I genuinely did not expect them to respond to this:
This was so beyond ridiculous that I debated posting it. I wasn't sure if people would believe it or not.
this post was submitted on 16 Mar 2024
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chapotraphouse
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"I did without a paycheck for 7 years"
because you just didn't pay yourself and counted everything you paid into the business as a loss, so you just didn't have to pay taxes, you just had to pull out enough of your pre-tax income to pay your utilities
I made an LLC for my husband's hobby of repairing mowers that then became our sole income, and it has taught me a lot about how much these fuckers can claim against their income to diminish their tax obligations. The way the system is rigged against anyone who doesn't own a business - all of the poor fuckers deducting their expenses from their post-tax income - is ridiculous.
It was $100 to file for an LLC in Ohio. Idk how much it is in your state, but maybe you should consider it
we're very busy, and people keep asking when we will hire employees, and I keep telling them FUCKING NEVER
what, just because I lucked into having a home with a garage and some disposable income to throw at tools start this thing, then I should bring in some other poor fuckers with less opportunity and income and take advantage of them???
what the actual fuck is wrong with people
Okay, but when will you hire employees?
Fucking never?! If somebody desperately wanted to service tractors and mowers with us, we'd make them part owner.
I just can't see profiting off somebody else's labor?? I didn't earn the luck that enabled us to keep tools and parts when we had to abruptly move, shit just happens.
It just doesn't seem fair to tell somebody who can do the job just as well that they deserve less money for their time just because our chips fell differently. I genuinely don't understand how anybody is okay with that.
If you really needed help you could hire someone who’s willing to learn, pay them decently, then once you feel they’ve learned enough ask them if they’d like to be a partner. That seems fair to me personally since you’re giving them a free education.
And we’ve circled back to apprenticeships!
Sort of, this is pretty much how it’s done in the trades except for the becoming a partner part. That part is replaced by starting your own business and becoming a small business tyrant in our timeline.
Yeah, I was thinking about euro cottage industry apprentices like ye old village blacksmith
loony lefty millennials refusing to create jobs, thus destroying the economy
smh
You should see what landlords can deduct. They can basically go 10 years with artificial losses and never pay taxes on rental income
And then I bet they just make a new LLC to buy all the assets of the old one and reset the 10 year timer
That’s what independent contractors do. They flush all income through it then deduct all car mileage and miscellaneous expenses through it and “pay” themselves a meager wage from that income. The LLC or S-corp shows paper losses and since it is a flow-through entity they get to deduct those losses on their personal income taxes