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In reply to the discussion: Bernie Sanders Grills Obama's Budget Chief: Why Should Huge Companies Pay ZERO Federal Income Taxes? [View all]Lurker Deluxe
(1,036 posts)Either you have no idea the difference between revenue and profit, or you're lying.
You say in a different post, "It made me nervous as hell to have 20 plus people depending on me to pay their paychecks every 2 weeks"
Then, "good jobs. 2.5 to 3 times WA state minimum wage".
WA state min wage = $9.47. 2.5X$9.47=$23.67. 2080 hours in a year = $49,244 X 20 employees = $984,880. Damn near a million in payroll not even including matches on SS, insurance, and "29 days PTO. 100% employer paid health, dental, vision, life insurance, plus quarterly bonuses".
You've busted the million in costs just in basic payroll, so I damn sure hope you are pulling in several million in revenue otherwise you are crazy broke.
But then again, "I only expanded to a new business because I thought people are hurting".
So, I am assuming you have that kind of cash laying around to cover all these costs for the first few months ... or was your business profitable from day one?