It's Time to Do Something
Dec. 8th, 2008 04:17 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
errantemberAfter letting myself proceed in a semi-productive-but-unfocused way for several weeks after losing my job, it's time to start setting goals and deadlines to get things back on track.
My original long-term plan was to switch from working full-time in the corporate world to contracting, so I could work for, say, six months, save a big chunk of change, then take some time off before getting my next contract. I realized sometime this weekend, that I have *already* accomplished that goal!
I completed work for my previous company, the contract ended, and I am now a free agent with at least six months of money in the bank in need of the next contract. Not only is this exactly what I wanted, but I accomplished it by getting laid off, which is exactly the kind of Victory by Default that makes my dick hard.
One thing I was reminded of by the Get Motivated conference that was already part of my long term plan was the need to incorporate ASAP. Even if you work for someone else, having your own corporation has a large number of tax advantages, which puts real money back in your pocket. However, to do this, one has to actually make money that can be written off, and although I have a few side businesses that I'm planning to formalize, I think that for my Next Step I'm still looking at getting my primary income from a "normal job." The best way to handle this, though, is to incorporate, and then have the corporation negotiate a contract with my "employer." What this means is that the corporation gets the main income, out of which comes my retirement, my health insurance, and whatever write-offs I can justify, before paying myself as little as humanly possible to keep my personal taxes very low. I'm not sure I'll be able to organize all this before I get another job, but if I choose to work as a regular full-time employee somewhere, it will only be a stop-gap measure to break into a new industry and pay the bills until I'm ready to incorporate.
My original long-term plan was to switch from working full-time in the corporate world to contracting, so I could work for, say, six months, save a big chunk of change, then take some time off before getting my next contract. I realized sometime this weekend, that I have *already* accomplished that goal!
I completed work for my previous company, the contract ended, and I am now a free agent with at least six months of money in the bank in need of the next contract. Not only is this exactly what I wanted, but I accomplished it by getting laid off, which is exactly the kind of Victory by Default that makes my dick hard.
One thing I was reminded of by the Get Motivated conference that was already part of my long term plan was the need to incorporate ASAP. Even if you work for someone else, having your own corporation has a large number of tax advantages, which puts real money back in your pocket. However, to do this, one has to actually make money that can be written off, and although I have a few side businesses that I'm planning to formalize, I think that for my Next Step I'm still looking at getting my primary income from a "normal job." The best way to handle this, though, is to incorporate, and then have the corporation negotiate a contract with my "employer." What this means is that the corporation gets the main income, out of which comes my retirement, my health insurance, and whatever write-offs I can justify, before paying myself as little as humanly possible to keep my personal taxes very low. I'm not sure I'll be able to organize all this before I get another job, but if I choose to work as a regular full-time employee somewhere, it will only be a stop-gap measure to break into a new industry and pay the bills until I'm ready to incorporate.
