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More excuses. Lots of businesses are started without investors money, even with little capital. It does require hard work, sacrifice and an understanding of supply and demand.
Burger flippers generally do not have sufficient capital to start a business. Sheesh!
You tell me HowTF a burger flipper starts a burger joing.
Nope - we work very closely with our CPA. We have an LLC.
We can choose to pay quarterly or once a year. We choose to pay once a year and allow our money to earn a bit of interest in the interim. We save on tax preparation fees as well that way.
But thanks for the free tax advice - which is worth exactly what I paid for it.
Oh really. If you're making that kind of profit, I've never heard of an LLC that doesn't have to pay quarterly estimated taxes--do tell how that works. In fact, a LLC has to file quarterly if they're going to owe more than $500. That doesn't sound like paying "more than most people make in a year" in taxes. Estimated Taxes
You have not been following along. I'm not going to explain it.
He totally twisted what I said (you can go back and read it) about it being hard to get a second job when you are working shifts and responded with this very personal, vituperative attack. This guy is a kid, about the same age as my youngest child, and yet he thinks he has all the answers. He has very simplistic solutions to the world's problems.
Since so many of you have no idea what I'm talking about, probably b/c you never had a job like that, let me illustrate:
Say you have a job working 7AM to 3:30 PM, as a CNA in a nursing home. (These jobs pay barely above minimum wage.) You cannot be at a second job until about 4 PM. Now if you get hired for a job that has a start time of 3:45, you will not be permitted to leave the first job, even 15 min. early, to get to the second. Period. The management will not allow it. I have seen this.
Nor would the second job likely permit you to arrive 15 minutes late. Minimum wage shift jobs are like that. Sometimes the working hours of the two jobs conflict. Capiche?
First of all, guilty as charged, when it comes to your inflammatory posts - you're right. When I start reading much of what you've written and you go off on some emotional, illogical tirade, I DO stop reading and move on.
Secondly - regarding shifts, part time work and holding two low paying jobs, let me give my perspective, as someone who worked in the staffing industry for many years:
Good workers may start out at minimum wage, but they DO NOT stay at minimum wage for very long. A good worker in an entry level job is still valuable to the company - it's the slipshod workers who do the bare minimum or less in entry level jobs whose jobs are most in jeopardy.
When a company has a good, hard worker in place, they are USUALLY more than willing to be a little flexible on shifts or schedules. That being said, sometimes the nature of the work is such that there simply isn't much room for flexibility, regardless of wage or payscale.
For instance, I worked as a bank manager for several years. It takes two people to open many combinations in the mornings. Workers simply cannot be very late - not even the manager (making much more than minimum wage) because otherwise the safes and combos can't be worked, and the bank can't open in time to serve it's customers.
That's the POINT. There should be no floor on wages. As an individual, I should be able to hire myself out at whatever hourly rate I am willing to accept.
Sweeping floors is not a high skill job. There are very few qualifications for such a job, and very few ways a floor sweeper can make themselves more attractive for a company looking to hire someone to sweep floors. If I want to make myself more attractive to a potential employee by accepting a lower wage, why should I not be allowed to do so?
And a landlord should be able to rent housing of any safe quality or size I am willing to accept, and a property owner should be able to sell me any safe property I am willing and qualified to buy.
First of all, guilty as charged, when it comes to your inflammatory posts - you're right. When I start reading much of what you've written and you go off on some emotional, illogical tirade, I DO stop reading and move on.
Secondly - regarding shifts, part time work and holding two low paying jobs, let me give my perspective, as someone who worked in the staffing industry for many years:
Good workers may start out at minimum wage, but they DO NOT stay at minimum wage for very long. A good worker in an entry level job is still valuable to the company - it's the slipshod workers who do the bare minimum or less in entry level jobs whose jobs are most in jeopardy.
When a company has a good, hard worker in place, they are USUALLY more than willing to be a little flexible on shifts or schedules. That being said, sometimes the nature of the work is such that there simply isn't much room for flexibility, regardless of wage or payscale.
For instance, I worked as a bank manager for several years. It takes two people to open many combinations in the mornings. Workers simply cannot be very late - not even the manager (making much more than minimum wage) because otherwise the safes and combos can't be worked, and the bank can't open in time to serve it's customers.
I have had one job where EVERY non-managment employees was paid minimum wage, no raises, ever.
I have had a different job where every non-management employee was paid within 25 cents of minimum wage, and the higher-paid employees had all been with the employer for over 10 years.
most small businesses have a 2% profit ratio OR LESS
you people do understand rations and comparisons...you do???
minimum wage is less than 5% of the working population
minimum wage is UNSKILLED workers...even the fast food places PAY MORE than min wage
wages are based on need and SKILL
you pay this level worker $7...this level worker $9...this level worker $11, this level worker $18...etc
when you raise ther min....what happens to that DSKILLED worker that was making $9
raising the min wage in 07,09 was PART OF THE RECESSION we are trying to get out
Wages are based on the minimum employers are required by market conditions to pay.
