Help us name the biz...

[Jarvis]

I´ll tell you this,

all your hard work will most likely be payed for when you open a website and start answering hundreds of request
.

100q´s = one sale.

Think about it....
I have been doing this since ´97

What do you mean? I'm not sure I get what you're saying...
Be prepared for lots of bullshit?

[fporro]

I´ll tell you this,

all your hard work will most likely be payed for when you open a website and start answering hundreds of request
.

100q´s = one sale.

Think about it....
I have been doing this since ´97

What do you mean? I'm not sure I get what you're saying...
Be prepared for lots of bullshit?

lot's of it.
then put up with parts requests, pull them off and have buyer disapear into thin air.

i get tons of request like that on ebay, please get me a trani, a head, a blah blah blah and Poof. "All ready got it from some one else"

as per taxes, there's plenty of benefits if you declare it as a hobbie, or as a home based business. take all the deductions you are allowed and use any of the premium tax prepairing programs from quicken.

I been doing it it for years, all legit and pays for 100% of my mods and then some.

good luck,
Frank

[RobertK]

There isn't much difference between the two. S corp is just a based out version of the LLC. Most have to do with stocks and multiple ownership.

I don't think you want to create a tax shelter. The IRS will watch you like hawk. I bet you heard this on the radio.

Nope. I'm 1/4th owner in a computer business.

[Charlie]

Amesbury New and Used Salvage.

-Charlie

[Bimmerfanatik]

Once your a legit business on the web, someone will be watching you (IRS).

Yeah, I've been talking about this lately - as of right now all of my profits (For the most part) have been rolled into more cars, etc. So I haven't "seen" a profit as of yet. With the website, etc - I want to make sure no one is ticked off. Hence the tax paying must commence.

I was told that to incorporate was better from a friend today - but I don't know the differences...

Or we could forget about the website idea, just keep selling parts on forums and ebay, and NOT pay taxes.

They'll get you eventually Jarvis - as it is right now I should be claiming the income I've made so far. If this gets even remotely larger than it is - and it will - we'll have lots of cash in our pockets and banks with no source - and that gets questions asked REAL fast. Why not do it the legit way, and make more in the end with more exposure and customers?

[terrybpp]

Once your a legit business on the web, someone will be watching you (IRS).

Yeah, I've been talking about this lately - as of right now all of my profits (For the most part) have been rolled into more cars, etc. So I haven't "seen" a profit as of yet. With the website, etc - I want to make sure no one is ticked off. Hence the tax paying must commence.

I was told that to incorporate was better from a friend today - but I don't know the differences...

LLC is a corporation. Therefore you would be incorporated.

[Herb]

No limit bmw prarts. the "o" a redlined tack.

my .02

Herb