Mark Hendrickson on Techcrunch’s Will the Credit Crunch Inflate the Internet Bubble? notes a survey of over 800 mortgage and real estate professionals (presumably in danger of, or recently having lost their jobs in the subprime blow up and credit crunch), found that 56% intend to start a business and 14% had already started.
While the [...]
Self-employment: the new “semi-retirement”?
In an ominously titled A kinder, gentler treadmill the Financial Times looks at the large wave of baby boomers nearning retirement age, noting that in many cases “retirement” will not mean a leisure suits, shuffleboard and travel but in actuality to keep on working in some form of self-employment.
“For Baby Boomers, self-employment may serve as [...]
Deductions that failed the smell test: personal race cars don’t cut it
Well it wasn’t quite a personal race car, but this Globe and Mail article (which declares “self-employment is one of the last great tax shelters”) examines the case of Keven Neilson, who tried to deduct money spent on sponsoring his own racecar.
The issues in a nutshell:
1. Were the costs personal or business in nature?
2. If [...]
The Four Horsemen part 2: Real Estate Flipping
Back in the summer I started a four part series The Four Horsemen of the BYOB Apocalypse, where “BYOB” means “Be Your Own Boss”. Briefly, the four horseman of self-employment doom are:
Daytrading
Real Estate Flipping
Forex
Blogging
Today is part II of the series, “Real Estate Flipping” and why, to paraphrase AC/DC “It’s harder than it looks…It’s a long [...]
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The four horsemen of the BYOB Apocalypse
This will be a four part series on the four most overhyped, most pernicious pipedreams sold to the public in the guise of a Be Your Own Boss (BYOB) dream, where I examine the many pitfalls these endevours entail and why they are not for everyone and unless you have specialized knowledge in the field, [...]
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