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I moved here in 2021 to do a Masters degree so will really appreciate it if someone can guide me here with that in mind.
I am not longer a student. I have a Graduate Visa now and can legally start a business.
I currently have a job and I plan to work on these business on the side.
# Number 1
I want to start a web design and development business where I give some time each week. I already have profiles on freelancing websites that are established and I get some work from them every few weeks when I try to find work. Not much just a few hundred dollars.
# Number 2
I have a blog website where I display adsense ads and maybe makes $200 dollars in a year with ads. Plus I have developed WordPress plugin which I sell from the same website. They make around $50-100 each month.
I know this is not much but I want to start spending time more time on both each week. Especially the website and WordPress plugins as I know they have a lot of potential.
One of the reasons I want to setup the business is so I can reinvest all the money I make from these back to the them so in the end there are no profits and I don't have to pay tax if legally possible as I want to use the money to grow this in the start.
Lets say for example if I make $4000 dollars from both these in the next year I plan to reinvest that money on them such as hiring a writer to write articles for the blog or hiring a developer to work on the WordPress plugins. I want to be able to use money made from #Number 1 on to #Number 2 and vice versa preferably.
I don't want to be a sole trader as personal liability sounds really scary.
Any suggestion, advice and guidance will be very much appreciated.
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- 1 year ago
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