Popular Post BillyJack Posted January 1, 2023 Popular Post Report Share Posted January 1, 2023 Talking to the wife today, if I can’t find something part time, maybe I’ll start making kitchen cabinets , bar, etc again…I think new construction is going to slow.. 4 Quote Link to comment Share on other sites More sharing options...
wtnhighlander Posted January 1, 2023 Report Share Posted January 1, 2023 Not enough volume in the poker table market, I guess? Quote Link to comment Share on other sites More sharing options...
BillyJack Posted January 2, 2023 Author Report Share Posted January 2, 2023 I don’t build poker tables for profit, but fun. Building cabinets is easy. Shops around here want me full time and I can only work part time. It gets frustrating. Wife said I haven’t looked in a couple years. She’s righr, with Covid it changed a lot of things. I also believe my experience leads them to believe I won’t be cheap, yet I can only make so much a month. Looking for full time employment, I want as much as I can get. Working part time under disability, I have a lot of wiggle room. Still considering exterior house painting. Just haven’t made a sign yet.. 1 Quote Link to comment Share on other sites More sharing options...
BillyJack Posted January 2, 2023 Author Report Share Posted January 2, 2023 Guess I’ll need to take the time and make sufficient changes to my bidding. Quote Link to comment Share on other sites More sharing options...
Tom King Posted January 2, 2023 Report Share Posted January 2, 2023 If you're going to be making something, might as well make money. If you're going to be making money, might as well make as much as possible. Doing anything, including just living, takes more and more money. More money is good. Quote Link to comment Share on other sites More sharing options...
JohnG Posted January 2, 2023 Report Share Posted January 2, 2023 Part time hires are tricky sometimes. We get a lot of people offering part time work, but we rarely take it. Scheduling their time to align with the production schedule can be difficult or less efficient. Part timers often want flexible schedules, which is usually not good for the company. And they tend to be a short term employee. If you can address those issues when you talk to a potential employer you might have better luck. Also, find out what typical wages are in your area (or what your disability limit is) and be upfront with your pay expectations if you’re thinking they are assuming you’ll want more. 1 Quote Link to comment Share on other sites More sharing options...
BillyJack Posted January 2, 2023 Author Report Share Posted January 2, 2023 On 1/2/2023 at 9:43 AM, Tom King said: If you're going to be making something, might as well make money. If you're going to be making money, might as well make as much as possible. Doing anything, including just living, takes more and more money. More money is good. You can’t on disability. You can only make so much a month. Quote Link to comment Share on other sites More sharing options...
BillyJack Posted January 2, 2023 Author Report Share Posted January 2, 2023 On 1/2/2023 at 10:09 AM, JohnG said: Part time hires are tricky sometimes. We get a lot of people offering part time work, but we rarely take it. Scheduling their time to align with the production schedule can be difficult or less efficient. Part timers often want flexible schedules, which is usually not good for the company. And they tend to be a short term employee. If you can address those issues when you talk to a potential employer you might have better luck. Also, find out what typical wages are in your area (or what your disability limit is) and be upfront with your pay expectations if you’re thinking they are assuming you’ll want more. I signed up for “Worknet”. ITT is a company for finding companies who will hire disabled. Quote Link to comment Share on other sites More sharing options...
BillyJack Posted January 2, 2023 Author Report Share Posted January 2, 2023 I’m trying to decidedly on a new laptop for Ecabinets. My buddy said a couple years ago it would be about $600.. Quote Link to comment Share on other sites More sharing options...
BillyJack Posted January 4, 2023 Author Report Share Posted January 4, 2023 Decided this morning to focus more on the shop than projects. I’ve got a few months till spring and I feel I need to prepare. I feel with money getting tight, many will start looking ing for best price and will probably start looking to get bids.. I no longer have a state ID or business account, so I:guess I’ll work under the radar… 1 Quote Link to comment Share on other sites More sharing options...
Eric Anderson Posted January 4, 2023 Report Share Posted January 4, 2023 I know Social Security and I assume disability programs only consider "earned" income for purposes of eligibility. If you create a Sub-S corporation, you can put yourself on a salary. You keep the salary below the income limits and all remaining income flows into the corporation. You can then take "sub-S distributions" that are not considered earned income and are federally taxable but not payroll taxable. Just a thought. 1 Quote Link to comment Share on other sites More sharing options...
