Wow, I just realized how often I actually make tax payments throughout the year with being a pet sitting business owner! Or to be more specific, with being a business owner with employees since I choose to not take the “easy” way out trying to run my biz with Independent Contractors to save some bucks.
It’s a whooping 20 times!!
12 x 941 Federal Income Tax
4 x 940 Federal Unemployment Tax
4 x TWC State Unemployment Tax
and now I got reassessed by the TX State Comptroller to pay/do my sales tax return quarterly instead of annually, so I add
4 x THAT to the mix.
Oh… but hold on, that’s “just” the biz part. I can’t forget about my own tax obligation, I’m also required to make quarterly Estimated tax payments. So adding another 4 tax payments
= Grand total: 24 times!!
No, I’m not complaining.
It is what it is and I just came to realize these numbers. But it is definitely something which “outsiders” are not seeing when I get phone calls just asking for our prices and then even some being ticked off at me how “expensive” our rates would be.
I agree 🙂 It is expensive….. to run a business the correct way in the means of paying employee wages and meeting obligations like employment taxes, unemployment taxes and personal taxes to give the government it’s share and to be part of the society and social system.
It all boils down to the greater picture!
So these “high” rates for pet sitting as some rant about, even may at some point pay social benefits to exactly those folks when they should ever have the need for it like food stamps or welfare and don’t let us forget about our great soldiers, they too are paid by all of us, the tax payers.
With that in mind, I don’t feel all so bad when I yet make #19 of my 24 tax payments throughout the year 😉
PS: I LOVE LOVE LOVE my CPA, John Lister INC., P.C. in Copperas Cove, TX and especially Janice at my CPA’s office for keeping track of all those due dates and deadlines for me, you rock!