Self Employment Tax

Wayne Gable is the director of The Tax Foundation, he's also the Managing Director of Federal Affairs at Koch Industries. For me, this immediately raises suspicion about any of their assertions. I'm not objecting to the main point of the linked article, eliminating corporate tax would certainly help some small corporations. However it appears that GE has figured out how to earn billions and reduce their corporate tax to zero in spite of the current tax law. I suppose when you and I can spare several million for tree industry lobbyists our small corporations will be able to evade, oops, avoid corporate taxes too. Then we can use our corporate tax savings to bribe, oops donate to the campaign funds of favorable legislators.
 
Our system is flawed... It is not fair and it can make one very angry. The complexities in our system are what cause confusion. I don't have time to become a tax code expert and I don't want to...

I have no choice but to operate within this system and do the best I can. I have found that my only peace comes with planning and preparation so that I can operate within this system without surprise.

I apologize to Jamin for the derail here... I think Glenn and I probably share a lot of the same views...

Some companies in our industry don't understand their costs and don't charge enough to cover those costs. I have taken a new view of this whole situation in order to keep my blood pressure in check... I charge what it costs to do business. I include in this cost good benefits and a fair profit. I no longer compete on market demands. If this market cannot support my company... I will shut the doors. I have been operating like this for about 3 years. It has made a difference in my mental state. This is the only way I have found to "control" this tax situation. I was sick of "being controlled" by it.

By the way... just when I thought I had made a breakthrough we owed an unexpected $10,000.00 additional in workers comp last month. In Ohio it is a State run system and they changed the rules... we misunderstood the notification and got a big surprise.

Taxes are a cost of doing business. Pass that cost on... All my efforts at changing the tax code have proven fruitless.

Sorry for the long post...
 
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I suppose when you and I can spare several million for tree industry lobbyists our small corporations will be able to evade, oops, avoid corporate taxes too. Then we can use our corporate tax savings to bribe, oops donate to the campaign funds of favorable legislators.

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I agree 100%...
 
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I used to get so mad about paying tax... My dad set me straight one day. He said "If you aren't paying any taxes, you aren't making any money". He is right...

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Not a bad derail at all... Since I sort of started a rant.
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But, that fatherly wisdom is right on. I guess part of my rant is also because last year we jumped up 30% gross and 25% net in sales. So, naturally, my SE tax would be higher.

And my accountant gives me heads up for most tax stuff too. It is very helpful. But, I guess both of us didn't see this coming (although we should have).

So, I've been in business for 9 years now and we continue to grow. I have a difficult time planning for stuff (saving), when this area has a lot of guys doing business under the table. Therefore, forcing me to operate at a lower profit margin... In away, that should be my rant.
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I guess part of my rant is also because last year we jumped up 30% gross and 25% net in sales.

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Nice job...
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So, I've been in business for 9 years now and we continue to grow. I have a difficult time planning for stuff (saving), when this area has a lot of guys doing business under the table. Therefore, forcing me to operate at a lower profit margin... In away, that should be my rant.
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... This is our 12th year. I think the problems you discuss never go away... you just get a little better every year at dealing with them!
 
One of these days people are going to wake up and realize that there isn;t much of a future for an economic system where the bankers and wall street are taking 35% of the GDP... That's right.. over a third for the fat cats...

Historically, greasing the wheels of finance in a capitalist system costs about 10% of the GDP... its not the welfare mothers that are robbing us blind, its wall street and the bankers... and the bail out just made them bolder.. with Goldman Sachs running the finace dept of the country, we're all getting screwed... Obummer/Bush.. it doesn't matter.. the bankers care running the show, all with different puppets and a bipartisan system that creates a right and left debate, which is just a distraction to absorb the attention and cover the real crooks from scrutiny... THE FEDERAL RESERVE BANKERS HAVE NEVER BEEN AUDITED!!!

And Beryanky had the balls to tell congress that he didn't have to answer their questions when they asked him what he did with all the bailout money... He straightened them right out.. they thought they were in charge!
 
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One of these days people are going to wake up and realize that there isn;t much of a future for an economic system where the bankers and wall street are taking 35% of the GDP... That's right.. over a third for the fat cats...

Historically, greasing the wheels of finance in a capitalist system costs about 10% of the GDP... its not the welfare mothers that are robbing us blind, its wall street and the bankers... and the bail out just made them bolder.. with Goldman Sachs running the finace dept of the country, we're all getting screwed... Obummer/Bush.. it doesn't matter.. the bankers care running the show, all with different puppets and a bipartisan system that creates a right and left debate, which is just a distraction to absorb the attention and cover the real crooks from scrutiny... THE FEDERAL RESERVE BANKERS HAVE NEVER BEEN AUDITED!!!

And Beryanky had the balls to tell congress that he didn't have to answer their questions when they asked him what he did with all the bailout money... He straightened them right out.. they thought they were in charge!

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I actually think I agree... Good rant.
 
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