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  #1  
Old 07-11-2013, 12:22 AM
andyslawncare andyslawncare is offline
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Join Date: Jan 2008
Location: Palmetto, GA
Posts: 812
Taxes!

Currently 4 employees cost me enough in taxes to cover mortgage on more than 1 of my high end properties, enough to hire another 2 employees. Employment tax = $2400/month Quarterly tax = $2700 = ~$39600/year in taxes.

Yes gentlemen, the majority chose the wrong president.

Any loopholes found? Our country would look like **** with all the lazy idiots living here if it weren't for people like us! We need a break, or the low balling non-tax-paying-fly-by-night companies will continue to bring down our fees. I sometimes can't believe that my bid was beat until I see someone working there!

Hopefully I didn't offend anyone, but hopefully no business owners voted for the wrong president....
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  #2  
Old 07-11-2013, 07:49 PM
CL&T CL&T is offline
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Join Date: May 2011
Location: New York
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What the hell is an employment tax??
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  #3  
Old 07-11-2013, 07:55 PM
larryinalabama larryinalabama is offline
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Join Date: Jan 2008
Location: Ragland Al
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Quote:
Originally Posted by CL&T View Post
What the hell is an employment tax??
SSI or social security, employer pays 7.5%, employee pays 7.5%.

Self employed pays 15%.

All I can say to the OP is go SOLO
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  #4  
Old 07-12-2013, 12:04 AM
CL&T CL&T is offline
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$2400/mo for FICA for 4 employees? You paying those guys $2000/week? (Unless my math is wrong.)
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  #5  
Old 07-12-2013, 07:09 PM
TMlawncare TMlawncare is offline
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Join Date: Feb 2002
Location: nw missouri
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He is talking about his quarterly payments is my guess. Federal/state payroll taxes, fica (both employees and employer match) and state unemployment tax. If your quarterly payroll is $20000 figure on your quarterly payment to be around $6000 plus or minus a couple hundred. Yes its really that high.
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  #6  
Old 07-12-2013, 07:37 PM
CL&T CL&T is offline
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Join Date: May 2011
Location: New York
Posts: 491
Well, he did say "Employment tax = $2400/month". You can't complain about federal and state witholding because it's deducted from your employees pay, it doesn't come out of your pocket. The 7.5% FICA shouldn't be very much and I can understand complaining about the unemployment tax.

Also, how your business is organized (S corp, C corp, LLC) makes a difference in the taxes you pay.
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