View Full Version : No wonder LCO's deal in cash
05-10-2006, 11:10 AM
Just spent all morning dealing with taxes, payroll, Workman's comp, my bank etc...:hammerhead:
No wonder some work under the table.
I do not condone this but it's not easy being above board.
:angry: :angry: :angry: :angry: :angry: :angry: :angry: :angry:
05-10-2006, 05:40 PM
I hear ya kc...there isn't a day that goes by I don't feel the very same way as well. :cry:
05-10-2006, 08:40 PM
hire a leasing company to get your employees from.
That is what I do.
My comp, and all that rolled together if I do it myself and sweat it out and make mistakes is 2.5% higher than if I let them do it.
I still hire who I want, fire when I want, just for bookwork purposes they are employees of the leasing company who in turn lease them to me.
The only way to go IMO
05-11-2006, 08:59 AM
Now I only have one employee but I find it very very easy to take care of all of this and I just use excel. The excel program has evolved of nearly a decade though. It is completly custom and prints out my employees pay statement, tracks all the taxes correctly by simply inputting the hours and tells me how much taxes to deposi at the end of the month. WC is paid upfront in the beginning of the year so no real work there. It takes more time for me to write out the check then take care of all the other paper work.
05-11-2006, 11:16 PM
im pretty sure he isnt talking about the paperwork and hiring process but more of the hide cash from the IRS so you dont lose every penny you make to taxes
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