posted on Nov, 15 2012 @ 03:08 PM
There is no "one" receipt, I operate off P&L statements, every week. Each are hidden.
For example, I file each month with the State Comptroller for LBW tax, once a year for State Franchise. Once a quarter for State sales taxes. I file
each payroll period OSDI, SS, Medicare and Medicare. I file Annual Federal tax, as well as claims tax, federal gains tax on valuation. Also I pay
into unemployment insurance (UI). What gets me, is I am taxed, away from the " Cafeteria Plan"...on paying 1/4 of health insurance on my full time
employees. All the perks I pay for great employees/managers....I pay tax on.
On top of that, commercial rates for utilities are triple residential, I pay tax there, a lot. I pay tax on processing of credit cards 1.1% and
additional fee of 2.1% to process each transaction. I pay taxes on claimed tips for employees, which are now 100% of 15% of sales. The Quatter's
formula is no longer used.
When I go to the store, I pay tax, go to the pump, pay tax, renew my registrations for cars, pay tax. My home, pay tax. Write my own check...pay tax.
It is endless.
Go to the TABC site in Texas, look at the tax requirements. Go to the Texas State Comptroller for their requirements...it's the same in many States.
If you have time, read through the Federal Tax Code....all of it is insane. A decade ago I opened my first, in 2013 I will close all of the