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Consulting after Retirement (fun with names)
10-08-2015, 03:18 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Sep 2013
Location: Ventura County
Posts: 1,433
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Consulting after Retirement (fun with names)
As I circle the drain ever closer to FIREday at the end of the year I've had a couple of requests to consult during my afterlife. If I do so I guess I'll need to come up with a name for my (1-man) laser sciences consulting corporation. My current favorites:
LOGOS
(sounds all serious/philosophical, until I reveal it stands for Lazy Old Guy Optical Services)
or even better:
Principle of Least Action
(Physicists will think it means I'm a serious Quantum Mechanic, but friends will realize it refers to my work ethic)
I could come up with lots more, but I've probably killed all potential business already.
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10-08-2015, 03:22 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Feb 2012
Location: Northern Ohio
Posts: 3,182
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If you are forming a Corp this doesn't apply, but if you are just consulting as a proprietorship, it's easier to just use your own name. Otherwise, you usually need to get a DBA and setup bank accounts using that, etc.
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10-08-2015, 03:32 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 4,366
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I consulted for an old boss just as a sole proprietor using my own name. That's the easiest way to go. You can get an EIN from the IRS and set up an Individual 401k, but that was pretty simple.
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10-08-2015, 05:01 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 4,872
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I did some optics consulting earlier this year and just did it under my own name as a sole proprietor. Forget the company names, just consult under your own name and it keeps the taxes simple.
__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”
Current AA: 75% Equity Funds / 15% Bonds / 5% Stable Value /2% Cash / 3% TIAA Traditional
Retired Mar 2014 at age 52, target WR: 0.0%,
Income from pension and rent
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10-08-2015, 05:32 PM
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#5
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
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If you do choose a DBA, it is not a good idea to have a flippant name.
Sent from my SM-G900V using Early Retirement Forum mobile app
__________________
I have outlived most of the people I don't like and I am working on the rest.
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10-08-2015, 05:34 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 4,872
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 Quote:
Originally Posted by stepford
If I do so I guess I'll need to come up with a name for my (1-man) laser sciences consulting corporation. My current favorites:
LOGOS
(sounds all serious/philosophical, until I reveal it stands for Lazy Old Guy Optical Services)
or even better:
Principle of Least Action
(Physicists will think it means I'm a serious Quantum Mechanic, but friends will realize it refers to my work ethic)
I could come up with lots more, but I've probably killed all potential business already.
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Diffraction Limited is taken.
__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”
Current AA: 75% Equity Funds / 15% Bonds / 5% Stable Value /2% Cash / 3% TIAA Traditional
Retired Mar 2014 at age 52, target WR: 0.0%,
Income from pension and rent
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10-08-2015, 06:54 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Dec 2014
Posts: 2,511
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forget the name... watch out for violation of employment contracts or using information/techniques from prior employment. Those previous "works for hire" might not be usable in consulting.
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10-08-2015, 07:00 PM
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#8
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Sep 2005
Location: Northern IL
Posts: 26,885
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OOPS
Optimal Optical Professional Services.
OCULAR
Optical Consulting Utilizing Ludicrously Ample Remuneration.
-ERD50
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10-08-2015, 09:42 PM
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#9
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Recycles dryer sheets
Join Date: Aug 2014
Location: Western Canada
Posts: 393
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Jesus found me when I retired. He suggested First Universal Church of Knowledge but it's ok to use the initials.
__________________
I'm not crazy. Honest, the judge had me tested.
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