I knew it would have to happen someday.
I’ve got a new big job (the biggest I have done yet to date) and really want to do all things well. My organizational doings have been weak, too.
So I have now begun to operate as an S Corporation.
With new insurance policies, new accountant, new accounts, new payroll service, new headaches…no more DIY accounting
I have been spending a large part of today setting up the new company books in QB Pro, too. Previous to this, I really never used the power of the program because it was too initmidating. It still is but I’m starting to grow into it with the help of my book-keeper. But i really think it would take a semester of school and setting up a couple of sample companies to become fluent with it.
BTW, the job is restoring a Cape structure that is 203 years old. Locally, it is called the Cannonball house because some grapeshot from a cannon went into it during the war of 18112 when a naval battle was fought just offshore in the bay.
Excellence is its own reward!
Replies
Piffin-- congrats on the jump to the corporate world. Are you going to have a fancy title and get the big executive salary now?
does thie mean you're a CEO and we can't trust anything you say?
have u given youself a really good golden parachute?
btw good luck
bobl Volo, non valeo
Edited 10/5/2003 7:29:52 PM ET by bobl
Ya, I guess that I've got a new name now too.
They call me president when I sign papers.
Excellence is its own reward!
piff... congrats...
as to the signing thing... get in the habit of signing your name and ALWAYS adding "president" if it isn't stated in the signature block..
just one more thing the legal eagles have told me about doing your best to preserve the corporate veilMike Smith Rhode Island : Design / Build / Repair / Restore
Couple of questions...if they're too personal, just ignore me again. How big $ is the job? At what level of $ would you go to S Corp if you could do it over again?
Do it right, or do it twice.
I posted in another time and thread that I had once figured it to be about a 250K annual threshold for me to make it worth the paper shuffle. I've been ranging on either side of that figure.
This one job will double it.
LOL, I don't need to worry about confidentiality on this one because other people knew I had the job and for how much before I did, tho I had a prety good idea.
Mike, I'd heard that before. I have actually learned more about these things here and at JLC than from my lawyer.
.
Excellence is its own reward!
does thie mean you're a CEO
Yeah but he's probably tea boy and sweeper upper too!!!!
i know that feeling
aleks
Congrats Piff and BTW the war of 18112 hasn't happened yet.
Glad I'm gonna miss that one.... LOL
Who ever invented work didn't know how to fish....
double tap finger on that key.
Excellence is its own reward!
keep up with the details.
Was planning on going that route before this current job .... biggest for me yet so far too ... but the job planning took priority ....
still going to do it ... just gotta wait till things get into a groove. Probably after drywall ... then I'm more into my one element.
details .... I need details...
Jeff
Buck Construction Pittsburgh,PA
Fine Carpentery.....While U Waite
Jeff
You want to check in go with an LLC, limited liability corp. Often much easier to setup and less hassle.
That's what I've settled on.
After many a conversation with local contractors ... my accountant ... my wife's "financial consultant" boss ... and a buddies Dad ... the lawyer!
JeffBuck Construction Pittsburgh,PA
Fine Carpentery.....While U Waite
Better add another P to that name PPIFFIN... President Piffin...
Congrats on the big project
as to the DIY accounting..
It's looked at the same way, "we" would look at DIY room addition lol
least so says my old man the CPA.
oh, and does this mean that you have to change from a lowly hourly worker making 12.50 an hour to high price buisness exec with salary, options, company driver, and fancy other perks? will taunton let you ride in the black helo now?
salary is the same it was under the DBA but the corporate structure might help out with percs.
The biggest boon for me is that this will discipline me in paperwork because of the deadlines involved, and I will be running my salary through the payroll service.
Our Gov King once said in an interview that the wisest decision he ever made in the business world was to put himself and his employees in a payroll service. IOW, my time is better spent on other things - like yakking with y'all, than in getting dollar size headaches..
Excellence is its own reward!
Does this mean you'll have to shave that beard off?
I wish you well and hope you don't have to make too many executive decisions President Piffin.
I still like being a little company with my boys working with me, taking one job at a time.
You will do well at whatever you do Piffin, and if you need a reference have them call me."Rather be a hammer than a nail"
Bob
I believe that one reason I have come to be where I am is that I've never been afraid to make a decision that needs doing. Take the bull by the balls and steer him where he needs to go, whether he smells the cow yet or not.
And yes, I run a mean broom handle too.
That is actually a part I like. Sweeping up in the early AM lets me get my head on and plan out the day. Sweeping while guys are working keeps a humble aura, keeps me out of their way, and lets me "notice things" without appearing to be inspecting or looking over their shoulders to make them nervous.
And since I get a lot of calls to interupt whatever I am doing, I don't want to be in the middle of impoortant work. I want a man to be focused on his task at hand. My work gets pretty global at times..
Excellence is its own reward!
Piffin
And yes, I run a mean broom handle too. That is actually a part I like. Sweeping up in the early AM lets me get my head on and plan out the day
Thats what I always say about mowing or raking, not exactly thinking work, allows you to concentrate on other things.
Glad your a pres now, dont let it go to your head.
Doug
prez umm
goin to have any interns?bobl Volo, non valeo
in turn.
Excellence is its own reward!
Hey pif,
I got a old fish tie I could send ya, it will really impress the folks when you attend yer corp meetings..:>)
Darkworksite4: Subterráneo en la república de gente de Calif
Don't forget to have a sexual advisor on the board of directors.
He/she will be the one you go to if you want their ****ing opinion!If at first you don't succeed...try again! After that quit! No sense being a dam fool about it! W.C.Fields