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Taxes Suck
July 22nd, 2006 by Jonathan Waraas


Its true. I wish I was wrong, but its true. The saying “Everyone works 2 months out of the year for the IRS” is true. It sucks when you make a lot of money, and 2 months of your hard work goes to the government. Ive read books that say that true business men don’t pay that much in taxes. But I can not figure out how to pay so less? Put all my money into a 401k and then its all a write off?? haha

Well anyways I went and talked with my accountant yesterday. I asked him to get me a forecast for this year so far so I can see where im at. He gave me an estimate that I will be in the 35% tax range when everything is over and wrote off :(

But I talked with him and he gave me a lot of good ideas where to put my money….

So some money into a 401k….

Buy a house, use the mortgage interest rate as a write off….

And he gave me a business card to a personal investor….

Sounds good ehh? haha

Well I bought another book and I’m reading it, trying to think of more ways to cut taxes down. The book is “INC. & Grow Rich”

I have also been reading “Rich Dad Poor dad”, I don’t like it. Its just a motivating book with no info on anything. And the book is fiction…not real… lying…. look the book up on Google ;)

In other news, I am still hiring for a web designer for my team. I am looking to have 2 designers and 2 coders that work for me on a freelance basis. So I can get more work done, since I am a web developing company. hehe

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7 Comments

Comment by Tyler
2006-07-23 02:13:00

If you’re making $100,000+ a year you should look into incorporating into a LLC. Huge tax cuts there.

 
Comment by Jonathan Waraas
2006-07-23 02:14:00

This post has been removed by the author.

 
Comment by Jonathan Waraas
2006-07-23 02:19:00

My company is Developer Hut, Inc.

Its incoporated so I save even more money than a LLC.

What happens is that my company is completly seperated from my personal. My company pays money on what it makes, which will be about 25%

Then I will pay the IRS what I make from my salary from the company. I give myself about 2k a month. I will be paying about 7% via a w2…

 
Comment by Seemour
2006-07-30 18:36:00

find out about taxes…. read the 26th amendment to the constitution..

 
Comment by Jonathan Waraas
2006-07-30 19:39:00

Please explain…

 
Comment by Jonathan Waraas
2006-07-30 21:59:00

This post has been removed by the author.

 
Comment by Online Casino Blog
2007-11-14 17:50:14

Taxes are a pretty crazy thing…

“Be wary of strong drink. It can make you shoot at tax collectors… and miss.” ~Robert Heinlein

 

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