Calif Bill wrote:

"Dan" wrote in message
...

Calif Bill wrote:


"Dan" wrote in message
...


Animal05 wrote:



Dan wrote:



Short Wave Sportfishing wrote:



On Fri, 12 Jan 2007 03:51:25 GMT, "Mike" wrote:




Funny how big business works. In my small business, I'm the LAST one
to get paid.




I've been working with a guy I've known for years - he started up a
mechanical engineering/machine shop that does custom fittings and
highly specialized machined parts for all kinds of industries. He has
some metallurgical expertise that's hard to find and some machinists
who are absolute geniuses with a CNC machine.

He pays himself $1 more than the highest paid employee he has.



The problem is that he is the business owner. I could pay myself $8.00
and hour but, at the end of the year, my personal income tax bill would
be well over $100K if I took my profit as retained earnings. He's
probably an S-corp, too so if he's profitable, the money has to go
somewhere.


There is a simple reason for this.

Wages are subject to FICA taxes up to around 95k a year, and there is no
limit to the Medicare Tax.

By taking a reasonable wage, and then taking the rest of business
profits as dividends, you legally avoid paying the addiontal taxes.



True, but then I would have to live on under $95K throughout the year and
take he rest as income in a lump sum.

--
Posted via a free Usenet account from http://www.teranews.com



quarterly dividends.

Still taxable income.

--
Posted via a free Usenet account from http://www.teranews.com



But is not medicare taxable or SS taxable. And depending on the dividend,
may get the preferred taxation rate.


SS taxable isn't a problem. That's gone by the third quarter. I'll
check into the lower tax rate.

Thanks

--
Posted via a free Usenet account from http://www.teranews.com

basskisser wrote:

Tim wrote:

basskisser wrote:

I challenge you to accept personal responsibility to be an on topic
poster here and not a leability to the newsgroup.

Yes, I imagine being a "leability" could be a bad thing.


Awe, how cute! Would you like me to point out each and every one of
your typos, too? You should really consider acting like an adult.


You should consider a spell checker and try new catch phrases. "Each
and every one" is old and inaccurate, Walter.

--
Posted via a free Usenet account from http://www.teranews.com

basskisser wrote:

JimH wrote:

"Tim" wrote in message
roups.com...

basskisser wrote:

Tim wrote:

basskisser wrote:

I challenge you to accept personal responsibility to be an on topic
poster here and not a leability to the newsgroup.

Yes, I imagine being a "leability" could be a bad thing.

Awe, how cute! Would you like me to point out each and every one of
your typos, too?

Many times you do. you accused me of not knowing how to type. Remember?
Maybe not.
But when typing "liability" the "I" is quite a ways away for "e"


Great minds think alike. I did not read your post before I posted mine.
;-)


Hoo, boy! I suppose you think you and Tim are just amazing minded
because you caught a typo.
Guess that tells the story in a nutshell.


Is "amazing minded" a Georgia term or just a huge typo?

--
Posted via a free Usenet account from http://www.teranews.com

JohnH wrote:

On 15 Jan 2007 09:40:16 -0800, "Tim" wrote:


basskisser wrote:

Tim wrote:

basskisser wrote:

Tim wrote:

basskisser wrote:

I challenge you to accept personal responsibility to be an on topic
poster here and not a leability to the newsgroup.

Yes, I imagine being a "leability" could be a bad thing.

Awe, how cute! Would you like me to point out each and every one of
your typos, too?

Many times you do. you accused me of not knowing how to type. Remember?
Maybe not.
But when typing "liability" the "I" is quite a ways away for "e"


Uh, no. YOU said you couldn't type.

Wrong again!

I said I wasn't a good typist.


Please don't join the list of basskisser agitators!
--
******************************************
***** Have a super day! *****
******************************************

John H

Ever wonder why there is a (growing) list? Maybe the source of the
problem will finally give up and leave.

--
Posted via a free Usenet account from http://www.teranews.com

JimH wrote:

"Tim" wrote in message
ups.com...

JohnH wrote:

Please don't join the list of basskisser agitators!
--
******************************************
***** Have a super day! *****
******************************************

John H

John, m'man. I have no intentions of it. I don't threaten people and
cuss them out and attempt to belittle their mental capabilities. Even
though I know they may be a lot smarter than me.

OH! you said "agitators" .....

ok



It is funny how some choose to put the blame on others and not the person
who cannot control himself and fills this NG with threats, insults and
nastiness.



And libel. Stay tuned - he can't get away with that for long.

--
Posted via a free Usenet account from http://www.teranews.com

Dan wrote:

basskisser wrote:

Tim wrote:

basskisser wrote:

I challenge you to accept personal responsibility to be an on topic
poster here and not a leability to the newsgroup.


Yes, I imagine being a "leability" could be a bad thing.



Awe, how cute! Would you like me to point out each and every one of
your typos, too? You should really consider acting like an adult.


You should consider a spell checker and try new catch phrases. "Each
and every one" is old and inaccurate, Walter.


