1. Can’t make it to the GIE+EXPO 2017?
    LawnSite brings the trade show floor to your fingertips with our new GIE+EXPO 2017 Sneak Peek video series debuting now in the Lawn Mowing forum.

    Dismiss Notice

Taxes!

Discussion in 'Employment' started by andyslawncare, Jul 11, 2013.

  1. andyslawncare

    andyslawncare LawnSite Senior Member
    Messages: 812

    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....
     
  2. CL&T

    CL&T LawnSite Senior Member
    Messages: 493

    What the hell is an employment tax??
     
  3. larryinalabama

    larryinalabama LawnSite Fanatic
    Messages: 19,238

    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
     
  4. CL&T

    CL&T LawnSite Senior Member
    Messages: 493

    $2400/mo for FICA for 4 employees? You paying those guys $2000/week? (Unless my math is wrong.)
     
  5. TMlawncare

    TMlawncare LawnSite Bronze Member
    Messages: 1,199

    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.
     
  6. CL&T

    CL&T LawnSite Senior Member
    Messages: 493

    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.
     

Share This Page