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Old 06-03-2010, 02:11 PM
 
89 posts, read 146,974 times
Reputation: 41

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Wow, that was an... interesting comment. I hope it's not totally true, but it seems a little harsh even if it is...
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Old 06-03-2010, 02:20 PM
 
Location: Hempfield Twp
782 posts, read 511,460 times
Reputation: 210
If he is now considered an independent contractor than yes, it is mostly true. Hope you turn out way more the $20,000 in sales or do all the work yourself. :-)


PS - I see the tents all the time in Irwin/NH/Greensburg area...similar to the t-shirt places after the Steelers or Pens win a title.

Heck, even Giant Eagle gets away with selling some pretty big "fountains" and other "novelties", I assume. I have seen roman candles, etc, in their pre-packaged boxes. Not much aerial stuff, if any, is included.

Oh, the days growing up blowing up rotted tree stumps and ant hills with M-80s. What memories! :-)
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Old 06-03-2010, 02:24 PM
 
Location: Pittsburgh area
9,891 posts, read 10,188,832 times
Reputation: 4708
That stuff about taxes is actually true unless I'm missing something about the arrangement. If you are working as an independent contractor, you'll be operating a business so to speak. I dunno whether you need a business license or not, but I wouldn't just assume you don't. The company should be helping you through all that part.

But you're going to get 1099 earned income, and that is subject to self-employment tax, i.e. you'll have to pay both halves of the social security and medicare taxes instead of the typical employee half only. It'll be considered earned income so that means the local income tax is due, and certainly the federal and state income taxes are due. I would expect them not to be withheld, so you may need to make an estimated payment if you do not want to have a penalty next April.

Workers comp is an insurance not a tax. I don't know how that is covered for a very small business, whether it is strictly required or not. I would like to think if necessary this would come from the company, but it is something to ask.
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Old 06-03-2010, 03:27 PM
 
Location: Greensburg, PA
1,104 posts, read 1,545,627 times
Reputation: 176
Quote:
Originally Posted by South Range Family View Post
Congratulations on being a new business contractor. A guaranteed 2 grand sounds pretty good for only 10 days work. Of course you will have to split that with your 3 buddies, making it $500 for 10 days. That's not too bad except for being 24 hour days. I'm sure that they already told you that they are going to hand you a 1099 form so that you will be responsible for all State, Federal, Social Security, local wage, and Workman's comp taxes.

That's the 12.4% Social Security tax since you are both the employee, and employer. Are you going to pay the 6.2% that your buddies will owe, or are they all going to get 1099 forms too? That would make them responsible for the full 12.4%

I guess I answered my own question about why they don't just hire somebody for minimum wage. They talked you into working 24 hour days for less than minimum wage.
Well, for 264 hours, or roughly 11 days, that would equal to approximately $7.50, which is a little higher than the PA and national minimum wage of $7.35, so they are well within the minimum wage range. Also, they don't require me to be on site 24 hours a day, but I'm probably not going to have a night watchman so I'll just stay on site. I've already found two friends to help out, but they are only going to be there for two days since I'll be working alone for 9 of the 11 days so I'll be paying their fair share of taxes for what they get because I'm only paying around $200 for both people to do a combined 26 hours of work. So $1800 bare minimum looks very good despite the LONG days that I will have to put in. As for all the other tax details, that's something that they've already discussed with me but they will go into further detail when I meet up with them in a few weeks for a meeting. Greg, as for the license and permits, they've already told me that they will be taking care of all that.

Last edited by neurodistortion; 06-03-2010 at 03:41 PM..
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Old 06-15-2010, 10:42 PM
 
2 posts, read 2,438 times
Reputation: 10
I too have entered into a business arrangement with Keystone. Like you I'm also a little nervous. Did you hear anything from them regarding if you as the tent operator are liable for all the merchandise and what not? Did you have to sign anything regarding that?
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Old 06-15-2010, 10:57 PM
 
Location: Greensburg, PA
1,104 posts, read 1,545,627 times
Reputation: 176
Quote:
Originally Posted by 5dcin View Post
I too have entered into a business arrangement with Keystone. Like you I'm also a little nervous. Did you hear anything from them regarding if you as the tent operator are liable for all the merchandise and what not? Did you have to sign anything regarding that?
Well, if you haven't gone to a meeting yet, then you're required to attend. Depending on the location of your tent, there should be a place near you. They should've sent you an email with the specific location where you should attend. I've already went to the meeting in New Stanton this past Sunday and basically, they showed us how to set up the tent and discussed the basics on running the tent, setting up the merchandise, etc. If you've already attended a meeting, then they should've given you a binder filled with information related to operating the tent as well as the necessary permits and supplies that you need to set it up. They made us sign some waiver detailing what we're liable for, including making sure that all merchandise is accounted for and returned to them at a proper time. As for anything that may get stolen during business or non-business hours, they told us that they'll take care of all that and not to report it to the police.

As for the compensation, I've spoke to two guys sitting at my table who has operated a tent for the past five years and they told me that when you drop off your merchandise, they will give you a check for $1000, and then about a week later, they will send you another check for the remaining balance including all your bonuses that you may receive.

Last edited by neurodistortion; 06-15-2010 at 11:06 PM..
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Old 06-16-2010, 08:36 AM
 
146 posts, read 171,283 times
Reputation: 30
Doesn't sound like a bad gig if you've got the time to burn, especially if you can manage to work your way into that 10% bonus territory. $20k sounds like a heck of a lot of fireworks (given the legal options) but if you're able to set up shop in the right traffic I would assume it's do-able.

Best of luck and please let us know how it works out.
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Old 06-17-2010, 12:21 PM
 
2 posts, read 2,438 times
Reputation: 10
This seems like a dumb question, but have you thought about what you will do if you are alone at the tent during business hours and must go to the bathroom?
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Old 06-17-2010, 03:48 PM
 
Location: Greensburg, PA
1,104 posts, read 1,545,627 times
Reputation: 176
Quote:
Originally Posted by 5dcin View Post
This seems like a dumb question, but have you thought about what you will do if you are alone at the tent during business hours and must go to the bathroom?
Yes, I've thought about that numerous times. In my case, I've already arranged with my brother to cover my tent after each business day so that I can shower, get some new clothes and do some other stuff. Likewise, if I need to use the bathroom during business hours, then either I may have to wait until my manager arrives usually around midday so he could take over while I use the bathroom, or have my brother come down to cover me. Lets just hope that I don't have an emergency and have to go bad, lol. Since we both only have one car to share, then we have to do things a little differently than those who have two cars.
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Old 07-06-2010, 04:31 PM
 
Location: About 10 miles north of Pittsburgh International
2,170 posts, read 2,077,049 times
Reputation: 1842
So, how'd ya make out?
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