And kevin wonders why he is the "king of the NG idiots"

JohnH wrote:

On Mon, 15 Jan 2007 21:25:32 GMT, "Don White"
wrote:


"JohnH" wrote in message
. ..

My gosh, Don. That is an excellent suggestion! Do I note a change in your
attitude here?
--
******************************************
***** Have a super day! *****
******************************************

John H


Never was a problem with my attitude.
I'm just trying to point out the hypocrisy here, the truly disruptive and
the worst of the unseemly.
You claim to do somewhat the same (clean up the newsgroup) but are much too
selective in who you focus on.
Obviously your plan doesn't work.



Never fear, Don, no one took you very seriously!

LOL!
--
******************************************
***** Have a super day! *****
******************************************

John H

Too bad donny is pointing in the wrong direction.

This month's top posters

228 basskisser
176
144
143
134
116
112
83
83 Chuck Gould
77

JimH wrote:

"basskisser" wrote in message
ps.com...

JimH wrote:

"basskisser" wrote in message
groups.com...

JimH wrote:

"basskisser" wrote in message
glegroups.com...

Tim wrote:

basskisser wrote:

I challenge you to accept personal responsibility to be an on
topic
poster here and not a leability to the newsgroup.

Yes, I imagine being a "leability" could be a bad thing.

Awe, how cute! Would you like me to point out each and every one of
your typos, too? You should really consider acting like an adult.


Didn't you recently jump on someone here for their misspelling of a
word?

Yes. It was clearly misspelled, not a typo.

If I recall the letter "'e" was used instead of the letter "u". When
the
person claimed it was a typo you jumped on him saying that it wasn't
as
the
keys were not next to or near each other.

The person claimed to be a hunt and peck typist. If you "hunt" for the
letter, how could you get u and e mixed up, Jim?

Last I checked the "e" and the "i" are separated by 4 other
letters....even
more apart then "e" and "u".

So is yours a typo but the other guys was not one?

Just curious.

Yes, mine is clearly a typo. Since I don't hunt and peck, it's very
possible that each hand has it's correct digit on the i and e keys at
the same time. Thank you for your curiosity, and I hope I've cleared
things up for you.


ROTF!! Why am I not surprised?

Probably because you know, as usual that you are wrong. I thought you
had me killfiled? Please do so again, your childish bull**** does
nothing for me. But, at least you've got one friend here. It's now you
and Tim. Reach around, boys.



LOL!!!


Do you think kevin will ever wake up and realize what an ass he makes of
himself on a daily basis?

"Dan" wrote in message
...
Calif Bill wrote:

"Dan" wrote in message
...

Calif Bill wrote:


"Dan" wrote in message
m...


Animal05 wrote:



Dan wrote:



Short Wave Sportfishing wrote:



On Fri, 12 Jan 2007 03:51:25 GMT, "Mike" wrote:




Funny how big business works. In my small business, I'm the LAST
one to get paid.




I've been working with a guy I've known for years - he started up a
mechanical engineering/machine shop that does custom fittings and
highly specialized machined parts for all kinds of industries. He
has
some metallurgical expertise that's hard to find and some machinists
who are absolute geniuses with a CNC machine.

He pays himself $1 more than the highest paid employee he has.



The problem is that he is the business owner. I could pay myself
$8.00 and hour but, at the end of the year, my personal income tax
bill would be well over $100K if I took my profit as retained
earnings. He's probably an S-corp, too so if he's profitable, the
money has to go somewhere.


There is a simple reason for this.

Wages are subject to FICA taxes up to around 95k a year, and there is
no limit to the Medicare Tax.

By taking a reasonable wage, and then taking the rest of business
profits as dividends, you legally avoid paying the addiontal taxes.



True, but then I would have to live on under $95K throughout the year
and take he rest as income in a lump sum.

--
Posted via a free Usenet account from http://www.teranews.com



quarterly dividends.

Still taxable income.

--
Posted via a free Usenet account from http://www.teranews.com



But is not medicare taxable or SS taxable. And depending on the
dividend, may get the preferred taxation rate.
SS taxable isn't a problem. That's gone by the third quarter. I'll check
into the lower tax rate.

Thanks

--
Posted via a free Usenet account from http://www.teranews.com


The medicare tax is a problem sometimes.

JimH wrote:
"Tim" wrote in message
ups.com...

JohnH wrote:
Please don't join the list of basskisser agitators!
--
******************************************
***** Have a super day! *****
******************************************

John H

John, m'man. I have no intentions of it. I don't threaten people and
cuss them out and attempt to belittle their mental capabilities. Even
though I know they may be a lot smarter than me.

OH! you said "agitators" .....

ok


It is funny how some choose to put the blame on others and not the person
who cannot control himself and fills this NG with threats, insults and
nastiness.

Jim, do you mean nastiness like telling lies about someone? Do you mean
telling untrue and nasty allegations about someone's children and wife?
Do you mean accusing someone of committing crimes without any knowledge
of such? Do you mean accusing my children of taking illegal drugs?