Re: Are you guys aware of this ticking time bomb?

On 10/20/2024 8:11 PM, Sergey Kubushyn wrote:

Don Y <blockedofcourse@foo.invalid> wrote:

On 10/20/2024 1:12 PM, Sergey Kubushyn wrote:

Don Y <blockedofcourse@foo.invalid> wrote:

On 10/19/2024 3:54 PM, Sergey Kubushyn wrote:

The cherry on the cake is that most people are not even aware they have to
submit such reports...

>
Of course, you are aware that you have to report and pay "Use Tax/Transaction
Privilege Tax/Sales Tax" on any items for which you did not have said taxes
taken out at time of purchase.  Regardless as to whether you are a business
or a private individual...
>
I.e., there are likely many requirements that you are unaware of.
You *do* have a lawyer and accountant, right?

>
I don't. I'm a one man shop filing my business taxes as Schedule C on my
personal tax return.

>
That's your mistake.  Do you also diagnose your own health conditions?
Do your own plumbing?

 You hire somebody if you have money for this. And actual need. You probably
don't understand that there are many different situations.

You obviously (by your own evidence) *needed* someone to keep you aware of
such things.  Instead, you are complaining because there is some requirement
that you now are faced with that you consider irksome.

I have a permanent full time job. This is my main income source. I do also
have an LLC that I use for side contracts. Those are quite rare, don't even
happen every year. Didn't have any in 2023 and none this year. The LLC cash
flow is negative -- not even counting other expenses, just business license
cost pushes it in the negative territory. Do you think there is NEED for
hiring somebody to do nothing? And where the money to spend on such hiring
is supposed to come from?

Then close your shop!  Stop whining about the fact that it costs
money to make money.  Make wooden birdhouses in your garage and
sell them at local flee markets -- and hope your income doesn't
rise to a level that attracts attention to that "unlicensed"
business.

The other use for that LLC is to get calibration agreements and other stuff
with big companies that won't even talk to individuals. Ever tried Fluke for
example? And they are not an exception. Did you try to get proper Internet
connectivity with legal IP addresses where you can run your own server farm?
With your own domains, DNS, email, and everything else?

Again, if you don't have the money to play in that park, then
don't!
I, early on, opted not to get involved in direct to customer
marketing -- because I didn't want to deal with the liability
issues.  I likely lost out on income generating opportunities
but *benefited* from not having to worry about that stuff!
I want to design things, not sell them!  "Salesman" is so
insulting...

As of doing own plumbing -- yes, I do. As well as woodworking, HVAC, small
construction, electrical, and whatever else. And I do all kinds of welding,
machining, metalworking, building prototypes, do software engineering close
to the bare metal and much more. I know that I will do it better than most
of so-called "professionals", will be confident that the work is done
properly, it will cost me way less than those "professional" services, will
do way less damage to my nervous system, and it is FUN to learn new skills.
I do have many licenses/certifications like e.g. EPA Universal HVAC that
allows me to work on ANY HVAC system. And I have tons of tools for
different trades that I purchase instead of paying "professionals" order of
magnitude higher price for each one-time job which is poorly done most of
the time.

But you clearly don't have the skills to track the legal requirements
of your "side" business.
Or, just don't want to be bothered with them.
Yeah, I know.  Filing tax reports is annoying... why don't I just
skip them?  It's also annoying to have to put away my tools
each time I use them...

Also, I've been taught that an engineer must be able to do himself whatever
he wants the technicians and other workers are supposed to do to implement
his design. E.g. one may be not as skilled to do tricky welds but he should
be able at least start and keep an arc otherwise he has no moral authority
to make any demands on the workers and technicians. When you can do whatever
they can do you have their respect.
 And those clients/customers who hire me are NOT one man shops. They have
money to burn and they don't have experience so they actually have a NEED.