Posts by northernbear16

Anthony Chavez6 said:Step inside, let me give you a real-world example—I’m currently running my own small business while on maternity leave. The kicker is that these benefit payments have absolutely nothing to do with what you actually earn; instead, they are based on the monthly taxable income base that the government sets for you at the start of the year. This rarely works in your favor—it's great when you're trying to keep your tax contributions low, but it's incredibly frustrating when you're actually relying on things like disability pay or maternity benefits.🙄

I guess it depends, though—was your business seasonal or did you run it year-round? If it was just for six months, how do they even calculate the maternity amount? I mean, if we're talking about maternity leave specifically, what's the smartest move here? Should I just opt to pay higher taxes/contributions now to cover myself later?

Amanda Gonzalez4 said:Greetings to everyone, I am also in the process of launching a seasonal small business similar to yours, and my primary concern at this stage is whether I am legally required to hire any employees; since I already hold another full-time position, I intend to manage this venture in parallel entirely on my own without hiring a single staff member

Yes, I believe you can work entirely on your own and just handle your own tax contributions...
though I am wondering about one thing... if you already have a full-time job elsewhere, they are already handling your payroll taxes, right? So, maybe you wouldn't have to pay those exact same things again... It seems fine to cover other costs, like Chamber of Commerce fees or specific local business taxes, but paying the same social security twice seems unlikely...

mistylynx5 said:As far as I can tell, nothing has actually been lowered. Starting next year, rates are going up to $574 across the board—pension, health, workers' comp, you name it. Then there’s the Chamber of Commerce fee, which sits at $88 every quarter plus an extra 0.40% of your income. And don't even get me started on the annual overhead: corporate taxes, local tourism levies, historical preservation fees, tax prep advances...

I suspect those costs apply to full corporations rather than sole proprietorships, let alone seasonal work...

But how are you planning to handle the costs? $833Between health insurance and Social Security, plus everything else... I heard it could be anywhere from $1,400 to $1,700. A friend mentioned it used to be closer to $1,700, though maybe they lowered it slightly to $1,400 recently.
Also, if you apply to the unemployment office afterward, you might not qualify for benefits, or at least that period won't count toward your eligibility. It counts toward your retirement, sure, but not for unemployment... or for example, maternity leave wouldn't factor into the average calculation for women.
It’s just a complete mess...
Anyway, let me know, and thanks.
☕☕

Thanks so much... I was honestly starting to think I was just being some kind of weirdo...

I don't actually need a medical certificate, since I work in the tourism industry...

Some colleagues mentioned that when you register your LLC, you should list as many business activities as possible under your scope of work. Basically, don't just stick to what you plan on doing right now—include everything you can think of. That way, if you decide to expand your services in a couple of years, you won't be stuck paying all those filing fees all over again just because of some minor technicality...👍👍

Also, they told me that while you should indicate the nature of the business in the official name, it’s probably better to keep it short. For example, maybe just "LPF... Tourism Services." Keeping it brief makes life easier because you'll have to write that out for every single signature, and it's cheaper to get custom rubber stamps made if the text isn't massive.😁 😁..

Anyway, I'm still just gathering info... feel free to reach out again... POZZZZZ.

I’m looking for some guidance and advice from anyone who has experience running a seasonal business.

I'm planning to launch a seasonal venture where I'll be working solo. I realize I'll have to cover my own Social Security, Medicare, and a few other "small" monthly overheads, which I estimate will land somewhere between $1,400 and $567. I also know there are various local chamber fees and miscellaneous costs to consider, though I'm not quite sure what those look like yet. My projected revenue won't exceed $85 $0.00, so I don't plan on registering for Sales Tax.
I have a few specific questions:

- Is it necessary to hire a professional accountant, or could I perhaps handle the bookkeeping myself or through an acquaintance?
- What kind of expenses can I typically write off? I assume things like travel, phone bills, and mobile service would count,
but I'd love more detail. - How is the final tax liability actually calculated at the end of the year?
- Are there any other taxes, fees, or hidden costs I should be factoring into my budget?

Thanks so much for any help you can provide.