From the local paper...

Every week in the business section they do a close-up of someone in a different profession. This week is a woodworker:
http://www.app.com/apps/pbcs.dll/article?AID=/20061009/BUSINESS/610090311/1003
Sure doesn't appear to be much money in it.
B.
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Either that or he doesn't want the IRS to get wind of the fact that he makes extra under the table.
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wrote:

Probably a little of both- but at 60, I doubt the guy wants to put in too many nights or weekends. Best I ever found for pay as a woodworker was $12/hr- and that was for someone willing to put up with an insane boss who liked to scream and curse. Most pay a little less than that. Gotta love it to do it for a job, because it sure won't make you rich.
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wrote:

"Support Our Troops" and American Flags all over their truck and then trying to weasel a portion under the table.
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Another way to read it is that a "newbie" would make about $25K - the article talks about earning potential after 5 years - and that is essentially still an apprentice, not a master.
wrote in message news:5QFWg.124

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On Tue, 10 Oct 2006 06:21:23 -0400, Joe Bemier

Makes ya sick, does it?
You know, what kind of makes me sick is a guy working 40-60 hours a week and paying taxes on all of it to make about $20k/year take home pay being looked down on because he chose not to pay additional taxes on an extra couple hours of work a week he had to do to make sure the kids had shoes or the morgage got paid- while some shitheel in a corporate office is busy having his accountant write off his new yacht and the year's golf tourament as business expenses so he can pay less taxes than a high school kid who flips burgers 10 hours a week.
Be realistic. I'm not against taxation- I believe it's important and serves a good purpose (most of the time). And I pay my taxes- but I sure as hell am not going to hold a blue collar worker accountable if he makes an extra couple hundred bucks a month in his spare time and doesn't give it away voluntarily. You work your time at the day job and pay the payroll taxes, you've done your part and made your contribution. Bad enough they're taking our benefits away and selling our livelihoods to the lowest bidder somewhere overseas without making extra donations to the fellas who won't do a thing to stop it.
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"I would like to know when the politicians will pass a law that lets the working class vote themselves a pay raise and vote to give themselves a pension!!!! (?????)
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When you are in business, your accountant always works the numbers within the regulations to keep your taxable income as low as possible, while an employed person does not have that advantage and pays tax on all that he is paid.

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One accountant said the proper consideration is not how much you are making but how much you are TAKING from the business. I'm sure it is much tougher now with new regulations, but many business owners don't buy cars, but the business does. They don't take vacations, but do travel for seminars and to meet customers.
I worked for a fellow that was on the board of directors for an industry association. They were having a board meeting in the Bahamas. The agenda for the meeting was "where shall we have next years meeting?"
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Buddy Matlosz wrote:
... Not much money ....:
How true. I was looking to buy a local furniture store. Guy gets his stuff from distributors unpainted, then applies a markup for selling the raw stuff and another if he has to paint it. Pine, some oak, very functional not "high end". He told me he makes about $35k a year. That's just himself, no help. I passed it up.
This guy says you could make $25 after 5 years, well he's been in business a longer then that and has help, so he indicates. I also think his business buys his trucks, supplies and tools. A lot of overhead in workman's comp as well - I could imagine what the claims are like for woodshop.
MJ Wallace
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On 11 Oct 2006 18:01:14 -0700, snipped-for-privacy@gmail.com wrote:

Some businesses buy tools, many require you to have your own. Trucks and supplies are usually covered, but supplies often doesn't count drill bits, driver bits for screw guns, razor knives & blades, etc. Doesn't sound like much, but it adds up when you do it for a living. Far as workman's comp goes, I made one claim in the last ten years, and it was in a metal shop. I never saw anyone else hurt badly enough to need more than a band aid or an elastic bandage, either. You figure out how to avoid hurting yourself pretty quick when you do it every day.

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Great article. Thanks for including it.

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