Time To Start My Own Company

Had a visit with my Mortage Broker today. We received something in the mail from him asking us to give him a call for a free mortage review at our convenience so I thought rather than throw the opportunity away it would be a good idea to give him a call to see what's up. A lot has happened in the past 18 months and since we are halfway through our 3 year term and not a heckuva lot else to do in the month of January anyway , why not I thought.

Well the bad news is that if my wife and I went looking for a house right now we would have absolutely no chance. The good news is we have one already. You see with both of us working as waiters our T-4 statement of income for tax purposes is very low and we got on a special program just for waiters that was available back in 2007. Now with the credit crunch that program is no longer available so we would not have a chance to purchase anything today. Whew!! That was a close one!

The second thing he mentioned is we should 0pen up a company and start throwing our tip income into the company so we can start writing off stuff like transportation , clothing for work , etc. etc. I mean it makes sense since we are basically self employed anyway. Besides that when our mortage comes up for renewal the rate we will be eligible for will be a whole lot easier to get rather than just continue being waiters. Well we will be but , "self employed waiters."

So an appointment with an accountant he recommended is in the plans once I know my wife's schedule for next week. Meanwhile a talk with my employers once I incorporate a name will be in the works for both the wife and I.

Aside from all this with the tv appearances and new courses I hope to start this year and a possible e-book in the plans it might be time to start my own company anyway.

These are exciting times.....