Hey, Joe Wurzelbacher
The only thing more overrated than natural childbirth is the joy of owning your own small business. You, Joe the Plumber, say you will to be paying for your business for many years to come and at the same time your profit (income) will be more than $250,000. Your gross income may be 250K, but I doubt that your net income will be this high. Your payments on your business loans are deductible. After all your business deductions -- employee salaries, rent, trucks and gas, machinery, parts and supplies, upkeep, utilities, and other costs of running the business you may have a profit. On the amount above 250K that is pure profit, you will pay 39% instead of 36% in tax.
You might want to tack up the little sign on wall in your shop, Joe.
Ask me how I know.
Mother of two and
small business owner
posted by Christine Thresh at 11:27 AM
4 Comments:
Good sign.
Owning a business - in addition to the pure financial aspect - can be a real grind.
hehehehe :)
And apparently Joe isn't really a plumber.
Sometimes I miss Ross Perot's pie charts and sucking NAFTA sound. The sucking sound around here is work on the condo water shut-off valves in anticipation of foundation repairs.
As a mother of three, I would add that childbirth is really short compared to the long joys of condo ownership.
Joe lives just down the road from us. He's a jack of all trades, not really a plumber.He's been working under the table for years and owes back taxes. I his small business is a pipe dream.
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