I've had jobs where pay ranges ran from zero (everyone was paid minimum wage) to 25 cents per hour, and it's ludicrous to suggest that every worker was equally skilled and had equal productivity.
Oh really. If you're making that kind of profit, I've never heard of an LLC that doesn't have to pay quarterly estimated taxes--do tell how that works. In fact, a LLC has to file quarterly if they're going to owe more than $500. That doesn't sound like paying "more than most people make in a year" in taxes. Estimated Taxes
If you read the link you provided, you will see that if you don't pay quarterly estimated taxes, the LLC MAY be subject to a penalty. There are several ways an LLC can be structured, and each type of structure has different requirements, which may or may not require paying estimated taxes quarterly.
You may not know this, but if an LLC IS required to pay quarterly, and instead pays only once a year, the penalty is in fact extremely small - less than what it would cost most people to have their taxes prepared by their CPA.
Here's some additional information on the various structures of LLCs - as you can see, tax issues can be quite complex, which is why we hire a tax professional to prepare our taxes, and we basically do what she tells us to do rather than gathering tax advice from strangers online. http://biztaxlaw.about.com/od/taxeso...cincometax.htm
All I can tell you is that we have filed our taxes and paid once a year for four years as an LLC and have not had any trouble with the IRS about the timing and processing of our tax payments. And we send in a very large check to the IRS every April 15 - without going into any more personal detail I'll just tell you that it is MUCH larger than $500.
Last edited by KathrynAragon; 02-15-2013 at 11:54 AM..
Well if something happened to you in that year, your wife could have been in that same boat.
One would think in that year, the wife could have taken care of herself. After all, she'd only been married a year, and would have been taking care of her own needs prior to that year.
It is really sad how our country is turning. Soon it will be like the old days where you are going to have to live in the big bosses housing and buy from his store because the big boss is all that matters. We have too many people who need to work and make a living, more than there are good paying jobs. Today I went food shopping. I shop at his particular supermaret because it is clean and bright and the employees are the best. I know from other people that they too shop there because of the employees. For the past several months I haven't been seeing those familiar employees, new people who are pleasant but don't have a clue. I get home and my bread is flat bagged with cans. Fresh vegetable and fruit with raw meat. Meat packages that the wrapping is torn. Not like what we are used too where the food is sorted and bagged. Then you go to pay, they don't have a clue. I had to run back to the store because paying by check was done incorrectly by the cashier. Today a familiar face right up to her line I went,followed by several other people. There was another cash register open, no one was there. An employee came up to the customer behind me and said I can take you. The look at that customers face... she was already saying hello how are you to her familiar cashier. She didn't want to leave and said so.... as she continued to put her items up. Followed by another customer willing to wait.
Some will say no big deal she is only a cashier it is an entry level job it's all about the bottom line, but with the bottom line the customer...all of us lose out. Service hasn't been so great at this supermarket with the new workers. service I receive is poorer and I have to accept poor service for the bottom line. No different then when I use to go to the gas station and get my oiled check or my windshield cleaned. The big boss is making out just fine but me not so much. Or the food we are eating... we use to be able to have fresh food, delicious apples now it is about mass production and food isn't quite as tasty as it use to be because of the bottom line, those local farmers are becoming extinct. So as we keep on cutting, keep on making it all about big business and the dollar it is us who lose out. In more ways then one. Right now it is these "entry level" workers, low skilled and skilled workers who are getting hit the most. Although we have been working on the state workers because they are making to much. What you don't realize is you may be an accountant or lawyer or top executive and think it can't happen to you because you are educated and you keep up on your skills. I say it can, teachers use to say the same thing but now there are so many college graduates with a teaching degree who can't find a job, a relative graduated two years ago as a lawyer he is afraid he is going to be a law clerk for years before an opportunity comes his way. That cashier I was talking about, whose hours were cut she is helping to support her family because her husband an engineer hasn't been able to find a job. Keep wages low for entry level jobs, skilled jobs and unskilled jobs, tell our kids they need that college degree take out loans to do the same job that 10 years ago didn't require a college degree and now we are telling our children what college degree they should get in order to find a job, sooner or later those youngins who will work for less will be knocking at your bosses door. Because it is all about how much money the CEO's and businesses make... Don't get me started on the immigrant day workers who stand on one street in front of Home Depot to get picked up to work for the boss who doesn't want to have to pay taxes. Or how my sister had to kick out non English speaking workers because she couldn't explain to them what she needed done and their boss could not be reached. Or how I had to call my credit card company today and could barely understand a word she was saying. One way or another we all lose when the only thing that matters is big boss and how much bigger is his profit this year than it was last year.
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In fact, a LLC has to file quarterly if they're going to owe more than $500. That doesn't sound like paying "more than most people make in a year" in taxes. 
