[Rhodes22-list] Tax Advice?
Slim
salm at mn.rr.com
Sun Nov 12 17:24:12 EST 2006
Philip,
My price has risen slowly but steadily for years although my pay varies from
one venue to the next. I negotiate anew with each one and get what I can
get. I suppose I could say that I'm passing my tax expense on to the
customer but then some of my customers will shop elsewhere.
Slim
On 11/12/06 7:44 AM, "Philip" <3drecon at comcast.net> wrote:
> Slim,
> Has your price for a performance ever gone up or do you charge the same
> as when you started? Do you consider your Net or only the Gross? If you
> charge more the places you perform have to figure that into the price of
> their goods and services or even consider not having live entertainment, if
> that is an option.
>
> Philip
>
>
> -----Original Message-----
> From: rhodes22-list-bounces at rhodes22.org
> [mailto:rhodes22-list-bounces at rhodes22.org] On Behalf Of Slim
> Sent: Sunday, November 12, 2006 4:09 AM
> To: Rhodes22-list
> Subject: [Rhodes22-list] Tax Advice?
>
> My company pays taxes. I run a company of one. I'm the chief, cook and
> bottle washer. I file as a self-employed independent contractor and pay
> taxes every year. I'm sure I could find a crooked accountant to figure out
> how to show a loss every year. Am I being stupid not to? Is it worth
> looking over your shoulder for the next 7 years?
>
> I could form a S-Corp and avoid some taxes and other liabilities and be
> eligible for group health but there's some up-front expense that I'm not
> sure I'm ready for. I don't know.
>
> I invest in my SEP IRA (mutual funds) and also my ROTH IRA.
>
> Any advice?
>
> Slim
>
> On 11/11/06 9:28 PM, "Brad Haslett" <flybrad at gmail.com> wrote:
>
>> MJM,
>>
>> You are correct. Companies don't pay taxes. They build the cost of taxes
>> in to the cost of their goods and services and the consumer pays the
> taxes.
>> When companies distribute profits, the shareholders (who are the ones who
>> pay taxes to begin with) are taxed again. It really is that simple.
>>
>> Brad
>>
>>
>> On 11/11/06, Michael Meltzer <mjm at michaelmeltzer.com> wrote:
>>>
>>> There is a simpler problem, the only people who will pay taxes will be
>>> people with w2 income, everyone else including the company will figure a
>>> way
>>> out of it. It really that simple
>>>
>>> -mjm
>>>
>>> -----Original Message-----
>>> From: rhodes22-list-bounces at rhodes22.org
>>> [mailto:rhodes22-list-bounces at rhodes22.org] On Behalf Of Philip
>>> Sent: Saturday, November 11, 2006 8:59 PM
>>> To: The Rhodes 22 mail list
>>> Subject: RE: [Rhodes22-list] Taxes.
>>>
>>> Bill,
>>> Not distribution but re-distribution. I don't like anyone taking from
>>> me
>>> to provide to others. That should be charity. I like to enjoy the
> fruits
>>> of my labors, and I resent others enjoying the fruits of my labors when
>>> they
>>> are not entitled to them.
>>>
>>> Philip
>>>
>>>
>>> -----Original Message-----
>>> From: rhodes22-list-bounces at rhodes22.org
>>> [mailto:rhodes22-list-bounces at rhodes22.org] On Behalf Of Bill Effros
>>> Sent: Saturday, November 11, 2006 2:37 PM
>>> To: The Rhodes 22 mail list
>>> Subject: Re: [Rhodes22-list] Taxes.
>>>
>>> Philip,
>>>
>>> It's always a distribution of wealth issue.
>>>
>>> Bill Effros
>>>
>>> Philip wrote:
>>>> I don't mind paying my fair share and I don't care if it is going to the
>>>> Constitutionally authorized appropriations. I resent paying when it
>>> becomes
>>>> a distribution of wealth issue.
>>>>
>>>> Philip
>>>>
>>>>
>>>> -----Original Message-----
>>>> From: rhodes22-list-bounces at rhodes22.org
>>>> [mailto:rhodes22-list-bounces at rhodes22.org] On Behalf Of
>>>> R22RumRunner at aol.com
>>>> Sent: Friday, November 10, 2006 2:37 PM
>>>> To: rhodes22-list at rhodes22.org
>>>> Subject: [Rhodes22-list] Taxes.
>>>>
>>>> Brad,
>>>>
>>>> I am neither conservation or liberal. My wife swears I'm a closet
>>>> conservative, but I deny all.
>>>> I am glad to have the opportunity to pay taxes. As a citizen, I accept
>>> the
>>>> responsibility and make every effort to make my tax returns as accurate
>>> as
>>>> possible.
>>>>
>>>>
>>>> Rummy
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>>>>
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