Originally Posted by
copperhead
I have plans to make the wood stripper this weekend. I understand the disability thing. I've worked the last 33 years on legit jobs. I decided to take last summer off and live in a tent with only a Coleman stove and a Dietz kerosene lantern. I did it for four months and it was an incredible experience. I stumbled on this job and I love it. I want to work for myself, I can make so much more because I work hard and fast. If I could find a legit job that was performance based I wohld do it. Right now the economy is bad but I hope it will turn around within the next year or two.
You could do both - work for yourself and cover your SS base - just pay your taxes and self-employment tax and whatever else is required where you live. You end up paying more because you are paying the employer's share of the SS but you have a lot of things you can deduct. Even if you can't afford an accountant on a regular basis, you can maybe afford to hire one as a consultant to help you get set up. Or the IRS will tell you how to do it for free- they even have publications.
It's easier to do all this at the beginning, than when the IRS or the state comes knocking on your door down the road. It's also good to have recorded income in case you ever need credit for something for your business.
It sounds like a good business plan, but math was never my strong suit. How do you plan to get that much insulated wire, if you don't mind me asking?
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