How many of you own your own business? Can you share

[MJN]

what kind it is? How long have you been in business? I'm just curious after I read the posts about how much tax you pay.

 

Thanks!

[Karenciavo]

My husband owns a small advertising agency, he does everything from brochures and bill boards to T.V. and web design.

[Doran]

He and his partner build one of a kind pieces, mostly Federal period style, and restore antiques. They've been in business together for 12 years. I am a freelance writer.

 

Doran

[Rich with Kids]

Photography. Dh has been a photographer for over 20 years. In business for about 10. Commercial and high-end portraits.

[Sunny]

My dh is a paint contractor. He's been painting 27 years, and we has been working self employed for 20. I do bookkeeping for small contractors when it is convienent, usually just getting them organzied and back up to date.

 

Taxes are different. We pay the entire portion of the FICA and medicare that usually a paid employee only pays half and the employer pays half. However, we can usually write off lots of expenses, so that the income is fairly low on paper. We don't feel like we are over taxed.

[Crissy]

We have a small photography and printing business.

Or main focus is sports photography, as the local NFL team is our biggest client. My husband does all of their game photography, as well as event photography for internal and public affairs, player foundations, etc.

I do a lot of large-format printing for them, as well as some graphics and photoshop work, and designing and printing all of the team's security credentials.

 

We also have several high schools in the area for which we photograph and print images of their sports teams (both action photography and team photos).

We photograph and print group pictures at 35-45 golf tournaments each year, and a cover significant number of charity auctions and award benefits.

 

This is our eighth year working together, though my husband has been a sports and event photographer for 35 years. 2008 is his 31st year as the Seahawks team photographer.

[Jenny in Atl]

My better half owns a survey instrument sales and repair shop. He takes very complicated things apart (gives me a headache to even look at the stuff) and then puts it all back together (kinda like the creepy Sylar dude from Heroes) :eek:

He is solo right now so all we pay is just for us, and it's a ton. Last couple years it's been so hard that we don't pay the estimated tax each quarter, just the whole amount in April and add on penalities.

[Colleen]

As noted in my signature, we own and operate an organic dairy. We bought our farm almost 12 years ago.

[Lolly]

He has been in business for about 6 years now. (I think; they have flown by.)

[Sandy in Indy]

My dh is a machinist and has been in business for himself for 17 years. He makes all kinds of metal parts at tolerances that make my eyes cross. I do all the book work for him (yuck) as we can't afford to hire anyone to do it. Over the years we've had an employee or two, but taxes are a killer and it's really easier for us if dh goes solo.

 

And since so much manufacturing has gone overseas, our business has plummeted. But that's another post.

[mysticamethyst]

I am have a very small wedding photography business and this will be the first year I have made enough to pay taxes so we shall see; usually DH income covers my taxes. I am not very educated when it comes to how taxes work; I am scared of the IRS though. Talk about grown up nightmare. ugh.