The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (51519)	4/6/2006 12:51:05 PM
From: BWAC	Read Replies (1) of 306849

<I have a good friend who put his mother on his payroll, she was getting older and couldn't make it on her SS check so he just hired her (and of course she has no duties). The guy runs a small company that has revs in the 2 million range and he does this. Since I was a good friend and he announced this in front of other people who are not good friends I felt compelled to take him aside and tell him he is nuts to think he can do this. He's already had disgruntled employees who have sued him for various things. All it would take is one call to the fraud division of the IRS and he's taking a vacation in West Virginia in minimum security.> Thats not fraud. Its stupidity multiplied by the 15.4% Social Security and Medicare payments required. The IRS doesn't legislate stupid business decisions. She could be on the payroll as Executive CEO of Lunch Appointments for the All Knowing Head Chieftain if that is what the owner wanted. Its a payroll expense just the same. IRS gets paid similar taxes either way. Thru the business earnings or the income taxes on the 'extra' payroll plus 15.4%.

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