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Thread: How to get the ball rolling?
Jul 14, 2006, 10:56 #1
How to get the ball rolling?
Ok, so I'm a young web designer/developer with time on his hands and I'm thinking of setting up a few sites and watching the advertising money roll in, I've looked around at the best techniques and the golden rules posted in a sticky thread here at SP.
But what do I really need to get started? Is it as simple as setting up a site and collecting your money? How do I pay Tax for this money (I've never had to do this myself being 17)? If I receive this money through PayPal do I still pay tax? Do I have to register myself as a business? - I'm certainly considering starting a business so this would be a nice opportunity.
If I do have to register as a business what does that mean? What do I have to do for the government? What do I have to show them and how can they help me? If I start a business do I have to put 100% effort into it or can I remain casual for a while before I decide to really make and see that it is viable a career from this?
From the outside looking in the business seems like a jungle where stress governs the land, any help or direction would really be appreciated. Let me state that I'm from the UK, so UK tax and government laws will apply to me.
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Jul 14, 2006, 19:06 #2
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You're probably still being claimed as a dependant from by your guardian. They would be the one to ask about this. In the US you want to store between 20%-25% that will be used come tax-time.
Good luck with your new career!
Jul 19, 2006, 15:16 #3
I'm from the US, and am not being claimed as a dependant. How would any of this apply to me since I've often considered that idea too...?
I've often heard that as long as your design/client isn't charged over 500 dollars, that it is tax exempt. Is this true? Any feedback is thankful.