Chris Evan, Eli Weakley, I totally get that point. Employee = slave indeed.
I am currently working under an employment contract. It's an environment here where all the large corporations seem to hire everyone by contract. The problem however is that it is still an employer/employee relationship.
I am working towards a new contract where I go in as a contractor and not an employee. Like a consultant, but with tools instead of a pen.
Having said that to give a bit of a description of where I am at, and where I want to go, my questions have to do with the actual drafting of the contract to avoid any pitfalls with respect to Canada Revenue Agency. Most of the people I expect to be dealing with on this are going to be Human Resource/Administrative clerks. The actual men and women I work around wouldn't give a shit about any of this. They are happy as slaves.
Where might I find an example of a contract for such an undertaking? I would like to keep within the LLC/Trust framework as well and not inadvertently screw that up either.
Pete Daoust, You have mentioned bits and pieces of how you've set up your business. Could you lay out an example of how you would have someone work for you as a contractor perhaps?
If they are normally accounting to CRA where they have paid employees, and they submit the withholdings to the CRA, what is the required by an HR admin clerk to be provided by ME, to switch that arrangement over to a flat rate contract then? Rework the contract, but with what deleted?
Or, if I quit here and found something else, I am sure they would default to wanting me to be an employee, what would I have to provide them to keep it as a contractor?
I know just reading this back to myself, that these seem to be really dumb questions, but I've never really had much time in offices.
SGMI only hires contractors now! Someone must have come into that shop and educated these guys on the differences because they all told the President that they didn't want to be slaves. :-/
Adrian, I do not know how the CRA works, but I do know that you are better off privately contracting even if that means that you lose that job and service private folks. I think you are an electrician, yes? Do you have everything that the jurisdiction requires your person to have to provide service?
If so, starting out is as simple as telling everyone you know, joining a business networking group and taking EVERY job you can that offers value. Within a very short time, you will have ammassed enough work to be happy....hint hint...it will be MUCH less than slaving for someone else.
Yes Chris, I started as a regular electrician, and I've been kind of specializing over the last decade to include power lineman, and transmission stations.
Before TT4L I had a 2.5 year plan to be debt free in the traditional sense and start a small town electrical business to do just that. Now, I'm here and learning how to change up that plan, and how the traditional thinking is wrong.
From where I'm sitting looking at the "big picture" it's quite overwhelming. So I am trying to break things down into smaller pieces and work on them one at a time. Just like any large construction project I've been on.
accept payment in silver chicken nugget tenders, and put some guy hard to work at fabricating them. i can get like 2 ounces of silver for ~$50 from Suns of Liberty Mint and you accept those, and find some distributor who will accept those for wire and crimp lugs, maybe make silver 2/0 crimp lugs for speaker wiring...
Adrian, have you already set up an LLC to operate on behalf of your PERSON? Operate in commerce with an LLC. Plan on controlling the PERSON (property) instead of functioning by BEING it.
If you are setting up as a contractor, this corporation would also be under contract by a HOLDING LLC, which HOLDS ASSETS. And the PROPERTY of the contracting corp is held in PRIVATE TRUST (as in the property, monetary value).
Beverly, the new LLC package has just arrived, and I will be getting into that when I return home.
In your second post, are you saying that there should be a second LLC just as a holding company then? One for commerce, and that is held by the second (holding company). The trust is also held by that holding company, and all of the assets of my person are held in the trust.
This makes some sense to me. Is it correct though :/
Also, I think that I understand the concept of getting the trust to purchase the house and hold it in the trust, but where might I find more information on the logistics of actually getting that done? I'm thinking that I might be stuck on how to get that done.
Full corp. = person, trust, & llc. you give the property to the corp, to finance it at whatever you wish it's value to be, the corp liens the property and holds the lein in trust. the llc operates as trustee to the holding corporation.
Today is the big day.
I feel that it is time for me to walk away from this slave job. I'm at 75 dollars an hour, which I always thought was really good for a dumb electrician like me. But, the more I earn in this system, the more they steal.
Besides, this whole slave job thing is really cutting into my study time.
So, it's time.
I quit.
your company sends, submits a bill for services. you are an employee of the company, they pay the company. whatever the arrangement is between you and the company in exchange for your time is your own business. you do not have to accept or draw any 'pay', all that can simply be held by the company. anything you need is a company purchase becoming a company asset. no one can tell you what you can do with company assets/property.
what I do is simply have the company aquire and pay me in silver dollars. for you at your rate, thats ~4 an hour. you can do up to 12 and still stay below the minimum thresh hold for having to be required to FILE tax forms. figuring 4.2 weeks per month, 168 hours, and in Mass one can earn up to 600 per month without any reporting, thats 3 dollars an hour for ~ 500$ your below the thresh hold. ALTERNATIVELY you can set the company up a computer to mine, buy, trade, in digital currency, which ofcourse you technically have full control over, such as bitcoin and i can exchange bitcoin for things, like silver if you wanted.
the company that i agreed to work for when i tendered an application, I filled it out and changed the" employee" definition to" worker" by crossing out the word employee everywhere it was printed, I didnt turn in the form W-4 to contract with the IRS and gave a" notice of no contract intended" which also notified them of the title26 rules that a SS# is not required to work, also on signing the agreement to company rules i changed all the words employee in hand writing as well and all others that may have created joinder with the term employee, they never said a thing about it...I also gave them certified copies of my recorded resignation documents..no problems so far...