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  1. #76
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    Originally posted by Deval
    First of all, who would seek legal advice in a forum? Don't. Second - You don't pay taxes until your parents report you as being independent. This is my .02.
    Are you quoting UK tax laws, US tax laws or Outer Mongolia tax laws ??
    You are right though direction from this forum not information but generalised statements like " - You don't pay taxes until your parents report you as being independent. " is just simply wrong!!!
    If that was the case every crook and conman in the world would have the business registered in the son/daughters/neice/nephew/nexdoor kids name.

    If in doubt seek professional advice as tax laws in any country are a minefield.
    Nil illegitimi carborundum
    I'm getting old and don't do drugs. I get the same effect just standing up fast.

  2. #77
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    If in doubt seek professional advice as tax laws in any country are a minefield.
    And those mines go off with a BIG explosion!

  3. #78
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    May 2004
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    Boston, MA.
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    So if that's wrong... tell me how I'm paying taxes if none of my money is coming out of my pockets to pay anything for the government. I had a lawyer tell me that. I'm quoting what she said (even though the quotes did not appear around the words).

  4. #79
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    Originally posted by Deval
    So if that's wrong... tell me how I'm paying taxes if none of my money is coming out of my pockets to pay anything for the government. I had a lawyer tell me that. I'm quoting what she said (even though the quotes did not appear around the words).
    Again!! what country, where and under what circumstances. The generalised statement you made cannot possibly fit all circumstances.

    In the UK if a company makes profit then it pays tax, not quite as simple as that but thats why accountants get paid as much as they do. If individuals take money then it is income or capital gains tax

    Incidently I would never consult a lawyer about tax returns, lawyers are the biggest crooks going. always consult an accountant for financial matters. Your pockets may become a lot emptier soon.
    Nil illegitimi carborundum
    I'm getting old and don't do drugs. I get the same effect just standing up fast.

  5. #80
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    Sep 2003
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    Deval, et al - this is not a place to ask for legal advice; nor does asserting your own understanding of tax laws make your version valid.

    Let me repeat: this is not the place to seek legal and tax advice, and given the divergence of tax laws for every locality, city, state, region, country, etc, no one but a trained (and preferably local) lawyer and accountant can help you.

  6. #81
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    May 2004
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    Boston, MA.
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    Sorry for the misunderstanding. But I live in the United States, and I was told be it truth or false, that in general, you don't pay taxes until your parents declare you independent. Don't have to take it seriously though.

  7. #82
    Originally posted by Deval
    Sorry for the misunderstanding. But I live in the United States, and I was told be it truth or false, that in general, you don't pay taxes until your parents declare you independent. Don't have to take it seriously though.
    Minors in the US do have to pay taxes (or their parents do) in certain circumstances. It depends on the amount of money they make. As everyone else said, consult an accountant for factual information.

    http://www.turbotax.com/articles/How...ensIncome.html
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  8. #83
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    Sep 2003
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    Originally posted by Deval
    Sorry for the misunderstanding. But I live in the United States, and I was told be it truth or false, that in general, you don't pay taxes until your parents declare you independent. Don't have to take it seriously though.
    You're not doing anyone a favor by continuing to post misinformation to a public forum. Taxes are inherently specific to each person, so posting "general" information that you've "heard" is a bad idea.

    I wonder how many people are going to read this and decide they don't need to pay their taxes .

  9. #84
    Good luck in your venture, there are really no legal implications as long as you have your parents co-sign on things.
    data center directory - The comprehensive data center resource. Version 2.0 coming soon!

  10. #85
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    Sep 2003
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    Originally posted by talkwebhosts
    Good luck in your venture, there are really no legal implications as long as you have your parents co-sign on things.
    Of course there are legal implications.

  11. #86
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    Sep 2004
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    Talk to an accountant!

  12. #87
    I agree rondo.

  13. #88
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    Oct 2004
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    Auckland, New Zealand
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    Originally posted by Deval
    Sorry for the misunderstanding. But I live in the United States, and I was told be it truth or false, that in general, you don't pay taxes until your parents declare you independent. Don't have to take it seriously though.
    As an individual you may not need to pay tax, but your company will if it makes a profit.

    Like many have said above me, find a lawyer or an accountant to help you.

