkcRAISTLIN
arbiter's chief minion
Registered: Jul 2002
Location:
quote:
Originally posted by Domesticated
I'd expect that much from a guy like you.
After calling me a douche, you've probably disturbed your cosmic balance. Could be time to get the crystals out and do another re-alignment of your chakras! Don't want any of that nasty negative energy having a detrimental effect on your spiritual life force.
awesome.
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Mar-16-2009 01:59
zoogla
Guest
Registered: Not Yet
Location:
quote:
Originally posted by pkcRAISTLIN awesome.
+1
...okay, one last iteration of my advice, just because i'm feeling generous today
you should invest all your resources into coming up with the idea that you eventually plan on selling. this is the most important thing about your future business. without this, all the planning in the world won't help you.
keep all receipts for the expenses you accrued in coming up with this product/service, because you'll be able to eventually expense them even if they are in your personal name (because you could register as a sole proprietorship with the business in your name as a start, and eventually come up with a catchy name of your company that would suit the product/service you want to sell). Registering a company under the region's (provincial/state/federal) registry today won't help because you will likely have a numerical name and this is irrelevant; might as well wait until you have a good idea!
okay, i'm done. any further disagreement and i will join the flaming.
believe it or not there are people in the world who are different than you
domesticated: taking the cheapest of cheap shots
Mar-16-2009 02:40
Lomeli
Mountain Thug
Registered: Dec 2004
Location: Entuculo, Mexico
quote:
Originally posted by Domesticated
I'd expect that much from a guy like you.
After calling me a douche, you've probably disturbed your cosmic balance. Could be time to get the crystals out and do another re-alignment of your chakras! Don't want any of that nasty negative energy having a detrimental effect on your spiritual life force.
Yes. I bring out my crystal pipe and smoke a fatty bowl.
