Sole Proprietor In SoftwareThis book is meant to be read from start to finish as it is a chronological account of my Limited Liability Company from start to finish. I feel that it will be helpful to people in similar situations, or even someone just looking to take on all aspects of a small business themselves. The primary focus is on taxation, legal issues I ran into, and ideas I had to make my LLC taxed as an s-corporation a success financially (such as s-corporation taxation election, self-employed IRA, and Health Savings Account). It should be said that no warranty or assurance to the validity of the information in this book is provided, so read at your own risk. Content of the book was initially written in a weblog as the events were happening, so it shows how difficult many aspects of starting and managing a business are for someone who isn't part of the finance or business fields. Keep in mind that knowledge was built as I went along, so you will find that I made wrong assumptions, which were eventually corrected toward the end of the book. I went back through the text and included edits as necessary to resolve any misconceptions I had at the time for the sake of readers.The beginning of July, 2008...As I post this, it is 10pm, ideally I should sleep around 9pm, yet I rarely if ever do that. Maybe it's my obsessive nature, or maybe it was those two cups of green tea I drank at dinner.Anyways, my goal here is to document and store data about my transition from working for a staffing agency at my employer to being in business for myself. I've already researched a decent amount about what I need to do, but there seems like quite a bit more I need to do before I take the plunge.Who am I?A 26 year old software developer in Illinois, USA.What is the point of converting to my own business? Fame and fortune? Maybe... excluding the 27% increase in pay, I plan on using my new found business ability for other ventures. Getting rid of a staffing agency that just happened to have an agreement with the company I work for? Most definitely. Dropping the staffing agency for other reasons like their pseudo-group health insurance that is insanely expensive, yeah, that too. HSA here I come. Breaking the knowledge barrier to starting a business. Hopefully no lawyers or CPAs for me. I love to learn and do things on my own.While I'm expecting a lot of extra work, I look forward to it. Taking my financial future into my own hands as apposed to just taking a paycheck, is something I've always wanted to accomplish.
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