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Cool. Thanks for the advice. I think I will check that book out. Sent from my SCH-I535 using Tapatalk 2

If we are SCorp, the we would be "employees" right? Then we would need workers comp insurance. In WI, no need to have that if you are the owner of a LLC. I wonder if that would come into play. Sent from my SCH-I535 using Tapatalk 2

My partner and I each owe taxes on half of the profit of the company. That's what you mean right? Sole prop is just one person taxed on the profit while we have two. Sent from my SCH-I535 using Tapatalk 2

We are LLC. We formed our company, our SCORE advisor, lawyer and accountant all recommended LLC. In fact, I don't personally know any small businesses (2 men or less) who aren't LLC's. I will start asking these questions of our advisors and see what they all say. We haven't addressed this in...

So I'm going back to basics here.... I'm set up as a LLC partnership. From what I recall that is better than sole proprietor. Next step is S-Corp. (I think). All of our advisors told us that wouldn't benefit us either. That was at the time of start up. Maybe we need to look at changing sometime...

Can you expand on your thumbs down? I assume your Co is set up differently. How so and what advantages do you see? Sent from my SCH-I535 using Tapatalk 2

Good point. However I know exactly where social security will be. I used to have a financial advisor and we were planning for no help from the government what so ever. Then I stopped working with the advisor because I had 4 kids and started a business and basically didn't have any money for him...

Oops. My bad, I knew that you were oe of "those" people but I forgot.... You guys have taxes up there huh? ;-) Sent from my SCH-I535 using Tapatalk 2

That must be a state by state thing.... I'm thinking retirement might be the way to go, or chemicals for PHC Sent from my SCH-I535 using Tapatalk 2

We still haven't pulled the trigger on a mini. Maybe it's time. I wonder if our accountant would let us depreciate that in one year. We really don't need anything small. Sent from my SCH-I535 using Tapatalk 2

And I'm not taking bucket truck purchase.... Sent from my SCH-I535 using Tapatalk 2

How does that work.... Expense vs depreciation? Do you just expense it all that current year and no future depreciation? Sent from my SCH-I535 using Tapatalk 2

Our accountant just emailed and informed us that we had too good of a year and we need to spend money or put some in retirement or something to lower our self-employment taxes. What do you all do in this situation? I didn't think this day would come for us, but I guess it did. Sent from my...