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Started IT consulting. Advice needed!

Old 05-19-04, 01:05 PM
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Location: Austin, Texas XboxLIVE Gamertag: Golucky Timezone: Central (CST)
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Started IT consulting. Advice needed!

History: I meet a lady at my daughter's daisy troop meeting that told me that their IT guy had taken a full time job and stopped showing up. Being the nice guy that I am I told her I could help her company out. I've been in IT since '92, so the tech side is not a problem.

Info: The company is a small mortgage company in Austin, Tx (Less than 25 people). One server and twenty or so pcs/laptops, and all windows based. I talked to the owner, and told him that I normally charge $50 an hour, he said that was fine. So far I've logged about ten on-site hours, and a couple hours documenting. I plan for this to be a part time gig to make some extra cash, but I don't want to get screwed at tax time. I currently will not be reselling anything. Just consulting.

Question: How would you bill them? What about taxes? Do I need to get a DBA (doing business as) or can I just have them write checks to me? Any advice would be appreciated.
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Old 05-19-04, 01:20 PM
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If you plan on doing this to any extent or for more than one client it's best to get a company name and bank account under that name. Also a business license and you'll probably have to file a fictitious business name statement which handles your DBA. Just parttime with no hardware/software sales, it's not so important.

You will be expected to have paid in taxes quarterly so if this income makes much of a difference in your normal income (if employed) you should look into that or you'll pay interest penalties at tax time. I believe the rule is if you've paid in 90% of what you owe (or 100% of what you owed last year) by tax time you're ok. Something like that.
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