Jump to content

Profit Taxed?


Guest deanjones

Recommended Posts

Guest deanjones

Is there a way to get a general idea of how much the IRS rapes me for profit? Is there a specific formula for Sole Proprietors? Or a round about percentage they end up wanting at the end of the year from profits?

Link to comment
Share on other sites

Guest deanjones

Same goes for the US. :poke I had a small sole proprietorship for web design and I made a total profit of $800 (woo hoo!) and they took almost half of it. Of course I got to write off a bunch of things for it all, but I was curious if there was some sort of formula.

Link to comment
Share on other sites

Guest haroldshouseoftint
PROFIT :lol2

I've never made a profit in this business. Wasted film, employee theft, skyrocketing utilities, the such :poke

:lol2 I have the same problem

Link to comment
Share on other sites

PROFIT :lol2

I've never made a profit in this business. Wasted film, employee theft, skyrocketing utilities, the such :lol

:lol2 I dont have any employees but it would seem somebody is stealin the stuff!...that plus the wasted film....I go through alot of film....im prolly one of the worst tinters. Oh well...the way I look at it....surely one of these days ill catch on :poke:lol

Link to comment
Share on other sites

Falsifying tax returns is a federal offense!!!! .......willie! To answer the question-with self employment tax-ssi-and income tax you will pay around 26%. Get you an accountant-maybe use willie's and you'll get money back and qualify for food stamps! :poke:lol2

Link to comment
Share on other sites

Guest willie
So you never pay yourself? :lol2

yes, its called that little green stuff. We call it cash here in Texas. Straigh out of there wallet to mine :poke

Falsifying tax returns is a federal offense!!!! .......willie! To answer the question-with self employment tax-ssi-and income tax you will pay around 26%. Get you an accountant-maybe use willie's and you'll get money back and qualify for food stamps! :lol2:lol

dayum straight 2-3k a year with all the earned income credit and farm losses also :lol

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  •   Sponsored by
    tintwiz

    auto-precut.com

    signwarehouse

    martinmetalwork.com

    tinttek

    filmvinyldesigns

    ride wrap

    Conco

    Lexen

  • Activity Stream

    1. 0

      New to forum..You are great. Help with not 100% happy

    2. 0

      Contravision

    3. 29

      Paintless Dent Removal classes

    4. 0

      Flat glass installer wanted in phx, az.

    5. 3

      Is my work good enough to sell yet?

    6. 3

      Is my work good enough to sell yet?

    7. 4

      Removable rigid window tint sheets - WTF?

    8. 3

      Is my work good enough to sell yet?

    9. 4

      Removable rigid window tint sheets - WTF?

×
×
  • Create New...