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Plumber Manhattan Beach
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828 Posts
Discussion Starter #1
Ok guy's, so I am wondering how everyone pays themselves?

I write myself a check weekly for a salary amount, and then pay quaterlies to the fed's.

Do you do the same? I am interested in adding myself to payroll and paying taxes every week. This way I get a W-2 and show work and income history. I will pay more monthly in taxes if I do this.

What do you guys think? Payroll ?
 

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1,880 Posts
I get paid once a month . Use Bank of America payroll services ( no charge if you have an account ) BEST thing ever did !! They take care of all the payroll tax stuff online !!

Try it at your bank ,,,,, worry free !!!

cal
 

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Plumber Manhattan Beach
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828 Posts
Discussion Starter #4
I get paid once a month . Use Bank of America payroll services ( no charge if you have an account ) BEST thing ever did !! They take care of all the payroll tax stuff online !!

Try it at your bank ,,,,, worry free !!!

cal
with bank of america, do they make the payments also, as far as the tax payments to the state and feds, etc?? Or do I still have to write checks?


thanks
 

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Former Moderator
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9,817 Posts
Robert - Payroll is fairly easy with Quickbooks. Quickbooks generates the 941 for me and I use the payroll reports for State Withholding & Unemployment Insurance.

What I don't understand is why your tax liability is more if you go on the payroll vs. writing a check as salary?
 

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You need to pay all the tax you can.

I write my self a paycheck with tax deductions every week just like an employee. I also write my wife a paycheck and tax her every week. We need to show maximum income so we can get loans when we want to buy real estate.

This reminds me of the movie Bugsy Malone when the Jews were talking about how the Italians did not pay taxes and they put all their money under their carpets. It is my understanding that the Italians originally had most of the control in Las Vegas during its early years. Since the Jews paid taxes, on all their money, when the Jews wanted to expand they had legitimate records they could take to a bank to get loans. Eventually, the Jews controlled most of Las Vegas.

Many people consider paying taxes a privelege. I don't quite understand what the word 'privelege' means in this statement.
 

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with bank of america, do they make the payments also, as far as the tax payments to the state and feds, etc?? Or do I still have to write checks?


thanks
THEY DO IT FOR YOU !!! You just approve it ,,,, then export it to Quickbooks keeping all the records nice and tiddy :)

I am "paper work challenged " this had made my life SO easy !!

Cal
 

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Plumber Manhattan Beach
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828 Posts
Discussion Starter #9
I was going to us this company, it came highly recommended.

www.surepayroll.com

as far as the additional taxes, I guess my accountant said I will end up paying more either monthly, or more at the end of the year.

what do you guys think about surepayroll??
 

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Drain Cleaning Specialist
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2,076 Posts
OMG you guy's get paid?

I always seem to make enough to cover the bills but fall sort on the extra calls I need to make a profit on. I Need to realy leave this area.
 

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Plumber Manhattan Beach
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828 Posts
Discussion Starter #11
OMG you guy's get paid?

I always seem to make enough to cover the bills but fall sort on the extra calls I need to make a profit on. I Need to realy leave this area.

Ummm, maybe your not charging enough?? There is no reason to suffer like that.



:no:
 

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Ummm, maybe your not charging enough?? There is no reason to suffer like that.



:no:
Its not that easy to do when you live in small rural areas like unclog and I do. where every other person you meet is a handy man or hack with a push tape snake. Or a franchise like roto something or other that charges 65 dollars to run a spear head thru the line and say your sewer is open. Then when they call you to come back and cut all the roots out with a root cutter and then run your camera thru to make sure you got all the roots out and check for other obstuctions and charge them 250.00 dollars then word gets around that you charge to much. Who are the ho's going to call? they are going to call the guy who charges 65 dollars and does a half a** job. Or they call the bigger companies that come in with thier pitch men with thier calvin klein jeans and tommy hilfiger shirts telling you that you have a bad sewer and you need to replace it. they figure you are just a one man operation who charges too much even though you do the job as it should be done.
 

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Plumber Manhattan Beach
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828 Posts
Discussion Starter #14
Its not that easy to do when you live in small rural areas like unclog and I do. where every other person you meet is a handy man or hack with a push tape snake. Or a franchise like roto something or other that charges 65 dollars to run a spear head thru the line and say your sewer is open. Then when they call you to come back and cut all the roots out with a root cutter and then run your camera thru to make sure you got all the roots out and check for other obstuctions and charge them 250.00 dollars then word gets around that you charge to much. Who are the ho's going to call? they are going to call the guy who charges 65 dollars and does a half a** job. Or they call the bigger companies that come in with thier pitch men with thier calvin klein jeans and tommy hilfiger shirts telling you that you have a bad sewer and you need to replace it. they figure you are just a one man operation who charges too much even though you do the job as it should be done.

That really sucks! Lucky we have alot of people here, but I still see a very large amount of hacks. The other thing is the DIY shows, that station should be blown off the air!! Yesterday, there was this show, Hand me $10,000, the owner recieved 3 estiamtes, then DIY network sentt heir l;icensed contractor in to do the job for 10,000 less, he was disconnecting the sink, he said, "don't pay a plumber, all he is going ot do is put a bucket under the sink and charge you for it, just like I am doing now"

I almost fell off the couch!!

Really really sucks, what is happening to this trade!!

We just have ot see what happens.....:cry:
 

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Drain Cleaning Specialist
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2,076 Posts
Can't possibly charge any more would put me up there with RR failing and Ben who closed just need a few more calls a month. I honesty think if this area were more populated with the ad space and listing I got here I would be doing a lot better.

My ad sizes up here even my half page size would get lost down the city way. Drowned out by the big guys.

If I did not start here I could not have started at all. So I'm lucky to still be in business. I would have been eaten alive in the city. Being a self funded start up could not compete with the big guys. Down in the Boston Area, Its come full page or 2 or stay home. On the other hand the Big guy's cant survive up here Ben Frank closed and RR is failing. I just need a few more calls a month to profit. Hard to make money with the DIY, Handy Hacks, out there. It is a shame now with Depot and Lowes on every corner everone's a plumber now.
 
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