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redneckgaijinSo, today I went to Beaumont and played office tag to hunt up a blank W-2 so I could finish my business tax filing and begin my personal tax filing.
When I explained to the IRS woman (Fran) why I wanted the blank form, she said, "Sole proprietor? You can't do that."
She then explained to me that when their forms say, "You don't have to do this," what they really mean is, "You are expressly prohibited from doing this." In this case, sole proprietors cannot list themselves as an employee, cannot withhold unemployment, SS, Medicare, income tax, etc. from checks they cut to themselves, etc.
She does say, however, that so long as I don't use the W2, I can do a take-back on the withholding and unemployment paperwork I filed. I need to get copies of the cancelled checks- front and back- to show that yes, I did indeed pay what I claim to have paid. That'd be $540 back in pocket...
... and taking what I paid myself and the taxes off the books, WLP goes from in the hole to a substantial profit for 2007.
Which means I probably qualify for the Earned Income Credit.
Which means more fucking paperwork.
And there's still the threat of penalties.
Jesus Christ. All I wanted to do was (a) separate business from personal finances without incorporating, and (b) start paying into Social Security again.
The system is set up to actively discourage people from becoming entrepreneurs.
And to drive poor boys who don't read bureaucratese well absolutely NUTS.
When I explained to the IRS woman (Fran) why I wanted the blank form, she said, "Sole proprietor? You can't do that."
She then explained to me that when their forms say, "You don't have to do this," what they really mean is, "You are expressly prohibited from doing this." In this case, sole proprietors cannot list themselves as an employee, cannot withhold unemployment, SS, Medicare, income tax, etc. from checks they cut to themselves, etc.
She does say, however, that so long as I don't use the W2, I can do a take-back on the withholding and unemployment paperwork I filed. I need to get copies of the cancelled checks- front and back- to show that yes, I did indeed pay what I claim to have paid. That'd be $540 back in pocket...
... and taking what I paid myself and the taxes off the books, WLP goes from in the hole to a substantial profit for 2007.
Which means I probably qualify for the Earned Income Credit.
Which means more fucking paperwork.
And there's still the threat of penalties.
Jesus Christ. All I wanted to do was (a) separate business from personal finances without incorporating, and (b) start paying into Social Security again.
The system is set up to actively discourage people from becoming entrepreneurs.
And to drive poor boys who don't read bureaucratese well absolutely NUTS.
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no subject
Date: 2008-01-29 02:43 pm (UTC)I don't agree with her self-assurance that her job is guaranteed forever, but there will be an IRS under the FairTax, no matter what its creators say. Someone has to push the paperwork to administer the tax to retailers and to send pre-bate checks out to the American people. You can change the name if you want to, but it'll be the same bureaucracy, probably with the same exact employees.
no subject
Date: 2008-01-29 03:00 pm (UTC)