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I don't think you meant to quote me...as thats been my point I have been making over and over. If youre employed the costs associated with it are paid by your employer-income that you could otherwise reasonably expect to receive as your total compensation....if you are self employed you pay it all.
I have done software engineering as a consultant for a couple years, and owned a small business as well. so yes I am familiar with it.
Do yourself a big favor and find a good CPA....not an account.
Everybody pays into social security, and businesses pay half of an employee's social security. A self employed person pays the entire amount (It's called "Self Employment Tax). Nobody escapes paying for Social Security.
I think your mixed up on taxes. Overall, the rich are paying more than you are.
LOL, being in the top 5% of personal income in the country....I can assure you im paying more by the absolute amount, but lower then as a %.
I'm not mixed up at all, im merely pointing out that too often outrageous claims are made about who pays what by cherry picking taxation data. The %'s arent as skewed as people make them out to be, especially given all the other taxes. focusing on the federal rate while ignoring everything else is in my opinion unwise.
Why would you expect to be paid the 'employer' part of the ss tax? This is not money that ever shows up on your check. It's paid by the employer, it is not the same as what is taken out of your check. The employer has to pay this tax on you for having you as an employee along with the portion that comes out of your paycheck.
Tell me something. if it costs X to employ someone that the COST to employ that person. Thats what they are worth. You are paying THAT.
If a employer provides health insurance, or if they dont MATTERS to me.
IF im offered a W-2 or a I-9 position, I take that into account.
I AM paid that differential. Thats the calculation I make when offered a I-9 or a W-2 position.
What makes you think I'd take 6.3% less and pay it myself?
From reading your posts obviously you were not very successful. You don't know the half of what successful people have to pay.
As a consultant, and as a engineer I've been extremely succesful.
As a small business owner...not as much. Sadly I will admit to that. It was a learning experience that I pulled the plug on when I determined that it wasn't going to make me as much money as focusing on my core skills.... I suspect next round will go better.
As a consultant, and as a engineer I've been extremely succesful.
As a small business owner...not as much. Sadly I will admit to that. It was a learning experience that I pulled the plug on when I determined that it wasn't going to make me as much money as focusing on my core skills.... I suspect next round will go better.
Hold it...
If you make good money as a consultant and engineer....you WANT to lose money in your small business.
Then you write off your loss against what the government has taken for taxes.....do it right and you will get all your money back.
If you're a consultant, than by definition you are pretty much a business, its a DBA in the eyes of the taxman..
consultant getting i-9's, I did that years ago, not today. Today im on a W-2. In some ways I liked that better, in others not so much. This is much steadier income without the bumps. Lot less freedom though. good and bad.
consultant getting i-9's, I did that years ago, not today. Today im on a W-2. In some ways I liked that better, in others not so much. This is much steadier income without the bumps. Lot less freedom though. good and bad.
yeah but I-9's give you greater ability to write off expenses..
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