Silver about to pass $40/oz!

[the.gladiator1987]

So a registered business owner who doesn't deal in cash, thereby having all his transactions traceable, is paying someone $40 an hour to work for him without factoring that in on his balance sheet and operating expenses? Thereby overinflating his revenue and forcing him to pay significantly higher taxes ?

Anyone else waiting for this to blow up?

its not 40/hr. Its commission. I just happen to be a boss, that is all.

I dont think you get it. He just wants the parts on ebay. He is not paying me hourly. he pays me based on the job. higher taxes? yea thats what happens when you make more money brah. I am also getting 5% commission on sales above $8.00. So that is basically 40/hr plus commission. And in a couple weeks its gonna be a work-from-home job. 2.25 per post thats gonna make you 300% revenue MINIMUM, prob isnt a big deal, is it?

Like I said, officially ballin.

 

[75th]

looooooooooooooooooooooooooooooooooooooooooooooooooooooollllllllllllllllllllll @ glad complaining about higher taxes.

 

[the.gladiator1987]

I wasnt complaining brah, i was saying my boss will have higher taxes because he will have more revenue from my ebay posts than if he didnt have anything on ebay.


Besides, im gonna make good use of obama's child tax credit money each year!

 

[stevesmi]

I think it was more so his attitude of "all you suckers went to your accredited universities yet are stoopider than me rolfmao" thing that rubbed us the wrong way.

In my experience, the funniest thing about most traders is that they are the absolute worst investors out there. I had a bunch as clients in my previous firm and, while smart doods, they had no idea what they were doing when it came to actually investing on their own.

i don't disagree with that at all.

when people ask me what to invest in long term.. i tell them governmnet bonds. they look at me expecting me to tell them some hot stock tip. i will take the guaranteed 4-5% per year vs. the volatility of investing in commodities or equities anyday.

ironically the doods i work with are douchebags and clueless on macroeconomics, but for whatever reason they are good traders.. i believe it has to do with having the trader mind of seeing things in the short term, and not worrying about the big picture.

 

[stevesmi]

I wasnt complaining brah, i was saying my boss will have higher taxes because he will have more revenue from my ebay posts than if he didnt have anything on ebay.


Besides, im gonna make good use of obama's child tax credit money each year!

I also am 1099 self employed.

you can writeoff a lot of things. leased vehicle, mortgage interest (if you own a home), rent (this is sketchy but if you work from home you should be g2g), utilities (this one is HUGE.. internet, power, water, etc), for me since I own rental homes depreciation is HUGE, entertainment, food, office supplies (computers, desk, etc).

if your accountant gives you hell about these writeoffs then find another one. since you are working on your computer from home, you have the aboslute right to write these things off.

also any losses you might have incurred the last 3 years can be carried over

 

[calveless wonder]

You can't be this clueless

IF HE'S PAYING YOU COMMISSION HOW IS HE NOT GOING TO 1099 you?

There is no logical reason he wouldn't report the money he pays you on his taxes. It just helps reducd his adjusted gross income.

And did I also see you wrote that it wouldn't matter if parts sold for $1 dollar? Even if he pays you $2.25 a post, not including the fees he pays for eBay and paypal ?
So your boss would be ok with losing money for no reason ?

You seriously have no idea how business works.

 

[calveless wonder]

I also am 1099 self employed.

you can writeoff a lot of things. leased vehicle, mortgage interest (if you own a home), rent (this is sketchy but if you work from home you should be g2g), utilities (this one is HUGE.. internet, power, water, etc), for me since I own rental homes depreciation is HUGE, entertainment, food, office supplies (computers, desk, etc).

if your accountant gives you hell about these writeoffs then find another one. since you are working on your computer from home, you have the aboslute right to write these things off.

also any losses you might have incurred the last 3 years can be carried over

Have you not been listening steve?

He says he's getting paid under the table for this, cash. And doesn't have to pay taxes.

Despite that making no sense on the part of his boss.

 

[-SD-]

Have you not been listening steve?

He says he's getting paid under the table for this, cash. And doesn't have to pay taxes.

Despite that making no sense on the part of his boss.

As usual Im sure were missing some key information since no business owner would be that stupid to not reduce taxable income. The cash expense is already there why the fuck take the IRS hit from it also lolol

 

[75th]

Does it surprise anybody here that Glad has absolutely no idea of what he got himself in to?

Also, I'd love for someone to make a video documentary of Glad preparing his taxes and the inevitable audit by the IRS six months later.

 

[the.gladiator1987]

You can't be this clueless

IF HE'S PAYING YOU COMMISSION HOW IS HE NOT GOING TO 1099 you?

There is no logical reason he wouldn't report the money he pays you on his taxes. It just helps reducd his adjusted gross income.

And did I also see you wrote that it wouldn't matter if parts sold for $1 dollar? Even if he pays you $2.25 a post, not including the fees he pays for eBay and paypal ?
So your boss would be ok with losing money for no reason ?

You seriously have no idea how business works.

Lol ur hilarious bro. Im getting 2.25 a post. The minimum I put an item on is for 5 bucks. I was making an analogy. Plus, dumbshit, some items have 100 quantity. So even if I DID put it for $1 that means if they all sold he would get 100 bucks and he only paid me 2.25 lolz

Ill ask him right now why im not a 1099 employer