just got back from HR Block. interesting experience to say the least. seeing as though I didn't really make much income until Nov/Dec 2011, I won't truly have to claim income until April 2012. i;m wi/ Amazon so i didn't get paid for November's earnings until January 2012.
Taxes are going to eat my soul in 2012
65
just got back from HR Block. interesting experience to say the least.
seeing as though I didn't really make much income until Nov/Dec 2011, I won't truly have to claim income until April 2012. i;m wi/ Amazon so i didn't get paid for November's earnings until January 2012.
that said, I was pretty surprised to find out likely how much I'll end up paying.
i was quoted around 40%. since I am a small business owner, not only does my "company" get taxed, but when technically i "pay the employee" - ie myself.
even if i keep the $$ within the business and don't transfer it over to my personal account.
that's some pretty hefty crap when I look at in numbers. If I make $1000, $400 of that belongs to the IRS. If make $100,000, i really only get $60,000.
i'm thinking i should get an LLC. taxes will eat my soul if i don't officially segregate the two
seeing as though I didn't really make much income until Nov/Dec 2011, I won't truly have to claim income until April 2012. i;m wi/ Amazon so i didn't get paid for November's earnings until January 2012.
that said, I was pretty surprised to find out likely how much I'll end up paying.
i was quoted around 40%. since I am a small business owner, not only does my "company" get taxed, but when technically i "pay the employee" - ie myself.
even if i keep the $$ within the business and don't transfer it over to my personal account.
that's some pretty hefty crap when I look at in numbers. If I make $1000, $400 of that belongs to the IRS. If make $100,000, i really only get $60,000.
i'm thinking i should get an LLC. taxes will eat my soul if i don't officially segregate the two
- Madush Banned
- [1] reply
- Trapped
- redstanford
- Rich Struck
- [2] replies
- Cataclysm1987
- Curtis2011
- GMD Banned
- [ 1 ] Thanks
- [1] reply
- redstanford
- [1] reply
- redstanford
- mazbs Banned
- Nathan Isaac
- Tsnyder
- [ 3 ] Thanks
- [1] reply
- GMD Banned
- [ 1 ] Thanks
- [1] reply
- Green Moon
- The Copy Warriors
- redstanford
- [1] reply
- Green Moon
- [ 2 ] Thanks
- lapeoro
- Wide
- [1] reply
- GarrieWilson
- Halcyon
- redstanford
- MarketingChad
- [1] reply
- redstanford
- kindsvater
- milla04
- [1] reply
- capitalalchemy
- Cary Bergeron
- PPC-Coach
- atrbiz
- [1] reply
- cashp0wer
- [1] reply
- Rod Cortez
- nicholasb
- Troy_Phillips
- Jeff Hollyhand
- Terry Crim
- [ 1 ] Thanks
- [2] replies
- Green Moon
- Istvan Horvath
- [ 1 ] Thanks
- [1] reply
- gasman
- jwmann2
- [1] reply
- IMMer1975
- Lori Kelly
- Aeristilheartly
- [1] reply
- fluffythewondercat
- [1] reply
- thechoice1
- TiffanyVee
- econnors
- TMercT
- FNHPWR11
- [ 1 ] Thanks
Next Topics on Trending Feed
-
65