Self-Employment Advice?

[Stella]

I need to set myself up for being a self-employed consultant, as I am starting to get work relating to fishy stuff. Also my book is getting closer to being printed and I am self-publishing.

I know virtually NOTHING about this!

I think I should be talking to an accountant (apparently they can set you up for a small fee). Though I don't know any locally.

Can anyone offer some advice, accountants or suggest sites to read up?

[bdspider]

Does anywhere offer free business mentoring or courses in your area? I'm pretty sure there's a program that allows you to get free mentoring but I dunno if there's criteria.

[spoon]

understanding the tax side of things regardless of having a accountant or notwill help. you may not need to set up as buseness depending on how much money you are going to earn . keeping accurate books and all related reciepts organised is a big help there are so many small things you can claim a tax credit on and they all add up and may help pay your acc bill at the end of the financial year

[HaNs]

Go find a good accountant, keep a record of income and expenses. Put money aside for income taxes.

Look at GST registering

http://www.whatstax.govt.nz/earning-mon ... -yourself/

[darkfur]

find out how much ACC are going to sting you for (it's quite expensive!)

[HaNs]

Cheaper to get private insurance than pay acc :roll:

[fishybiz]

Check out:

http://www.nzte.govt.nz/develop-knowled ... rtise.aspx

http://www.homebizbuzz.co.nz/

ACC relates to how much you earn and your occupation so not necessarily that expensive and you won't be paying it until after your first year in business from memory.

Registering for GST is a good idea if you are going to be spending quite a bit on startup as you will be able to claim the GST back.

Check out the IRD website too.

[darkfur]

if you are currently receiving a benefit of any sort you may be elegible for the WINZ "be your own boss" scheme. Training course, grant of $5000 for costs and $1000/month for 6 months, plus you can keep what you earn above that without losing the $1000/month. Nice.

[phoenix44]

if you are currently receiving a benefit of any sort you may be elegible for the WINZ "be your own boss" scheme. Training course, grant of $5000 for costs and $1000/month for 6 months, plus you can keep what you earn above that without losing the $1000/month. Nice.

They do that?

I can't decide if its a good thing or not. Im leaning towards not. Gah! too many wannabe business owners out there.

Well Stella; if I were you I would get in touch with an Accountant and start from there. The NZ Trade and Enterprise website should also be of some use, and they can even send you a manual or something similar. I have one I used in an old assignment.

You don't have to use the big name accountants, as they normally get associates to do work any how and charge about $60-$120 per hour; more when audits for IRD are needed.

A financial planner and budgeter would be of use as well - I would have offered assistance to that regards, but my current contract forbids it.