  14. #89
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    Aug 2003
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    There are legal issues but they depend on where you are in the world

  15. #90
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    May 2003
    Location
    New Hampshire
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    Re: underage starting web host business

    Originally posted by samsonh
    Ok heres what I am going to do:

    I am 15 and am trying to start a hosting business

    I have rented a dedicated server from servermatrix, so far they have been wonderful

    I am getting an internet bank account from my parents.

    Is there any legal issues with this?

    My ultimate goal is to make exactly $200/month off of shared, reseller, and semidedicated servers (vps). This will pay for the server and any billing/support software that I purchase. Is posting offers and requests in forums going to get me to my goal in 2 months?

    Any good tips anyone can give me?

    Thanks

    Sure, I will give you some good tips: Don't do it. If you are taking people's money you owe them more than what you can possibly give them. What if somebody needs help at 10 a.m. and you are in school?
    Also the fact that you are asking all kinds of questions here that you already should have researched before you even thought of starting your business shows you have not done your home work and that you don't even know you have not done your homework. You lack the experience and maturity to run a hosting business. Sorry.

  16. #91
    If his site clearly states that he only offers live support during x-y hours, e.g. after he gets home from school until.. 10? Then there's no liability.

  17. #92
    Join Date
    May 2003
    Location
    New Hampshire
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    226

    you need some help

    Originally posted by will7
    Yeah, UK laws are different. I think he means legal stuff like tax forms etc. He won't have to fill in tax coz he's only 15 and in the UK, we don't pay tax till we're 16 and out of full-time education (so if you go to college or something, you still dont pay tax).

    Also, he is probly a Sole Proprietorship, for which, there is no age limit and you can wake up in the morning and just start trading, there and then. You don't HAVE to get business names registered or anything, but they advise you to. The same as they advise you to not start a business till you're 16 coz you might not know what you're on about - but they are just advisions.

    Also, he cannot incorporate until he's 18 - same rule as the U.S there. But he'd be fine for starting a Sole Proprietorship. Except, he still can't enter into legally binding contracts, but can sign contracts by means of agreement, but they won't mean anything in court.

    Think I filled everything in there...

    This is like the blind leading the blind. In the US it does not matter how old a person is when it comes to self-employment income. If this 15 year old genius wannabe starts a hosting business and has paying customers he will be liable for self-employment taxes. No way around that.
    If any of you care about getting the correct answers to your questions then contact a professional and if you are too cheap to pay for advice then contact your local SBA for help, but please don't subject the innocent public to your incompetence in running your own business.

  18. #93
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    Sep 2004
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    311
    SydneyJen, to me, you seem to be a very arrogant person. You are going around flaming people, telling them that they cannot run a business, but don't tell them how to improve their skills.

    I am thinking about employment tax laws there, they don't pay till they're 16, but when you earn your own income (self-employed), then they have to. As I said, UK LAWS!

    Oh, and what is it that gives you the right to go around saying he's too young to run a business (when if he just said, support during x to y hours, it'd be fine)? Do you run your own business? Is it a multi-billion dollar company?

    I'm not trying to flame you, but I just want to know. You could say it in a much nicer and improved way:

    "At this time, I do not think you are suitable for running a business. But improving on this, this and this and doing this might help etc"

  19. #94
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    Sep 2003
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    301
    Originally posted by will7
    SydneyJen, to me, you seem to be a very arrogant person. You are going around flaming people, telling them that they cannot run a business, but don't tell them how to improve their skills.

    I am thinking about employment tax laws there, they don't pay till they're 16, but when you earn your own income (self-employed), then they have to. As I said, UK LAWS!

    Oh, and what is it that gives you the right to go around saying he's too young to run a business (when if he just said, support during x to y hours, it'd be fine)? Do you run your own business? Is it a multi-billion dollar company?

    I'm not trying to flame you, but I just want to know. You could say it in a much nicer and improved way:

    "At this time, I do not think you are suitable for running a business. But improving on this, this and this and doing this might help etc"
    Tax and legal issues have very real and serious implications; it is not appropriate for anyone on this forum to offer up suggestions to "improve" in these areas. The only place to get tax and legal advise are official and authoritative sources, namely the government and those persons licensed to practice, such as CPAs and lawyers. The suggestion for improvement IS to go get proper tax and legal advise. There's no alternative.

