I used to love tax time. . .it was a time when the money that I loaned the government throughout the previous year----would come back to me.
I now hate January!!
January is when Randy's contractor's license is up for renewal, along with his liability insurance, worker's compensation insurance & also personal property assessment. . .
Personal Property Assessment. . .what about double taxation---come on people!! They are going to make us pay taxes on EVERYTHING we use for the business. . .again. . .and again. . .and again. . .every year. . .they even put in an allowance for office equipment even if you don't claim any. . .so the computer I am typing this on right now---I will have to pay property tax on every year until we get a new computer. . .and then I'll have to pay tax on it. Lame.
Liability insurance--no bigee. Contractor's license--no bigee. . .the rest is a BIGEE!!
We have to pay 11% of all of our employee's wages into worker's compensation----which is worth bucks if someone gets hurt---but nothing if someone doesn't.
We also have to match of all our employee's wages for SS & medicare---that doesn't even include what we already pay ourselves!
What this amounts to. . .the bottom line is that for each employee we have between Uncle Sam & The Worker's compensation commission. . .costs us $500 EVERY MONTH. . .plus what we pay for wages!
Not only this, but I got a letter from the IRS today saying that I owe $1577.16 in withholding tax (that's with a $500 penalty) WHAT? I called my accountant, and, believe it or not, he said that the Dept. Of finance & Administration will actually just generate a FAKE letter if they are missing a report from you for that particular month. They just make up the numbers just to get my attention. Well. . .they got it. In actuality, I owe $0 to them because I had 0 employees that month. Crazy.
I am bugged. This is the kind of stuff that truly puts small businesses out of business & never even gives them the opportunity to not be small anymore.
Just a note to do business with small businesses. They need all the money they can get.
By the way---anyone need a pool?
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4 comments:
When we get a house, and are holdin down the fort, we definately will think about a pool and you will be the first ones we call. :-D
Oh and sorry it is so hard now for you to do your taxes Tanya. I know you used to enjoy doing them (I think). I hope that all works out, and you guys get a lot of money back, since you have to pay so much.
Man Tanya, that's CRAZY!!! I can't believe you are having to pay so much! Bummer! :(
Tanya a good rant and rave is always necessary!"
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