I have a money making idea

[Light Reality]

Ok. I'm a student and would like to make some money, for a car or whatever.

So, my idea is... near my halls of residency (I think there's about 300 students)
there is a long road of really nice houses on the way to uni.

I thought about posting leaflets in these housing offering a variety of services from cleaning to dog walking to ... other things which I need to think up.

And for staff I would recruit students in these halls. So essentially I would be running an agency LOL! But then I'd have to figure money handling...

What services should I offer these rich people ???? Lucrative ones.
Via flyers and leaflets.

[aelle]

Tutoring for their kids
Computer help

Use your specialized skills (or those of your friends), that's what people are ready to pay for!

[SnerpGoodWord]

It certainly could work. Typically the response rate to flyers isn't super high though, so you might need to target more than one row of houses.

The major difficulty I see is that if you collect the money and pay the students, you're an employer. That means W2s, unemployment taxes, and a bunch of other headaches. You would want to consult a lawyer in your state to find out what you have to do.

You also need to think about liability. If one of the workers does something bad, you're potentially on the hook. So you probably need insurance for that.

[SnerpGoodWord]

Originally Posted by aelle

Tutoring for their kids

From a liability perspective I would probably stay far far away from their kids.

[Light Reality]

Yeah I just told my dad and he told me about the taxes and liability issues... alas.. it doesn't seem the best plan.

Onwards and upwards then.

[SnerpGoodWord]

The potential solution to those problems is to be a middle man that takes a one time fee - something akin to Craigslist. That way, you're basically doing the same thing you would have done (flyering and matching the responses to workers) but avoid all of the employer issues and some of the liability.

[Light Reality]

Originally Posted by SnerpGoodWord

The potential solution to those problems is to be a middle man that takes a one time fee - something akin to Craigslist. That way, you're basically doing the same thing you would have done (flyering and matching the responses to workers) but avoid all of the employer issues and some of the liability.

I should take this into consideration, plus your posts are on 111 which is relative to me.. but I can't make sense of it right now :S

[Vagabond Bobby]

You can always sub-contract work. Many people make a lot of money from being contractors. They receive work at $30 an hour, pay someone $17 an hour to do the work.

Essentially, just connecting people with jobs they wouldn't have had in the first place.

You would need to define these people as independent contractors instead of employees. This allows you to give 1099-MISCs to them. You must make sure they are independent contracts vs employees though. Check out this IRS article for more information. Independent Contractor (Self-Employed) or Employee?

There a whole lot more to it as well in terms of taxes and other things you would need to talk about with a lawyer or accountant or research yourself.