Taxes-how many are self employed?

[antagon]

the chamber and the nfib are garbage lobbies. at some point, they need to shoulder the blame for their impotence in DC compared to their more-specialized interest competitors. their biggest contribution is networking and education among businesses, not advocacy in the least.

While I agree with you as far as the inability of the Chamber, and NFIB in D.C., I should have pointed at who Barry DID invite to the job summit, ie; the labor unions and academics. In comparison, he may as well have called it a "get together of my buddies."

small businesses are the fugly chick, i guess. lots to offer, but no invite to the prom. i think that politicians, as do many individuals (business-owners included), believe that the interests of big businesses and their non-owner managers and small businesses are the same. i blame poor advocacy. systemic apathy like nixing the SBA from the cabinet, or your job summit meeting don't help. stuff like this doesnt happen with at least a finger and a thumb poised on the govt nutsack, like the teamsters have.

 

[PixieStix]

If you have your life savings all tied up in your business it isn't a business, it's a hobby.

Are you really this stupid?

If his businesses are producing $200-300k in income for him then I wouldn't call that a hobby.

Smarter to not have over $800,000 of your personal income tied up in a business. If you need to do that you are doing something wrong.

OmO that is freaking scary

 

[PixieStix]

YouTube - Make Mine Freedom (1948)!


This cartoon seemed far fetched in 1948

 

[Flopper]

I retired from Boots-n-Coots International Well Control, began a second career with an engineering/construction firm (where I currently work) I'm invested in two private businesses, I own a cattle ranch (more of a hobby than anything) and my taxes are outragious (just under 70,000 for '09). I wouldn't mind it so bad if everyone paid their share. But seeing these generational welfare families and illegal aliens reaping the benefits of my hard work really pisses me off.

All I can say, is that I wish I was paying $70,000 in taxes.

 

[Gadawg73]

Are you really this stupid?

If his businesses are producing $200-300k in income for him then I wouldn't call that a hobby.

Smarter to not have over $800,000 of your personal income tied up in a business. If you need to do that you are doing something wrong.

OmO that is freaking scary

Econ 101 for dummies and for the 5th time here:

Alternative 1: put my savings in the stock market. BAD move for the last 5 years as the market is still down 40%.
Alternative 2: put my savings in a savings account at 2%. BAD move.
Alternative 3: put my savings in my business where the return on that investment averages 15% over the last 20 years.

Which one would you choose?

 

[PixieStix]

Smarter to not have over $800,000 of your personal income tied up in a business. If you need to do that you are doing something wrong.

OmO that is freaking scary

Econ 101 for dummies and for the 5th time here:

Alternative 1: put my savings in the stock market. BAD move for the last 5 years as the market is still down 40%.
Alternative 2: put my savings in a savings account at 2%. BAD move.
Alternative 3: put my savings in my business where the return on that investment averages 15% over the last 20 years.

Which one would you choose?

I meant that Ravi and her willful ignorance is scary. I totally get what you are saying, in fact I have been in your shoes

 

[Gadawg73]

Sounds like "i'm making lots of money but my greedy ass wants even more and more". Fuck the working class man. waaaa

Yep. But I actually think he's not making anything if all his life savings are being risked in the manner he claims. He's basically crying for someone to save him from himself.

Hey Gadwag, you don't work in your business?

I do want more and more. Greed is good. My greed creates JOBS for others and makes me work 70 hour weeks, nights and weekends.

News flash for the uninformed. I AM the working class man.
Wham it zero on set.

 

[PixieStix]

Only a fool puts all his eggs in one basket.

Only a fool is willfully ignorant, I posted a cartoon for you Ravi

 

[Gadawg73]

Only a fool puts all his eggs in one basket.

More wisdom from the "BIg Book of Worn-Out Investing Cliches."

It might be a cliche but it is true.

Here we have the OP claiming all his life savings are in one basket (his own ability to turn a profit) and claiming that somehow because Obama is president his "businesses" have no chance of success.

He's either a fool or a liar.

