Sole trader, limited liability company or what?

[boomer]

That was my bill.

It's not circumstantial thanks.

I was advised by my accountant to save 50% of my earnings for the first 12 months of operating a Sole Trader business for that reason. I still came up short when the tax man rolled around.

I'd be keen to find out if things have changed since then, as I'd like to give it another crack.

i'd get a new accountant bro.. i save 40% of all incoming monies; for tax and gst.

End of year comes and i got a substantial refund on both.

[James Deuce]

i'd get a new accountant bro.. i save 40% of all incoming monies; for tax and gst.

End of year comes and i got a substantial refund on both.

10 years ago man. I can't be bothered trying again. PAYE, grey cardigans, and an early grave for me.

[boomer]

That was my bill.

It's not circumstantial thanks.

I was advised by my accountant to save 50% of my earnings for the first 12 months of operating a Sole Trader business for that reason. I still came up short when the tax man rolled around.

I'd be keen to find out if things have changed since then, as I'd like to give it another crack.

10 years ago man. I can't be bothered trying again. PAYE, grey cardigans, and an early grave for me.

im with u on an early grave, not so sure on the slippers tho...!

[James Deuce]

Dammit, I've lost my reading glasses AND my pipe.

[crazyhorse]

You don't get rich working for someone else - and yes, Liability insurance is a must.

[Patch]

Reading some of the bullshit advice given - its no wonder some small businesses fail

That said there are a couple posts with very good advice but they are the minority.