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August 20, 2005

Another Venture?

My wife and I decided not to buy a house this year, which means that we're going to get killed in taxes (DINC!). So I'm trying to find was to legally mitigate that. Of course there's charitable donations, but unless you're making donations on the size of like 10% of your income it's not going to help.

I've always wanted to own my own business and eventually make it my full time job. So, I thought to myself why not start it early and gain some of the tax benefits this year. Obviously the first year and probably the second are money losers. This lose can be applied to our taxes and voila! I have more assets, a business to grow and less taxes.

As a plus, if I wanted to keep doing this as a so-called Hobbyist Business then I can (almost) never show a profit as long as I can prove that I'm trying to make a profit.

Now it all comes down to 1) filing the correct paperwork, 2) making sure that I keep track of business expenses and 3) coming up with some semi-viable business plan. Sounds easy to me. I bouth Nolo's Small Business Start-Up Kit and it seems to have fairly good advice. I now know a little more about tax law and what paperwork I need to file. Their section on what type of business to start was phenominal and made the book worth it right there.

More on this as it unfolds. Hey, maybe my business will be a blog on starting a business...hmm....

Posted by Guy at 8:25 AM | Permalink

August 17, 2005

No News is Bad News

It seems that my investment woes just keep on coming. I think I'm down almost 11% now! One thing I have learned though is that if a company isn't doing any press releases then their share price won't move. To sum up,

No News = No Movement (up, but maybe down) = Bad News

Posted by Guy at 7:03 PM | Permalink

August 10, 2005

WTF?

Huh? I thought this [smashmyphone.com] was a joke at first, but now it seems like some weird fetish thing.

Posted by Guy at 7:20 AM | Permalink

August 1, 2005

Know Your Markets

It's been about a week since I made my first trade. I invested in a VoIP company because I really believe that this technology will take off in the long run. However, I'm doing this experiment in the short run. Hmmm, seems like a conflict to me. Yep, I screwed up.

It seems that most VoIP companies have been hurting financially for the past couple of years. In fact, I started reading some blogs [voipnuke.com] and it seems that most VoIP investors feel like they made the biggest mistakes of their lives. There does seem to be a single saving grace that if ever sees the light of day will result in a MAJOR rally (thus signalling the exit strategy for those currently invested).

What I'm talking about is the possible buy-out of Skype by Google. Long shot? Sure. Possible? Sure. Probable? Unknown.

In retrospect I made my first trade without really knowing the current trend in the market to which I was investing. Sounds like lesson 1 newbie stuff to me.

Posted by Guy at 9:57 AM | Permalink