I just did my taxes today. I paid $160,417.26 to the US government in 2006. In addition, I paid $8,586.88 in miscellaneous Colorado state taxes. That's enough to turn someone republican!
- $160,417.26
mudcub- April 2nd, 2007
I just did my taxes today. I paid $160,417.26 to the US government in 2006. In addition, I paid $8,586.88 in miscellaneous Colorado state taxes. That's enough to turn someone republican!
I was just sitting at my desk running some numbers for my business and feeling self conscious about how big they were. But your number makes my number feel very small. ;-)
Been looking at your interests and web page. We have some interesting things in common. Ever get out to SF?
I love Mr. S and the Lone Star Saloon. I'm currently craving a hot fudge sundae at Ghiradelli square. A Different Light. I love Chinatown (where I find the cheapest hotels to stay in). IBR. Italian food in the North Beach area. SFMOMA. I even like Fisherman's Wharf and the touristy things like riding the trolley. Folsom and Dore and Harrison fairs. Grr, I need a vacation. See you in California soon!
"In San Francisco, a typical single-family home now runs about $713,000, up a stunning 23 percent"
(http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2005/02/16/MNGOLBBO691.DTL)
Two bedroom condos for over a million? $5,000 a month just for *rent*? 750 square feet is a huge apartment? Two hour commutes to outlying bedroom commmunities one way? You guys in California are crazy...
I'm sure glad we bought a house when we could. Here in the Bay Area, what people did in the early 90s completely determined their fate for the rest of their lives. Owners and renters are now facing entirely different futures. It's kind of hard to watch.
The problem with looking at SF from the outside is not seeing that wages match that high price tag.
Years ago I sweep floors at night at a bar for $15 and hour PLUS medical, etc. Thats non-union thank you.
You may not be able to have a big house and a big yard. But, even the very wealthy here forego that in order to live in the City.
It's worth it to me, because the men here are generally the piggiest I've seen anywhere. I went from being something of a freak elsewhere to just being minorly interesting here. :)
If you visit the City, I wanna fucking meet you face to face! Or face to something.
Had it not been for your tax dollars, I probably would have ended it all, since the pain was so severe...
flashback
Out of context that number is virtually meaningless. But, remember that we have the lowest rate of taxation in the First World, by a third, at least.
Your CPA should be able to tell you which is going to work best for your business.
You do have a CPA on tap, yes? If not, I highly recommend doing so. My CPA saved me from making some wickedly stupid mistakes my first three or four years in business.
It's a pain in the ass (at best) to change corporation types once you've incorporated. You may also want to incorporate in a state OTHER than California, for tax and/or liability purposes. (For example, will your liability insurance be cheaper if you're incorporated in Delaware, Nevada, or Texas?)
Given the variables, I suggest it's worth considering spending the money to consult either a CPA or a tax lawyer to ensure that you're setting up the best form of corporation for your company's desired outcome. :)
Turn away from the dark side, Luke!
I'm still waiting for my accountant to churn the numbers.