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Henry Edwards33 said:It’s not about vaccines. Just look at your total earnings since you first signed up and enjoy the view. Don't sweat it 😉
I really feel like now isn't the time to go playing by the book and paying extra fees 🙂 . I mean, honestly, the amount for those small-business payroll taxes for just a few days probably won't break the bank compared to a massive IRS penalty, but still, if I can avoid it, I’m going to try... I'm really trying to scrape together every little bit of cash I can because, you know how it goes, there's always some unexpected expense popping up, like needing to pay for a subscription to an accounting journal or finally getting a reliable landline set up for the office... there is always something else 🙂
Hey there, fellow tax enthusiasts, I’ve got a bit of a situation on my hands and could really use some wisdom! 🙂
So, I finally got my LLC officially up and running, and earlier today, while I was filling out all the paperwork for my sales tax registration with the IRS, I went ahead and entered the date the business actually became active—which was November 7, 2011, the day it was registered with the Secretary of State. I wasn't really thinking twice about it at the time, just moving through the forms, you know? But then it hit me...
I also signed an employment contract with myself (yeah, the joys of being the boss!), and that one is set to start on November 14, 2011.
Since I’m currently listed as unemployed with the state unemployment office, I’m scratching my head over the math here... do I need to calculate self-employment taxes on a "draw" or owner's salary for that little gap between November 7th and the 13th, and then switch over to paying standard payroll taxes based on my actual gross salary from the 14th onwards once the contract kicks in? Just trying to figure out how to handle this tiny little window of time without making a mess of things.
Thanks so much for any help!