Printable View
Bizarrely inspired by something video game related, I wound up digging through my tax returns for the last few years and doing some late night math. In short, I'm trying to figure out if I can save myself some money by incorporating, rather than remaining self-employed for taxation purposes.
However, I could use some basis for comparison. If you know how much you paid in the last few years as a total percentage of your income for taxes, and you feel like sharing, I'd appreciate it :)
I work full time, own a house, and started my own business this year.
I'll be getting a fat return this year.
How does this help you?
Well it probably doesn't!
*runs out*
Talk to an accountant. Seriously. Much depends on write offs, the nature of the business, the volume of the business, and so on. No one would be better qualified to discuss this with you.
I don't pay federal taxes, thanks to P.R.'s political limbo. :)
Talk to a professional if you want to maximize your return/minimize your payment.
I'll be getting back a hefty amount this year, I'm pretty excited about it.
Ugh, don't get me started on taxes. We pay ridiculous amounts of quarterly taxes on our station's property, in addition to the ridiculous monthly tribute we have to pay our parent gas company in rent. Frankly, I'm amazed we turn any kind of profit at all. Oh, wait, we don't. Nevermind :confused:
Yea, my family is of part Puerto Rican descent, I know all about PR people's lovely benefits of not joining our Grand Union.Quote:
Originally posted by Melf
I don't pay federal taxes, thanks to P.R.'s political limbo. :)
This is easily the best info you'll find in this thread.Quote:
Originally posted by haohmaru
Talk to an accountant. Seriously. Much depends on write offs, the nature of the business, the volume of the business, and so on. No one would be better qualified to discuss this with you.
The money you spend on an accountant is well worth it.
*sigh*
I have an accountant. I talk with him regularly. That isn't the question I asked :P
But you could still ask your accountant about peoples average percentage they pay on shit.Quote:
Originally posted by Victrix
*sigh*
I have an accountant. I talk with him regularly. That isn't the question I asked :P
I'd tell you, but I don't want to dig thru all my paperwork.
Thats what I have an accountant for. :)