Ravi, you are the fucking liar. I AM the one that has always blasted everyone here for all the lies about Obama and the false internet myths and rumors about him.
I disagree with Obama on some issues but find him and his family to be fine and decent people. I get very angry and have fought the rumors against him here.
In fact, all of my businesses have thrived under Obama. His policies so far have not caused any downturn in my business.
However, capital gains tax raises will affect everyone with capital in the market.
Only a fool would not acknowledge that fact.

 

[Eccgmike]

YouTube - Make Mine Freedom (1948)!


This cartoon seemed far fetched in 1948

I was born 60 years too late!!

 

[antagon]

More wisdom from the "BIg Book of Worn-Out Investing Cliches."

It might be a cliche but it is true.

Here we have the OP claiming all his life savings are in one basket (his own ability to turn a profit) and claiming that somehow because Obama is president his "businesses" have no chance of success.

He's either a fool or a liar.

Ravi, you are the fucking liar. I AM the one that has always blasted everyone here for all the lies about Obama and the false internet myths and rumors about him.
I disagree with Obama on some issues but find him and his family to be fine and decent people. I get very angry and have fought the rumors against him here.
In fact, all of my businesses have thrived under Obama. His policies so far have not caused any downturn in my business.
However, capital gains tax raises will affect everyone with capital in the market.
Only a fool would not acknowledge that fact.

if you own a small business, you should not pay capital gains tax. fire your tax guy.

 

[Gadawg73]

It might be a cliche but it is true.

Here we have the OP claiming all his life savings are in one basket (his own ability to turn a profit) and claiming that somehow because Obama is president his "businesses" have no chance of success.

He's either a fool or a liar.

Ravi, you are the fucking liar. I AM the one that has always blasted everyone here for all the lies about Obama and the false internet myths and rumors about him.
I disagree with Obama on some issues but find him and his family to be fine and decent people. I get very angry and have fought the rumors against him here.
In fact, all of my businesses have thrived under Obama. His policies so far have not caused any downturn in my business.
However, capital gains tax raises will affect everyone with capital in the market.
Only a fool would not acknowledge that fact.

if you own a small business, you should not pay capital gains tax. fire your tax guy.

Wrong
One of my businesses is an investment company. I own property. When I sell the property I pay capital gains taxes on it.
That is how it works my man.
Who told you there is a difference if it is a small versus a "big"business?
I took Tax Accounting 3001,3002, 30003, 4001, 4002 and 4003 at Georgia State University from 1982-1985 graduating with a BBA and a minor in Tax accounting.

 

[antagon]

small business owners have a different relationship with their business than most large businesses have with their owners.

i'm sure there's some inevitabilities i'm not accounting for, but there are more effective ways to take money out of a business than snatching it out of owner's equity, if you are concerned about tax. hire a tax guy, maybe?

 

[KissMy]

How many are self employed and have their life savings at risk daily running their businesses?
How much do you have at risk in your business?
I have $500,000.00 in savings invested in one of my businesses and $300,000.00 in another. This represents 95% of my life savings and I am 55. Add in another $225,000.00 in loans and I have over a million bucks AT RISK.
I will explain the tax implications later and how they dramatically affect the lifeblood of this country, the small business person.

You should have worked for the government or been a teacher. Then you would have millions in a government guaranteed retirement pension fund. You would not have to risk any of your money or work a day after retirement. Those private sector suckers would pay your golden retirement. Just could have taken a permanent vacation, set back, relax while the money rolls in.

 

[PixieStix]

Do what nancy pelosi says, after all she is smart and stuff

http://www.usmessageboard.com/healt...advocates-people-living-of-the-tax-payer.html

 

[sealybobo]

small business owners have a different relationship with their business than most large businesses have with their owners.

i'm sure there's some inevitabilities i'm not accounting for, but there are more effective ways to take money out of a business than snatching it out of owner's equity, if you are concerned about tax. hire a tax guy, maybe?

Small business owners work 4 weeks a month and 3 of those weeks all the money they make goes to paying the bills. I feel sorry for small business owners. If they rent, the landlords are ripping them off. The value of those properties aren't what they used to be, so I think landlords need to drop their rent because its very expensive to have a good location. Especially in this economy.