JohnG Posted January 4, 2023 Report Share Posted January 4, 2023 That is a possibility but the IRS does occasionally target these for audit and will evaluate whether your allocation of earned payroll vs distributions is appropriate. At your level it probably won’t draw much attention but it would be advisable to consult a tax accountant in your area if you choose to go this route. I know people that were audited with this specifically as the the focus. The IRS eventually agreed with their justification, but not before causing a significant amount of time and expense. Not to mention the additional admin work required to create and maintain an S Corp. Quote Link to comment Share on other sites More sharing options...
JohnG Posted January 5, 2023 Report Share Posted January 5, 2023 On 1/4/2023 at 9:04 AM, BillyJack said: I no longer have a state ID or business account, so I:guess I’ll work under the radar… This isn’t always required for sole proprietorships, check your state regs. Here in NC you can establish a SP without filing any legal documents. Quote Link to comment Share on other sites More sharing options...
BillyJack Posted January 5, 2023 Author Report Share Posted January 5, 2023 I won’t need+it for cash. Only if I take a business check. If they wrote it to me as Jack Duren Cabinets , I have to have a business account. If it’s to Jack Duren , I don’t.. The reason I’ll stay away from builders this time… Quote Link to comment Share on other sites More sharing options...
JohnG Posted January 5, 2023 Report Share Posted January 5, 2023 So tell them to write the check payable to Jack Duren. Make them rewrite it if it’s wrong. “ABC Company” wouldn’t accept checks made out to “XYZ Company”, if it’s wrong it’s wrong. Banks do typically require an EIN to open a business account, but some will accept your SSN for a sole proprietorship. Quote Link to comment Share on other sites More sharing options...
BillyJack Posted January 5, 2023 Author Report Share Posted January 5, 2023 I don’t want to do builders cabinet or paint builders houses… I don’t want to deal with builders prices and dead lines.. Remember this is part time, not full time.. Quote Link to comment Share on other sites More sharing options...
BillyJack Posted January 5, 2023 Author Report Share Posted January 5, 2023 Keep this in mind. I have a $10,000 bill payed by Medicare each month for dialysis. Not going to risk this over a few dollars.. 2 Quote Link to comment Share on other sites More sharing options...
legenddc Posted January 6, 2023 Report Share Posted January 6, 2023 Happy to take any extra money off your hand if you earn too much! Why not set up an Etsy shop or something to list smaller things in the meantime? Quote Link to comment Share on other sites More sharing options...
Coop Posted January 6, 2023 Report Share Posted January 6, 2023 On 1/4/2023 at 3:16 PM, Eric Anderson said: I know Social Security and I assume disability programs only consider "earned" income for purposes of eligibility. If you create a Sub-S corporation, you can put yourself on a salary. You keep the salary below the income limits and all remaining income flows into the corporation. You can then take "sub-S distributions" that are not considered earned income and are federally taxable but not payroll taxable. Just a thought. @Eric Andersonyou sound well informed and I’m not contesting this but just wondering. My brother and I sold our sub-s company 7 years ago to an individual with 75% down and semi-annual payments for the balance for the next 10 years. We retained the sub-s to receive these payments. We still own the building and property and formed an LLC to accept monthly rental from the same individual. It’s my understanding that monies received from both companies flow thru to myself and brother as personal income and we pay taxes on these. I live in Texas so there is no state income tax. Quote Link to comment Share on other sites More sharing options...
BillyJack Posted January 6, 2023 Author Report Share Posted January 6, 2023 On 1/5/2023 at 8:44 PM, Coop said: @Eric Andersonyou sound well informed and I’m not contesting this but just wondering. My brother and I sold our sub-s company 7 years ago to an individual with 75% down and semi-annual payments for the balance for the next 10 years. We retained the sub-s to receive these payments. We still own the building and property and formed an LLC to accept monthly rental from the same individual. It’s my understanding that monies received from both companies flow thru to myself and brother as personal income and we pay taxes on these. I live in Texas so there is no state income tax. Before I would bet my disability on this, “I know Social Security” and “ I assume” doesn’t leave me very confident about an internet reply. Quote Link to comment Share on other sites More sharing options...
Mark J Posted January 6, 2023 Report Share Posted January 6, 2023 On 1/2/2023 at 9:13 AM, BillyJack said: Still considering exterior house painting. Just haven’t made a sign yet.. If you're willing to climb ladders, a service I'm finding in short supply is gutter cleaning, especially gutter cleaning & window washing combined. Quote Link to comment Share on other sites More sharing options...
BillyJack Posted January 6, 2023 Author Report Share Posted January 6, 2023 I cleaned gutters in 1983 after I hurt my hand on the table saw on workman’s comp, but considering exterior painting.. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.