O.K. folks, here's the deal. I know some of you have gotten additional information on the company so I'm going to post a description of exactly what it is. For those of you who are familiar with tax filing, please bear with me. There are alot of ladies and gentlemen who don't have that experience so I'm going to be as complete as I can.
It is called Starfish Enterprises and it is a payroll service that's geared towards very small businesses that deal primarily in cash. When I first posted about it, I was clear that it was brand new and it is. I believe in the concept so much that I have become a partner in the business and am an investor. I also use the service.
What it does is handle all of your withholding and taxes, plus a small, reasonable fee for doing all your paperwork, keeping you in compliance with social security, the IRS, etc and it includes tax preparation services. You are basically your own employee. You can deposit as much or as little as you like. Some people have a set figure that they deposit, each week. It is available in 30 states and is backed by Chase Bank and ADP Your money is safe. This is a real company and it is solid.
You want to pay your taxes and file a return because if the unthinkable happens and you're in trouble, if they can't get you for one thing, they will get you on tax evasion. Don't believe me? Ask Heidi Fleiss. Truth is, it doesn't matter how you make your money. You can be a construction worker, a roofer, a consultant a psychic or whatever. The benefits and rules apply to everyone.
Filing your taxes can give you other benefits. If you ever need to file for disability or social security, you may need to have paid into the program (for some of the benefits). Also, if nothing else, when you file and you have children, you may be entitled to EIC (earned income credit). When I calculated mine from last year, the fee I would have paid to Starfish was alot less than what I got in EIC. Paying my taxes actually made me more money. Since you are your own employee, it also fills any gaps in your employment history. You can verify your income when you want to finance a car or a house. These are just a few benefits.
This is a simple solution to so many of our challenges. How many threads are there, asking for provider friendly car lots or apartments? This eliminates that and gives you the power to live your life the way you want to, where you want to. If you can't verify your income, you often end up paying higher rent, hell, higher everything. I mean it, if I'd had check stubs when I bought my car, I would have paid 8% interest and instead, I'm paying 23% through my own bank. This can allow you to keep more of what you make simply by paying less interest on financing!
This is the website: Starfishpayroll.com
You can download the forms and signing up is easy. You get a deposit card that you can use at any Chase bank. You can call the 800 number or email if you have any questions.
This is what we've been waiting for, it's an equalizer for us. Please, let me know what I can do for you. Ask questions and I will find answers. Feedback is greatly appreciated.
For the overly helpful people out there, all due diligence has been done and this is sound and legal. If anyone has constructive criticism, please send me a PM and don't derail this thread. Thank you.