Income Tool Time

Many browser tool bars are free, Windows updates are free, many free downloads are free. If so many things were full of viruses, then we could not use peer to peer, Yahoo Mail, Windows Updates, Google Search, various home pages. Maybe things were worse before, but many browser tool bars have pop-up blockers, anti-spy, etc. Even some of the free anti-virus programs detect viruses that ones we have to pay for don’t. Sure there are evil people who are up to no good. But, not everything for free contains a virus. Darn it!

your right, and the only thing that you can do is try to educate the people and tell them whats up.

I have been doing audio equipment design/repair/build work for about 10 years as a hobby, and recently have been getting more work through acquaintanceship. I was thinking to start a simple LLC to isolate myself from any possible complications with the work I do for people outside myself and close connections. I have many electronics tools and measuring equipment that I really only use for this work and I was wondering how it works for a new LLC to purchase this equipment from me. The LLC would have some, but little, profit as a lot of the work is just for the enjoyment of the work, and the LLC is more meant as an insurance. (ie if someone misused equipment and it caused damage etc leading to suit, I don’t want to lose my shirt, but a soldering iron and oscilliscope would be OK). I also feel it appropriate to account for what little income it generates in a more formal manner than just adding it as other income on my taxes.

Also I occasionally do Mathematical/Software consulting work and was wondering if I can include that work in the LLC as well, or if it would need to be a separate entity because the nature of that business is different?

I have some books in the mail regarding starting and operating an LLC, but before I initiate it I was hoping to get an idea of the above two concerns or if there are any complications I would need to watch out for in the given scenarios.

Thanks.
I do not have any kind of insurance. This is not my full time job, which is an analytically consultant for a large corp. Basically it started strictly as a hobby 10 years ago collecting and refurbishing vintage equipment. It has grown to the point where I occasionally buy, sell, and bill for the work, and also the nature of the electronics are considered by some to be dangerous. IE vacuum tubes, high voltages, etc. Mostly musical amplifiers, hifi, and antique speaker refurbishing. Occasionally vintage computing equipment. Things that could be dangerous or expensive if a moron did something stupid. Not that my clients are morons, but I can’t speak for everyone that comes into contact with gear I work on or sell, or if they left it on when they went on vacation etc. Also since I only use tools like an oscilloscope (for example) for this work, it would be nice to write those tools (which can be $$$) off as part of the business since I claim the income from any sales. General

Yes, your LLC can acquire your tools. Simplest way is for you to contribute them to the LLC as a capital contribution. To solidify your liability-firewall objective, execute whatever documentation is necessary to ensure that the LLC is recognized under appropriate law as the legal owner of the assets. An attorney practicing in your particular state would be the best source for determining the requisite documentation.

I’ve never encountered any state LLC statutes which mandated that an LLC can only conduct a single line of business or activity. Just to be sure, though, go to the website for your state’s Secretary of State and peruse the LLC FAQs you’ll surely find there. I’d be surprised, though, if any state had such a single-purpose kind of restriction in place. (Note that this doesn’t consider such restrictions as implemented by certain licensing authorities, such as the restrictions that law firms can (generally) only practice law, etc. It doesn’t sound from your post that this would be relevant in your case.)

Beyond that, though, many multi-business organizations do indeed wrap separate LLCs around their individual activities, for the purpose of insulating each set of assets from potential claims and liabilities of the other activities. With each separate LLC giving rise to a fresh set of costs (annual state fees, etc.), whether or not you’d wanna go this multi-LLC route depends on the nature of your two different activities, the likelihood of legal claims against either one, and the aggregate value of the assets employed in each activity.

All that gobbledygook aside, I doubt that a consulting activity would call for a second LLC.

As a side note, kudos for thinking through the "what might go wrong" scenarios and anticipating steps you might take to cut ’em off at the pass. And I’ll reiterate the advice for a brief pow-wow with an attorney. Liabilities and legal claims are generally critters dealt with at state law level, and so an attorney familiar with such matters in your state will have the best advice on what kinds of firewalls work and which don’t in your particular state and circumstance set.

Please don’t post babysit, mow lawns, poop picker, pet/plant sit, pick up mail or any of the commoon jobs. I heard from this one lady that people will pay kids to read books and review them so that could be interesting, and i also heard about this thing were a company gives you stuff to pass out to your friends and they pay you! It would be great if you could check on these two things and other ideas are welcomed too. I live in VA, around Fairfax.

Here is a short list of jobs which you can create to generate income:

1. Learn calligraphy so that you can provide handwritten invitations and thank you notes to prospective wedding parties, birthday celebrations, etc. Seek out clients through wedding planners at nearby churches and temples. A starter calligraphy kit usually runs around $20 and anyone can easily pick up this skill. The going rate is usually $1 per hand addressed item.

2. Become a "poser" who assists wedding photographers in setting and arranging various individuals in group and single photographic positions. "Posers" carry around a sketch book of various sitting and standing poses which consists of onion skin overlays of various wedding pictures bound in albums. Again, contact local wedding photographers and wedding planners, accordingly. The hourly pay is around $10-$12 per hour and you are often invited to attend all dining activities.

3. Seek from your neighbors a gardner position which involves planting, weed removal, plant/tree trimming, light brush clearance. You will be using the neighbor’s equipment and tools. Again, do not represent yourself as a lawn mower since there are any number of safety issues involved. A door-to-door solicitation of surrounding neighbors is required and you can charge between $6 to $9 per hour.

4. Offer policing/removal or clearance of trash services to surrounding neighbors which involve trash pickup within nearby residential area. Limit the extent of pickup to small areas and be aware that there are no hazardous terrain or elements involved in this process. Again, a door-to-door solicitation of neighbors is in order. You can charge between $6.75 to $7.50 per hour.

5. Acquire a set of window cleaning tools [a bucket, liquid window cleaner, sponge, squeegee, handle with an extension and a small step ladder] and solicit local businesses for your window cleaning services. However, be careful to limit the height of the window cleaning to no higher than one story. Charge $1 per window panel.

6. Become a proxy/stand-in for neighbors to allow delivery of goods and packages to your home/apartment. Acquire the authority to sign any receipt of incoming packages as an accepting neighbor. Charge $1 per each package handled by you.

7. Consider becoming a restaurant-cafe customer liaison by using your cell phone at restaurants-cafes to coordinate with the hostess to keep track of waiting customers. Whenever there’s a very long period of time to activate a waiting list, you want to offer the restaurant your services so that customers do not have to stand around for any lengthy period of time. And when their name/assigned number comes up; you can call the upcoming customer’s cell phone to tell them that they can return to the restaurant and be served. The call back fee is usually around $0.50 cents on a per head basis. For example, a couple would be charged $1.00 while children under 6 would not be charged. Placement of a plaque which outlines your fee schedule near the hostess station is sufficient to garner attention of prospective customers who will value your services since they can do other activities outside of the restaurant — often beyond the range of any inhouse paging system. You realize that everyone has a cellphone and why not take advantage of the connectivity to make the diner’s experience worthwhile. The restaurant will also appreciate the added service you are providing as a customer liaison.

8. Why not become a paid feeder servicing the disabled at nearby nursing, convalescent, assisted living/care centers and hospitals. It involves feeding food to patients who are unable to feed themselves. The starting rate is $8.00 per hour. The only downside is that one has to take precautions to wash one’s hands after each feeding. A posting of your services [by a business card or flyer] on a reviewable bulletin board would be enough to generate customers. The paid feeder position is one of the fastest growing occupation at this time.

Good luck!