I’ll never forget when I had a very simple equipment buy-sell business and I became “compelled”, let’s say, to “legitimatize” the business and get my single employee onto worker’s comp, pay unemployment insurance, and develop accounts for withholding taxes.
Before, I just wrote him a check for $1000.00 every Friday and it was more money than he’d ever made in his life. (This was 1991)
After, I think his check was about $671.
Yep, that $1,000.00 from your business quickly turned into around $1,600.00 a week right?! Try offering insurance and watch the vacuum!
Employees will be much more expensive soon.
All that ** free ** Obama / Pelosi stuff that businesses will get hit with