They can volunteer at their own company if they want. The main thing is just being employed somewhere, and it doesn't even have to be with their own firm. And look, the law protects against competing with an employer. If someone works for an accounting firm while running their own private bookkeeping business on the side, that’s considered unfair market competition against their boss—which isn't exactly the smartest move. 😁
You’ve got the math all tangled up here. If you actually hire someone at a company, you're looking at a salary cost of roughly $1100, plus you have to factor in a 20% corporate tax rate 😉
It won't. I dealt with a similar headache recently. My only real issue was trying to register my business with the UN because my official records were still tied to my old address. Once I got that updated, everything went through smoothly that very same day.
Let’s try to stick to the topic here, folks. If you want to get into a deep dive about real estate, feel free to move that conversation over to the Real Estate Prices thread instead.
He could always just start his own company. The catch is he'll need proof of residency here in the States first. Plus, once the business is up and running, he’s going to need a work permit. Whether he’s acting as an employee or the founder, he still needs that permit because the law requires him to be officially employed.
I might start getting an ego if you two keep being this kind...😁
My take? I'd much rather have 100 clients paying $33 a month than one single client dropping $10,000 monthly... ... As for billing, I've always hated being hit with unexpected fees. If I have to pay extra for something, I'd much rather spread those costs out over the course of a year instead of facing a massive bill all at once... so, naturally, that's exactly how I handle my own clients...
Yeah, right... give it a few more days and you'll be insufferable. Right now, you're still playing the humble guy. 🙄
Timothy Morgan38 said:Look, this isn't meant to be an attack or anything... I have NEVER charged anyone anything extra...
Let's look at an example...
A sole proprietorship pays $333 (including tax) per month for bookkeeping services, and that covers the tax filings, all the forms, everything—reconciliations, payroll onboarding, terminations, filing with the IRS, Social Security, etc. (total annual cost $4.00)
A corporation pays $667 monthly, which includes everything similar to the sole proprietor, plus additional state filings, tax returns, reconciliations, and so on. Total annual cost—$8000
Some clients can't even be bothered to bring their own files, so I just throw that in as a courtesy too...
Maybe I'm an idiot for doing it this way—probably am...😕 Maybe I'll change my modus operandi eventually... 🤷 I should also mention that I handle all the federal forms, state filings, IP, ID-1, IP, all the payroll paperwork, termination notices, and all the filings for Medicare and so on.
Am I a moron?????
You aren't an idiot, you're just honest... which, let's be real, isn't much different in the long run. 😛 Since you're my favorite colleague, I have to mess with you a little. 😍
😘
James Bond 😲 Lost your way? Whatever, just drop by whenever you feel like it. 🙂
