Thinking about going into business for myself
Hadn't thought to factor in taxes
Is it really this bad?
it's not bad at all if you use old school accounting
Yeah, it isn't nearly progressive enough. They made an attempt though I guess.
Oh vey silly goyim don't forget about the 13.3% state income tax and 15% FICA!
Where's my complimentary hammer and sickle T-Shirt?
Bro self employment taxes in cali fuck me in the ass hard. 90-110k gross income turns into about 55-60k net if I'm lucky.
tfw run own trading company
tfw approved for mark-to-market
tfw I may be behind the next Enron
Do you get taxed on the gross or net?
I thought I had a hard enough time thinking about paying for the cost of materials and renting a business space; then there's taxes, which apparently get the biggest share.
that little tax
Anything over $58k/year in Sweden is taxed at 57%.
Can you open a business in another state, but live in Cali, and not pay Cali income tax? I mean that"s mot really practical because it's better to be able to be at the business to manage it but is it legally possible?
Taxed on the gross. Totals around 40% after state and SS taxes.
pretty much 98% of businesses are owned in Delaware for this exact reason.
the rest are in nevada for privacy reasons.
then yuo register as a foreign corporation doing business in cali, and pay the fee.
Can we NOT have another uninformed discussion about the "oppressiveness" of the U.S. tax system?
Protip: the Donald claims that the U.S. has the highest taxes in the world
Protip: we don't
Protip: if you thought we did and/or believed the Donald, kill yourself
So your actual headquarters is in Cali but you somehow get registered in Delaware? I'm interested.
um yeah standard Veeky Forums practice bro.
check out the taxation section videos on
don't buy the into the shills but look up the taxcode and court interpretations
and at least get the basics done.
I'm sure the set up a business for dummies book is online free.
Thanks dude, I'll look into this someday
I swear I feel like SS is increasing each year
Thanks user, this is good stuff.
someone has to feed the arabs and africans!
highest corporate taxes.
Random women better be walking up to you on the street and offering you a blowjob, to accept such egregious taxation to live there.
True but your public services are 100x better than ours. People who work in government there actually give a fuck, and the government healthcare is good.
The people who work in our government offices are like chimpanzees that have been given THC laced bananas.