Death and taxes

Any of you guys ever contracted? Were you responsible for your own expenses and taxes ? Did good 'ol Uncle Sam take a big, juicy bite out of your posterior every year ? He's always gotten roughly a third of my hard- earned money. Funny thing is, I never saw him on the job. When I was hanging 40 feet up a rotten pole in the middle of the woods in the mountains and dropped a tool, he wasn't there to throw it back up to me. Had to climb my creaky ass back down to get it and then back up to finish the job. I know about the benefeits. He keeps me safe from the Forces of Evil. He keeps some fine Bros. like Orrelse, Sam75, and HB Bill in a job. He does other fine things, I'm sure, like keep me from being able to distill alcohol in the comfort of my own home. Probably protects me from myself in that way. This is my last year of dealing with taxes from contracting. We're on the Extension plan. Good riddance, I say ! No more self employment tax. ..........

Sorry guys... That was more of a rant than a mumble. Did kinda ramble though, huh ?

sudsmonkey said:

Any of you guys ever contracted?

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I've been doing it for 13 years...uncle gets twice the bite out of my butt every year. What's this extension plan you speak of? (if you need to sober up and post somewhere else, please wait till tomorrow...I don't want to ruin your buzz, or mine).

Whoa, don't go gettin me fired up about that SOB with the gun in my face tellin me how he knows what's best for me. Oh , Yeah , he let's me brew 100-200 gals of beer a year without a hitch but dare I sell it to somebody. So, Unca Sam what if I don't like payin your tax anymore, what if I feel it's gone over the top to the point where your are now stealing my livelyhood. Oh, I'm sorry, you know what's best for me so shutup , payup, or we will use reasonable force . Damn, and I haven't even started. How about a flat tax and make it easy and fair amongst men. Fat f*ck*ng chance. No, too many governmenat jobs at stake to talk that rhetoric.... arrrrrrrrgggg!

El Pistolero said:

I've been doing it for 13 years...uncle gets twice the bite out of my butt every year. What's this extension plan you speak of? (if you need to sober up and post somewhere else, please wait till tomorrow...I don't want to ruin your buzz, or mine).

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Whoops! Sorry El. P.

El Pistolero said:

I've been doing it for 13 years...uncle gets twice the bite out of my butt every year. What's this extension plan you speak of? (if you need to sober up and post somewhere else, please wait till tomorrow...I don't want to ruin your buzz, or mine).

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Don't see any likelyhood of losing this buzz before tomorrow. They like for you to make quarterly payments, but won't lock you up if you don't. Send them an extension request form on April 15th , and they'll let you know if you get it. Wait anyway, and they just make you pay a penalty . If you're already on a long-term payment plan with them, you'll never notice the difference. BTW, I think it is a damn shame that they tax Professional Psychics !

Sudster said:

Whoa, don't go gettin me fired up about that SOB with the gun in my face tellin me how he knows what's best for me. Oh , Yeah , he let's me brew 100-200 gals of beer a year without a hitch but dare I sell it to somebody. So, Unca Sam what if I don't like payin your tax anymore, what if I feel it's gone over the top to the point where your are now stealing my livelyhood. Oh, I'm sorry, you know what's best for me so shutup , payup, or we will use reasonable force . Damn, and I haven't even started. How about a flat tax and make it easy and fair amongst men. Fat f*ck*ng chance. No, too many governmenat jobs at stake to talk that rhetoric.... arrrrrrrrgggg!

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Careful, now. Don't want people thinking you're a beer drinking, peace lovin',freak flag flyin', Dixie Chicks fan , or anything ! My country, right or wrong ! Love it or leave it ! And other patriotic BS. I agree with you on the flat tax. The guy that makes 10K/yr would lose just as big a hunk of his ass as tha guy who makes 100K/yr. , proportionately. Might cost the little guy a couple of weeks' groceries, and the big guy a new car. Both are important.

sudsmonkey said:

BTW, I think it is a damn shame that they tax Professional Psychics !

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Well if I could just get on permanent somewhere...but the PPN just isn't what it used to be. This telling the future on a contract basis is just the $hits.

Sudster said:

How about a flat tax and make it easy and fair amongst men.

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Screw that flat tax...what we need is a fat tax! Well, no, wait...maybe that wouldn't work out for me all that well.

How about a Sudsbrothers tax ? If every wage earner in the US and its protectorates sent us just 1% of their gross annual income( OK, just .01%) life would be much better and much less complicated for three deserving brewmeister/ brewdrinkers ! Maybe we could write a letter, or something ? Uncle Sam spends money on stranger things !

Knew a guy once who didn't file for three years. Did you know that was a crime ? He told the judge that he didn't like the way they were spending his money. Good answer, but they still got him.

sudsmonkey said:

How about a Sudsbrothers tax ? If every wage earner in the US and its protectorates sent us just 1% of their gross annual income( OK, just .01%) life would be much better and much less complicated for three deserving brewmeister/ brewdrinkers ! Maybe we could write a letter, or something ? Uncle Sam spends money on stranger things !

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I'm not sure if we could make that fly, but I bet we could get a $100M grant to restore the brewing infrastructure in New Orleans. I suggest we incorporate and call ourselves Halliburton HB, Inc.

EL. P. you are a genius. Let's roll.

I'm in ! Let's get Yeastivus from the Heineken ad , to be our poster drunk !

All it'l take is a couple cases of Homebrew and a week in the Hilton.

They got a pool tjere? we'd need somewhere to cool the wort.

Gotta go to bed, guys. Beucoup F'ed up and I got the new pop- up book from the library today. It's a Halloween one . I'm scared already ! I'll let you know how it turns out.

Nitey night, monkey.

Nite John Boy!

Monkey-( Reeling, yawning and rubbing a sleepy eye) Goodnight, Senors.

sudsmonkey said:

They got a pool tjere? we'd need somewhere to cool the wort.

Gotta go to bed, guys. Beucoup F'ed up and I got the new pop- up book from the library today. It's a Halloween one . I'm scared already ! I'll let you know how it turns out.

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looks like I missed the party....THe Hilton in N.O. had 2 pools- I stayed there in April/May of this year.

I did contracting for decades. Hated all of the bookkeeping needed to hold onto a few pennies of the take. I didn't just have Uncle Sap in my pocket, as I was doing this in California. The franchise tax board is worst than the IRS, hands down!

But it's worse in retail. My business partner was in audio retail for 15 years and most years just the sales taxes exceeded their net! Then they paid state & federal income taxes and self-employment taxes. Fortunately, many of their customers had paid cash in small unmarked bills. It kept them afloat.

david_42 said:

The franchise tax board is worst than the IRS, hands down!

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ANy idea how I can get me one of those income tax franchises? Seems like a guaranteed way to make some money.

-walker

Forget Uncle Sam, be glad you don't deal with Uncle Sven. I was speaking with a Swedish colleague recently who went from being a permanent employee to a contractor and, while it resulted in a higher salary, it also resulted in his effective tax rate going from 50% to 70% (income tax + his private business tax).