    What gave SydneyJen the right to criticize is that this individual has not shown good common sense or business acumen. You don't have to have a complete understanding of accounting, economics, IT, law, etc to run a business, but you do need to know when to get help in these areas. Actually, it has nothing to do with age at all, mostly maturity and good sense. Asking for tax advise and posting misinformation does not demostrate either.

    I'm all for young entrepreneurship, but that doesn't mean that rules somehow don't apply. You still have to do research, plan the business, pay taxes, deal with legal issues, and more.

  20. #95
    Join Date
    Sep 2004
    Posts
    311
    Yes, I agree. My point was, what gives him the right to go around blatently insulting others and telling them they cannot run a business (he didn't say for what reason). For example:

    " 15 year old genius wannabe "

    " You lack the experience and maturity to run a hosting business. " (He should have gone into detail on the reasons why, and, like I said, explained how to improve).

    " if you are too cheap to pay for advice "

    " your incompetence in running your own business "

    There's a few examples, but I don't want to get into a flame war, so, I'll be quiet now!

  21. #96
    Join Date
    Jan 2002
    Location
    Scotland
    Posts
    919
    Originally posted by will7
    Yes, I agree. My point was, what gives him the right to go around blatently insulting others and telling them they cannot run a business (he didn't say for what reason). For example:

    " 15 year old genius wannabe "

    " You lack the experience and maturity to run a hosting business. " (He should have gone into detail on the reasons why, and, like I said, explained how to improve).

    " if you are too cheap to pay for advice "

    " your incompetence in running your own business "

    There's a few examples, but I don't want to get into a flame war, so, I'll be quiet now!
    I am well known for my tact and diplomacy

    So I wil kick in here and say i agree with the statements.

    15 is WAY too young to be running a professional business immaterial of how mature that person is, lack of legal accountability the the major concern along with time constraints on education.

    No 15 year old can match experience of age, that doesn't mean they do not have the right ideas or indeed could make it work, the problem is that most 15 year old business owners will give up ( sad fact of life) leaving a trail of trouble behind them. See how often you see a "business" for sale here that consists of a reseller account, a domain name and a template!! cause he has went back to school.


    I see often on this forum, young "business people" trying to do things on the cheap or for free, that in itself is a level of incompetence in that there is not sufficient funding to ensure stability, I wonder how many 15 year old have business that are properly insured angainst public liability and professional liability ( 0) would be a good guess. So there is another point to query incompetence.
    If you called out a plumber and he flooded your house, then informed you he was not insured would the plumber be incompetent?

    Sorry but you will never convince me that a minor running a hosting business is good for the customers.
    Nil illegitimi carborundum
    I'm getting old and don't do drugs. I get the same effect just standing up fast.

  22. #97
    Some of you really need to talk to a lawyer, and I expect that you shoud also see one if you know one that is a family friend, they can usually refer you to someone and most lawyers would have trouble trying to charge a 15 year old at least at first, I will see if i can talk to you via instant message soon
    Last edited by Z1 hosting; 01-19-2005 at 02:23 PM.

  23. #98
    this is your playing and learning age, so i will recommend you not to open business at this age.

    Just a suggestion.

  24. #99
    why not though? it might even be considered play for him, trying to bring in customers in

  25. #100
    Join Date
    May 2003
    Location
    New Hampshire
    Posts
    226

    my defense

    Originally posted by will7
    SydneyJen, to me, you seem to be a very arrogant person. You are going around flaming people, telling them that they cannot run a business, but don't tell them how to improve their skills.

    >>>>>>>>>>I am not flaming him; and there is not enough space on this forum to tell him how to improve his skills.



    Oh, and what is it that gives you the right to go around saying he's too young to run a business (when if he just said, support during x to y hours, it'd be fine)? Do you run your own business? Is it a multi-billion dollar company?


    >>>>>What gives me the right to say he is too young to run his own business? It is the truth that is what gives me the right. Yes, I run my own business and no it is not a multi-billion dollar company, does that matter? If I did run a multi-million dollar company would that then give me the right to say he is too young to run his own business? BTW - I do not think he is too young to run his own business; I think he is too young to run a hosting business as he has demonstrated by the nature of the questions he has asked here.


    I'm not trying to flame you, but I just want to know. You could say it in a much nicer and improved way:


    >>>>>If you're looking for politenss rather than advice, then seek advice from a Christian forum.


    "At this time, I do not think you are suitable for running a business. But improving on this, this and this and doing this might help etc"

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