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Posts by Kevin Patel6

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The big shot said:says:
you can always play it straight, it’s just that most people want their yacht and summer house in the first year of business.
work at it for 5-10 years and maybe you'll get somewhere.
we all saw those guys who got rich overnight during wartime, so everyone wants a piece of that action.

This is spot on and you are absolutely right! It isn't Linic's fault, nor is it anyone else's—it's the system itself that's been running since this country was founded: 200 wealthy families, wartime privatization, the destruction of manufacturing, the failure to implement structural reforms, the public sector mess, shrinking workforce versus a growing "retiree" class, buying social peace, the lack of actual foreign investment, and an obsession with imports!
Where in the world do you find people who have held massive wealth for over a decade while still owing every kind of obligation to the government and the banks! We, the "hardworking little people," are the ones stuck footing the bill!
Folks, the money is gone, our national debt is expensive, and production is tanking! Once we open up an "island" for those who made millions through shady deals, laid off hundreds of workers, and drove companies into bankruptcy, then maybe we can expect a better tomorrow!
Unfortunately, we all turned into a "consumer society" overnight based on someone else's money (credit cards, loans), spending way more than we actually produce!
Why did Al Capone fall? Because of simple tax evasion! Well, we pay our taxes to our government, yet we still turn around and demand transfers from them!
I honestly don't understand where all that huge influx of cash from our successful tourism industry ends up, especially since we have beautiful coasts and safety compared to those exotic countries.
Starting a small business in Business, Accounting & Taxes ·
Everything you guys are saying is spot on. The Social Security Administration and the IRS know exactly what’s going on with your contributions if you’re running a sole proprietorship while working another job. Just like Lily said, those taxes are settled based on your year-end tax return—it's all calculated at the end. It feels pretty stupid, honestly, because you've got your employer paying in, plus you're doing it yourself. When I talked to the folks at the IRS, they told me my Social Security benefits would be much higher later on!
MY ADVICE: "Set up a flat-rate contract for the work you do through your own company," start a sole proprietorship, and just pay your own contributions!
Beyond the contributions, don't forget about the significant tax breaks and how they affect your income tax!
Any decent accountant who handles small businesses knows exactly how this works!
Just one more thing—if you aren't officially registered as an employee of your own sole proprietorship, you can't claim things like travel reimbursements for business activities as expenses until after you've paid your taxes!