POLITICS Fun Tax Data!

At least the insurance guy tells you at the beginning of the year what you owe him. Tax man makes it interesting, and if you miss, you owe extra

 

I love owning my own business. I'll complain a little bit, but I can't imagine having someone tell me what I will or won't do on a daily basis anymore. I may go deer hunt at 3 pm today, may not but it's nice knowing I can.

That being said, it's a daily headache and the myth that business owners are rich assholes trying to screw their employees really pisses me off.

 

I don't have any employees, I do buy materials, but I pay taxes on them so I'm under the impression I don't have to have my customers pay.

 

Get you a few employees and that will change quickly

 

Your last sentence is very valid. A guy that owns a small business is not rich. Or better yet, not wealthy. He might be well off, he might even be rich, but he isn't wealthy.

Same way that your dirt farming cousins might look at you making $45,000 a year as their 'rich cousin', and even be jealous. I envy those that have the gumption to run their own business. The idea that it is all on me to keep it going and not going belly up would keep me up at night, and life is too short for that.

 

But they do pay it, because I imagine if you buy a widget for $4 and pay $.40 in tax on it, you are going to charge them $4.40 for materials, right?

 

When'd you get divorced?

 

QB might be overkill then. An excel spreadsheet with a sheet for income, a sheet for expenses and a sheet for mileage. tally them up and the end of the year and make sure the match bank/credit card statements (keep separate checking/credit cards for this, and this only) and you should be fine for side business. CPA can prepare 1065, k-1 etc. Keep every receipt, throw it in a box, then spill some bourbon in that box after filing taxes.

in TN, that is correct regarding sales tax. Not sure about FL, but imagine it would be the same.

 

We have reached an agreement, from September to February, I am free. The other 6 months I am not.

 

If you're bidding it right.

 

Thank you sir, my wife is a wizard with spreadsheets, I'll talk to her about that. I really appreciate it

 

All that.
The extra time spent on all that is ridiculous. Instead of making more money we re spending extra time making sure the IRS gets their part.

Gave me a greater appreciation for those I've worked. Good experiences and bad.

 

The Joelton boys?

 

Yep

 

Last job we did on Knight rd,
me, your daddy, and one of those brothers was having a conversation (non job related) and the Michigan "property manager" (for lack of a better term) wanted to recorder our conversation and send it back to Detroit to his friends.
He said, "Funniest $h1t Ive ever heard."

 

They have a way with words.

He got pissed off at a dirty windshield in his excavator and just kicked the damn thing out heading off into a retention pond to work. "That was stupid, but it made me feel a hell of a lot better"

 

Ah, new client today.

"I want to go out, sale stuff, and make money. I don't have time for this tax shit."

 

that does sound glorious

 

It is for me. I could have charged him 25K and he'd said yes.

 

You should meet our painter. He's been audited twice, the last time he wrote them a check for the $22k he owed them and told them "as long as I've been [uck fay]ing ya'll I'm still in the black". He's an interesting guy.