Author Topic: new 7.25% state tax increase on labor in nc effective 2017  (Read 5210 times)

Marty Champions

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new 7.25% state tax increase on labor in nc effective 2017
« on: January 09, 2017, 09:40:04 AM »
thats a massive jump on taxes in on year on the workin man

for the dims who dont understand if i charge 100 $ to paint a room in 2016 , as of 2017 i will make 7.25$ less because of this state labor tax. or the tax gets passes onto whomever paying me


its funny we got more n more every year n the tax pool paying the same state rate , that should suffice right?
why would there be a need for a tax rate increase

great way at the state level to hurt middle class
A

Irongrip400

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #1 on: January 09, 2017, 12:19:42 PM »
One of your more well written and thought out posts as of late. I'd say, if you are doing work like this, just have the person pay cash or a check in your name. Are they asking for a COI for workers comp and liability?  I saw where Hardee's is advertising a meal for $4 now which includes two sandwhiches, fries and a drink. You may be forced to eat meat broseph. It's the only way to offset these tax increases.

Vince G, CSN MFT

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #2 on: January 09, 2017, 04:10:43 PM »
thats a massive jump on taxes in on year on the workin man

for the dims who dont understand if i charge 100 $ to paint a room in 2016 , as of 2017 i will make 7.25$ less because of this state labor tax. or the tax gets passes onto whomever paying me


its funny we got more n more every year n the tax pool paying the same state rate , that should suffice right?
why would there be a need for a tax rate increase

great way at the state level to hurt middle class


Why don't you just charge 107.25....
A

stuntmovie

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #3 on: January 09, 2017, 04:23:24 PM »
But then he would have to pay $7.78
Still 3 cents shy.

stuntmovie

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #4 on: January 09, 2017, 04:32:50 PM »
How about $107.82?
That should work.

Primemuscle

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #5 on: January 09, 2017, 04:48:45 PM »

Why don't you just charge 107.25....

Actually, that would just raise the tax bite. I'll leave it to you to figure out why.

Erik C

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #6 on: January 09, 2017, 04:50:18 PM »
Actually, that would just raise the tax bite. I'll leave it to you to figure out why.

No. The tax bite would be exactly the same.

stuntmovie

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #7 on: January 09, 2017, 05:10:03 PM »
No,, PRIME! You are incorrect and ERIC is right.
If Marty were to charge an additional fee of $7.82 for each job in which Marty wants to 'clear' $100 on while  realizing that he has to pay the state tax of 7.25% ... it will work well on his behalf. (I think!)

If his fee is $107.82 he will have to pay $7.82 of that fee. (Actually $7.81695 which is rounded up to $7.82).

So deduct that $7.82 from the $107.82 that someone pays Marty and Marty clears a crisp new $100 bill.

I'm actually making this simple for my own benefit.

BUT.... The good old state tax board may audit Marty and tell him that he has to pay 7.25% of the $107.82 he actually received.

This is where it gets tricky. And audits are a real pain in the ass.

But here's a another question for you other know-it-alls.

What income does Marty declare on his Federal Income Tax form?

The $100.00 or the $107.82?

Think carefully or you could end up in some federal prison along with Marty who gets his tax advice from this GetBig board.

Erik C

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #8 on: January 09, 2017, 05:22:26 PM »
He declares the $107.82, but he can deduct the state tax that he paid.

stuntmovie

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #9 on: January 09, 2017, 05:33:30 PM »
Eric, I think you are right but the State Tax Auditors could raise the question, 'Did Marty pay the $7.82 tax directly or did the customer pay it indirectly through Marty.?'

This is the kind of shit big corporations run into when they are searching new ways to increase their bottom line.

But I tend to believe that you are correct.

Erik C

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #10 on: January 09, 2017, 05:41:46 PM »
Eric, I think you are right but the State Tax Auditors could raise the question, 'Did Marty pay the $7.82 tax directly or did the customer pay it indirectly through Marty.?'

This is the kind of shit big corporations run into when they are searching new ways to increase their bottom line.

But I tend to believe that you are correct.

Marty hasn't made it clear if this is an increase on the state income tax on labor, that I am assuming it is, or if it is a sales tax on the price of labor to the customer. If it is the latter, then he would collect the sales tax for the state, and only declare the $100 as income on his federal taxes.

SOMEPARTS

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #11 on: January 09, 2017, 05:48:01 PM »
Welcome to the what the rest of the country has already been doing for years.

stuntmovie

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #12 on: January 09, 2017, 05:54:21 PM »
OK, then ...it appears that it would be best if Marty simply charged $107.82 for the same work he used to charge $100.00.

