03-23-2004, 10:07 AM
Well guys, i went down to the county clerk and got my DBA and tax id application. I have been doing this for years and now am going legit. What % does uncle sam like to take for his gut?
03-23-2004, 10:49 AM
Depends on how much you make versus how much you have in expenses.The more you make,the higher the tax bracket.Cool thing is,you can deduct so many expenses,you actually come out ahead.When I started it seemed money was going to everyone but me.INsurance,advertising,mowers,trimmers,etc.,,
Come tax time I deducted all I could including my mileage.Being a business owner has it's perks.I charge my customers what I pay to Uncle Sam.I just include it in the price.Figure out how much you need to make and then work your price up from there.Include taxes,SSI,workmans comp,Insurance,equipment costs,maintenance costs,etc.,,Every business does this.When you go to Wal Mart and pay $10 for something,2 dollars is going for their overhead and expenses.It really doesn't come out to be that much per customer.About 2-5 dollars.
Uncle Sam wants all of it.It's your job to keep him from getting it all. :)
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