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Article #213Re: By the numbers: Who Wins, Who Loses
From: gamer
Date: Sun, 05 Nov 2006 23:51
Date: Sun, 05 Nov 2006 23:51
56 lines
3556 bytes
3556 bytes
ChairMan wrote: >In news:xBk3h.19695$Fi1.16484@bgtnsc05-news.ops.worldnet.att.net, >aemeijers@att.net <aemeijers@att.net>spewed forth: > > >>"ChairMan" <why4@fu.com> wrote in message >>news:454d8378$0$2912$9a6e19ea@unlimited.newshosting.com... >> >> >>>In news:1162216979.504131.200330@f16g2000cwb.googlegroups.com, >>>rick++ <rick303@hotmail.com>spewed forth: >>> >>> >>>>>Has it gone up? I thought it was 15%. >>>>> >>>>> >>>>Its 15.3%. >>>>At the top end SS taxes increase $428 in 2007. >>>> >>>> >>>>I dont believe there is a self-employeed handiman who >>>>pays self-employment taxes. >>>> >>>> >>>I'm not aware of any way of getting around self employment tax. >>>Care to enlighten me? >>> >>> >>Never hired a independent home-repair guy, huh? Many, if not most, >>offer a discount for being paid in cash. Think about it. No check, no >>paper trail, nothing to declare. The trick is to declare just enough >>to not set off the alarms in the IRS computer. IOW, make sure your >>tax liability is within some certain per centage of previous year. >> >>And yes, there are people living totally 'off the books', doing cash >>business only. Some have a day job and just do the moonlighting off >>the books. (common with specialized trades like electricians.) >> >>aem sends.... >> >> > >he may not pay income tax, but if he shows any income, he pays self >employment. >I believe the IRS will only allow you to show no profit for 3 years before >it starts getting picky. > > > > That's only if you show losses for three years. It says nothing about anyone not filing. While I doubt many are living "totally" off the books, I suspect more than a few are trimming their reported income.
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X-Google-Thread: 10f73f,fa63633239d3a27c X-Google-Thread: 11474a,fa63633239d3a27c X-Google-Thread: 106595,fa63633239d3a27c X-Google-Thread: 107518,fa63633239d3a27c X-Google-Thread: f6c48,fa63633239d3a27c X-Google-Attributes: gid10f73f,gid11474a,gid106595,gid107518,gidf6c48,public X-Google-Language: ENGLISH,ASCII-7-bit Path: arc1-ca.pugleaf.net!g2news2.google.com!news3.google.com!news.glorb.com!hwmnpeer01.lga!news.highwinds-media.com!hw-filter.lga!newsfe16.lga.POSTED!53ab2750!not-for-mail From: gamer <edc4h@cox.net> User-Agent: Mozilla/5.0 (Windows; U; Windows NT 5.1; en-US; rv:1.7.2) Gecko/20040804 Netscape/7.2 (ax) X-Accept-Language: en-us, en MIME-Version: 1.0 Newsgroups: alt.consumers,alt.consumers.experiences,ba.consumers,misc.consumers,misc.consumers.frugal-living Subject: Re: By the numbers: Who Wins, Who Loses References: <bearclaw-59CB83.15303325102006@news.supernews.com> <1161868269.094102.287110@b28g2000cwb.googlegroups.com> <0O90h.52000$cb6.8344@newsfe16.lga> <4542C31F.4010003@gmail.com> <67h5k2l6e6n25ifn35st3jmenbcopl9b2f@4ax.com> <1162216979.504131.200330@f16g2000cwb.googlegroups.com> <454d8378$0$2912$9a6e19ea@unlimited.newshosting.com> <xBk3h.19695$Fi1.16484@bgtnsc05-news.ops.worldnet.att.net> <454e10f4$0$31524$9a6e19ea@unlimited.newshosting.com> In-Reply-To: <454e10f4$0$31524$9a6e19ea@unlimited.newshosting.com> Content-Type: text/plain; charset=ISO-8859-1; format=flowed Content-Transfer-Encoding: 7bit Lines: 56 Message-ID: <rOu3h.65106$Jt3.34809@newsfe16.lga> Date: Sun, 05 Nov 2006 18:51:55 -0500 NNTP-Posting-Host: 68.229.65.161 X-Complaints-To: admin@cox.net X-Trace: newsfe16.lga 1162770711 68.229.65.161 (Sun, 05 Nov 2006 16:51:51 MST) NNTP-Posting-Date: Sun, 05 Nov 2006 16:51:51 MST Organization: Cox