today the term bdcc really became real to me.

[juniorc82]

Today I was paying my quarterly taxes. Now I have been a bit busier than last year and I have tucked some money away and I thought I was really doing pretty good. Well without getting too specific on my numot bers , I almost shit my self when I was told what my payment would be( I didnt have any penalties and Im not late) . Now before I quit my full time job doing collections and repo I made about 40k a year. I cleaned pt for 4years before leaving and have been cleaning ft for about 3 years. I dont really see how people can survive in this business and make great money unless you do restoration. The only differance is when the smoke clears after expenses Im paying a hell of alot more in taxes , work 3 times as hard , and really am not making that much more after expense and taxes. Its sad when buying carpet gizmos and gadgets is the only way to treat myself for my hard work because its a write off. When I think back when I cleaned part time and all my cleaning money was gravy that was some of the best times I had. Well Im too much of a grouch to hold down a normal job so I guess I better get use to it.The scariest partis that I have went from being a proud demacrat to a borderline repub sympathizer

 

[Brian R]

Get a better CPA

 

[floorguy]

Get a better CPA

no chit



unless you are making over 6 figures a year....NO WAY IN HELL you should have to pay estimated for 1, and for 2, should only really be paying taxes that any w-2 collector does...do you w-2 yourself??

 

[Bob Foster]

The scariest partis that I have went from being a proud demacrat to a borderline repub sympathizer

Karma's a bitch isn't it?

 

[Mikey P]

Well spit it out, how much are you taking home?

Don't start a thread like this if you wont state numbers

 

[sam miller]

Cut mine by doing a llc last year able to kick more to IRA's and stuff. Plus I bought a new Van and leased a car for my wife those

didnt hurt either.

3 kids 1 in HS 2 in college also helps with write offs here.

 

[Steve in Omaha]

incorporate and take a goodly amount of your compensation as dividend income, which is taxed at a much much lower rate. Not to mention no contributions to the ponzi scheme known as Social Security.

Speaking of SS, anybody else find the irony in the fact that SS checks are being held hostage in the debt limit talks come August 3rd? Seems to me the politicians have always always always claimed SS is solvent through 2050 or some date they pulled out of their a$$. It's separate money in a "lock box"...right?????????

 

[juniorc82]

That self eployment tax is the killer. If one person makes 40k workin for someone and a contractor or small business owner makes 40k on their own the business owner has to pay way more in taxes. I guess I am sounding like a cry baby,Im just tryin to make sense of how I was going to hit it big in the cleaning business and ride off into the sunset with my millions I am gonna need to buy a house or somthin to get some more write offs,

 

[Hoody]

I've learned by watching others that if you have good/great credit going into this biz you're already a step up. Coming into this business paying cash for everything trying to be debt free is a slow road traveled. Being able to finance and write off interest.

I've heard you're even able to write off clothes if you wear them as a uniform for work, is this true ?

My problem is I have really no clue whats able to be written off or anything accounting related despite the classes I took in college.

 

[joe harper]

That self eployment tax is the killer. If one person makes 40k workin for someone and a contractor or small business owner makes 40k on their own the business owner has to pay way more in taxes. I guess I am sounding like a cry baby,Im just tryin to make sense of how I was going to hit it big in the cleaning business and ride off into the sunset with my millions I am gonna need to buy a house or somthin to get some more write offs,

"HINT"..."HINT"... :idea:

If you are DiEiNG of sTaRvaTiOn... :?:

"MOVE TO WHERE THE FOOD IS... :!: :!: :!: :!: :!: :!: :!: :!: "

http://www.youtube.com/watch?v=vN7ehccs ... re=related

 

[bob vawter]

Damn Dink...
i 'splained all that to ya........ shiteatinggrin

one day you'll look back an' say......

what a genious ol' man!

 

[J Scott W]

My CPA once told me that our business goals should be to never make a profit, but to break even a larger scale each year.

 

[bob vawter]

My CPA once told me that our business goals should be to never make a profit, but to break even a larger scale each year.

dink..ya hear that?

 

[XTREME1]

Get a better CPA

Brian uses HR Block with coupons shiteatinggrin

 

[Warren Wallace]

If your married try getting a divorce, it's another way to lose everything

 

[XTREME1]

I'd get alimony