The HIRE Act is a great tax break for small business. They don't pay Social Security taxes on new hires for one full year. Great democratic tax break. Helping solve the unemployment problem.

 

[sealybobo]

Do what nancy pelosi says, after all she is smart and stuff

http://www.usmessageboard.com/healt...advocates-people-living-of-the-tax-payer.html

No worker left behind is training the unemployed so they can get jobs in this new global economy. They can no longer work in factories and landscaping companies and building houses and construction and cooking and supermarkets because illegals do those jobs now.

And archetechs and IT and sales and customer service jobs are going overseas.

So are the HQ's for all the corporations. Foreign interest is buying up all our companies. We should just tax all these corporations more and live off the interest. Why should we work. We got foreigners to do the work.

 

[oreo]

How many are self employed and have their life savings at risk daily running their businesses?
How much do you have at risk in your business?
I have $500,000.00 in savings invested in one of my businesses and $300,000.00 in another. This represents 95% of my life savings and I am 55. Add in another $225,000.00 in loans and I have over a million bucks AT RISK.
I will explain the tax implications later and how they dramatically affect the lifeblood of this country, the small business person.

Well hell--I will tell you that I have been self-employed for over 30 years and have hired at maximum 17 employees. Last year in my business is the FIRST year ever--in over 30 years that my tax accountant told me that I would actually get a REFUND--when I am used to paying thousands of dollars to the fed and the state.

The fall out of the chair moment!!!! I didn't pay one single dime in federal taxes last year--but I still got a refund. Now if I got it--there's millions of others that got it too. It's called earned income tax credit.

So all of you have paid me for my underachievement this year--- Hell, at first I thought I would give it back, but then thought how our government wastes our money and decided to keep iit. So thanks to all of you "producers."

 

[sealybobo]

How many are self employed and have their life savings at risk daily running their businesses?
How much do you have at risk in your business?
I have $500,000.00 in savings invested in one of my businesses and $300,000.00 in another. This represents 95% of my life savings and I am 55. Add in another $225,000.00 in loans and I have over a million bucks AT RISK.
I will explain the tax implications later and how they dramatically affect the lifeblood of this country, the small business person.

Well hell--I will tell you that I have been self-employed for over 30 years and have hired at maximum 17 employees. Last year in my business is the FIRST year ever--in over 30 years that my tax accountant told me that I would actually get a REFUND--when I am used to paying thousands of dollars to the fed and the state.

The fall out of the chair moment!!!! I didn't pay one single dime in federal taxes last year--but I still got a refund. Now if I got it--there's millions of others that got it too. It's called earned income tax credit.

So all of you have paid me for my underachievement this year--- Hell, at first I thought I would give it back, but then thought how our government wastes our money and decided to kept it. So thanks to all of you "producers."

Democrats keep control of both houses and Obama beats Mitt in 2012.

 

[oreo]

How many are self employed and have their life savings at risk daily running their businesses?
How much do you have at risk in your business?
I have $500,000.00 in savings invested in one of my businesses and $300,000.00 in another. This represents 95% of my life savings and I am 55. Add in another $225,000.00 in loans and I have over a million bucks AT RISK.
I will explain the tax implications later and how they dramatically affect the lifeblood of this country, the small business person.

Well hell--I will tell you that I have been self-employed for over 30 years and have hired at maximum 17 employees. Last year in my business is the FIRST year ever--in over 30 years that my tax accountant told me that I would actually get a REFUND--when I am used to paying thousands of dollars to the fed and the state.

The fall out of the chair moment!!!! I didn't pay one single dime in federal taxes last year--but I still got a refund. Now if I got it--there's millions of others that got it too. It's called earned income tax credit.

So all of you have paid me for my underachievement this year--- Hell, at first I thought I would give it back, but then thought how our government wastes our money and decided to kept it. So thanks to all of you "producers."

Democrats keep control of both houses and Obama beats Mitt in 2012.

Seabolo--is that all you have to say regarding my remark. IOW--you really don't mind paying me 1000 dollars in a refund when I didn't pay a dime in federal taxes anyway. Is this the way you believe this country thrives?---

Just to let you know--I am really not the "poorest" person in town--I own a lot of property.