That way there would be no auditing confusion.

But just to be on the safe side .... I suggest he charge a bit higher so the auditors do not suspect that the additional fee of 7.25% was psid by any other person than himself.


Marty Champions

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #13 on: January 09, 2017, 06:42:54 PM »
No,, PRIME! You are incorrect and ERIC is right.
If Marty were to charge an additional fee of $7.82 for each job in which Marty wants to 'clear' $100 on while  realizing that he has to pay the state tax of 7.25% ... it will work well on his behalf. (I think!)

If his fee is $107.82 he will have to pay $7.82 of that fee. (Actually $7.81695 which is rounded up to $7.82).

So deduct that $7.82 from the $107.82 that someone pays Marty and Marty clears a crisp new $100 bill.

I'm actually making this simple for my own benefit.

BUT.... The good old state tax board may audit Marty and tell him that he has to pay 7.25% of the $107.82 he actually received.

This is where it gets tricky. And audits are a real pain in the ass.

But here's a another question for you other know-it-alls.

What income does Marty declare on his Federal Income Tax form?

The $100.00 or the $107.82?

Think carefully or you could end up in some federal prison along with Marty who gets his tax advice from this GetBig board.
lol i pay my accountant 1200 a year
A

Marty Champions

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #14 on: January 09, 2017, 06:49:32 PM »
how come everyone here seems to have difficulty somprehending this new state sales tax on labor
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Erik C

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #15 on: January 09, 2017, 06:52:00 PM »
Because you didn't make it clear that it was a SALES TAX!

Marty Champions

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #16 on: January 09, 2017, 06:56:37 PM »
Because you didn't make it clear that it was a SALES TAX!
its not hard to figure out...only on getbig i must spell and punctuate perfectly and redundantly clarify everything!fuckin retards
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Erik C

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #17 on: January 09, 2017, 06:59:47 PM »
its not hard to figure out...only on getbig i must spell and punctuate perfectly and redundantly clarify everything!fuckin retards

Only on Getbig? I guess no one, anywhere else, knows what you're talking about either, and they don't care!

Marty Champions

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #18 on: January 09, 2017, 07:01:28 PM »
Only on Getbig? I guess no one, anywhere else, knows what you're talking about either, and they don't care!
fuck off fagget
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Dokey111

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stuntmovie

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #20 on: January 10, 2017, 10:31:13 AM »
YEP, Marty! Proper English and proper punctuation plus proper spelling is a sign of intelligence within this world in which we exist.

Plus you can save yourself $100 a month if you did your accounting yourself.  That will more than make up for the tax increase.

It ain't rocket science.

Why do you get upset when some good guys on this board are trying to help you out?

Dave D

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #21 on: January 10, 2017, 10:45:02 AM »
Hard work + less money × explaining himself  = angry falcon

Yamcha

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #22 on: January 10, 2017, 01:49:01 PM »
Marty pays what Marty fucking wants to pay.
a

Primemuscle

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #23 on: January 10, 2017, 03:25:54 PM »
No,, PRIME! You are incorrect and ERIC is right.
If Marty were to charge an additional fee of $7.82 for each job in which Marty wants to 'clear' $100 on while  realizing that he has to pay the state tax of 7.25% ... it will work well on his behalf. (I think!)

If his fee is $107.82 he will have to pay $7.82 of that fee. (Actually $7.81695 which is rounded up to $7.82).

So deduct that $7.82 from the $107.82 that someone pays Marty and Marty clears a crisp new $100 bill.

I'm actually making this simple for my own benefit.

BUT.... The good old state tax board may audit Marty and tell him that he has to pay 7.25% of the $107.82 he actually received.

This is where it gets tricky. And audits are a real pain in the ass.

But here's a another question for you other know-it-alls.

What income does Marty declare on his Federal Income Tax form?

The $100.00 or the $107.82?

Think carefully or you could end up in some federal prison along with Marty who gets his tax advice from this GetBig board.

I think we are talking about the same thing. Marty would have to pay tax on the $7.82 if he just adds it to the price. To be on the safe side, it would be better if he charged the customer $100 plus tax (7.82). On the billing statement he should make it a separate line item labeled tax.

The Abdominal Snoman

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Re: new 7.25% state tax increase on labor in nc effective 2017
« Reply #24 on: January 10, 2017, 03:36:18 PM »
Never charge double zero's(or snake eyes) on anything. Bad luck. $100 dollars=00(snake eyes). For better luck, charge $111.