View Single Post
Old 03-30-2009, 05:47 PM  
IllTestYourGirls
Ah My Balls
 
IllTestYourGirls's Avatar
 
Industry Role:
Join Date: Feb 2007
Location: Under the gold leaf ICQ 388-454-421
Posts: 14,311
Quote:
Originally Posted by Snake Doctor View Post
Actually it was like that for me when I first started.

When I first quit my day job to do this full time, I was barely making enough to get by, much less save for taxes....but I knew the only way I could grow the business was to work at it full time.

So when tax time came and I hired a CPA, I owed the govt $9K and only had about 2K, and that was just for the year before. That didn't count the first quarter of the year I was in.

I got all caught up and then some over time. It was the price I had to pay to grow my business....although it did feel weird when my income had doubled but I still had no money left over at the end of the month because I owed so much in taxes....but by the end of the 2nd year I was way ahead of the game and able to enjoy some of my newfound monies.

Nope higher taxes do not hurt small businesses. Just ask your friend Obama.
__________________
IllTestYourGirls is offline   Share thread on Digg Share thread on Twitter Share thread on Reddit Share thread on Facebook Reply With Quote