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Re: How to pay taxes: small business + regular job

Thanks everyone for your replies! I wish I can just concentrate on my business but having a regular job and taking care of taxes, it is becoming increasingly difficult. I have a couple of questions: (1) Income tax, social security tax, medicare tax from my business must be paid quarterly (next due d...
by tomtoms
Wed Apr 10, 2013 1:20 am
 
Forum: Personal Finance (Not Investing)
Topic: How to pay taxes: small business + regular job
Replies: 7
Views: 667

How to pay taxes: small business + regular job

I have a dilemma. I don't know how to pay my estimated tax for my small business. I started a business in 2013 and I am expecting to make $50,000 in profit this year. I am still working at my regular job that pays $120,000 a year. I am planning to ask my employer to withhold extra taxes on my W-4 to...
by tomtoms
Sat Apr 06, 2013 4:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to pay taxes: small business + regular job
Replies: 7
Views: 667

Re: Self-employment tax for a small business

Thanks everybody for your reply so far! My 2012 salary is $120,000. I should make $125,000 in 2013 at my regular job. I started a business in 2013 and I should make a profit of $50,000 from my small business this year. (1) Just so I can understand, instead of paying my quarterly estimated taxes for ...
by tomtoms
Mon Apr 01, 2013 6:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Self-employment tax for a small business
Replies: 7
Views: 677

Another Question

Thank you! Another question: (6) It seems like I would need to pay my taxes throughout the year on Jan 15, April 15, June 15 and Sept 15. If I started my business in Jan 2013, what do I need to pay by April 15? Do I need to pay my estimated business income tax for the first quarter by April 15 2013?...
by tomtoms
Sun Mar 31, 2013 4:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Self-employment tax for a small business
Replies: 7
Views: 677

Self-employment tax for a small business

First, I want to thank everyone on this forum for your helpful advise so far. I started a business this year and it is to my understand that I must pay self-employment (SE) tax for the first quarter of 2013 by April 15, 2013. I also understand all wages and earnings are subject to 10.4% social secur...
by tomtoms
Sun Mar 31, 2013 1:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Self-employment tax for a small business
Replies: 7
Views: 677

Re: Getting mortgage in 6 mths. Should I get a new credit ca

OP here. I just received approval for a new credit card. I am planning to check my credit score 3 months from now and see if it has gone up. I will update everyone!
by tomtoms
Sun Mar 10, 2013 4:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Getting mortgage in 6 mths. Should I get a new credit card?
Replies: 14
Views: 631

Re: Getting mortgage in 6 mths. Should I get a new credit ca

My score from credit karma is 35 points higher than my equifax score. Hopefully, they won't use my equifax score?
by tomtoms
Sat Mar 09, 2013 11:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Getting mortgage in 6 mths. Should I get a new credit card?
Replies: 14
Views: 631

Re: Getting mortgage in 6 mths. Should I get a new credit ca

Thank you for everyone for your advise so far! I have added additional information to the post. Your suggestion is greatly appreciated!
by tomtoms
Sat Mar 09, 2013 6:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Getting mortgage in 6 mths. Should I get a new credit card?
Replies: 14
Views: 631

Getting mortgage in 6 mths. Should I get a new credit card?

I am planning to obtain a $500,000 mortgage in the next 6 months and to put 20% down. I recently checked my credit score from Equifax and it is 731. Apparently, I need a > 760 score to get the best rate. I have been using just one credit card for the last 13 years. My monthly credit card bill is usu...
by tomtoms
Sat Mar 09, 2013 11:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Getting mortgage in 6 mths. Should I get a new credit card?
Replies: 14
Views: 631

How to fight a speeding ticket?

When I make a mistake, I am the first to admit it. In this case, I believe the officer made a mistake so I need your help. I was driving home in the evening. I was on the right lane and I was about to exit the freeway. I was then pulled over. The officer claimed I was going 80 miles per hour while t...
by tomtoms
Fri Mar 08, 2013 1:06 am
 
Forum: Personal Consumer Issues
Topic: How to fight a speeding ticket?
Replies: 30
Views: 1366

How to prevent others from copying my self-published book?

First, I want to say that this forum has been very helpful! I need your advise. I have put together a study guide and it has been selling well. However, I am very concerned that someone would copy my book, turn it into a PDF, and then send it to other people. This would destroy my business. What can...
by tomtoms
Thu Mar 07, 2013 1:16 am
 
Forum: Personal Consumer Issues
Topic: How to prevent others from copying my self-published book?
Replies: 17
Views: 1197

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