working for yourself

[Boyscout352]

PROS
-You call the shots, and run things the way you want it to run.
-You set your own hours.
-You can expense things you buy, make your own tax deductions.
-Make contacts.
-GST/HST


Cons
-No paid holidays/vacation/sick.
-No work, or no business, no money.
-Unlimited liability if you are a sole propriotership.
-Corporate taxes if you incorporate yourself.
-Type of business you want to go into.

 

[ham2004]

you forgot -

divorce .. most common amongest the self employed..

 

[500miles]

Me .. I would buy a coin laundry.. ( i did ), best investment return on the dollar, and very profitable.

At the start, did you have a day job? If not, then who did you hire to carry all those coins for you? It had to be a very trustwrothy person considering how easily he could just grab a handful here and there.

Nevermind, I see that you answered the question in subsequent posts.

 

[ham2004]

I still have them, my daugthers have both run them during the summers while in school. It is profitable, but you have to be smart about it.. and always bank the days take.. otherwise, you get into trouble really fast..

 

[bishop]

how hard is it to open an MP?

seems like we got a few fellows with a bit of savings not content with earning 3% interest rates. I am interested, I got a few bucks to invest.