Posted on 04/07/2018 8:24:48 AM PDT by AbolishCSEU
So we are in our second year of my husband's HVAC biz. He is busy like crazy (one man band) And I have a "regular" 40+ hour job with benefits that keeps the lights on and the mortgage paid.
Hubs still pays MASSIVE "child" support to his ex (goes to 21 here and not 18)
I have about 4-5 more years before I can technically retire and we can move out of the state. And of course, the personal relationship suffers when you are the business owner/boss. . .
Anyone else have this experience?
(end pity party rant)
He also has a 2nd part time job for 8 hours that covers about half the “child support” and I also do work on the side.
Liberals rant about corporate power then make it impossible to compete against it.
That does sound horrible. I’m sorry it’s working out like this. I hope you guys can find some trick or addition to the business that snaps it out of its current success level into something phenomenal. It’s your only hope, with the NY taxes and all that child support.
I am trying to stay positive about it but it feels as though we are working ourselves to death for a pittance after NYS gets it’s share!
Seven+ years owning running my own business. Six days a week. No vacation beyond a day or two here or there. No change in sight. I feel your pain.
Sometimes “being your own boss” just means you’ve created a crappy job for yourself.
Oh well, the good news is that you can work half days anytime you want . . . whichever 12 hours of the day you want to work.
Living the dream. Living the dream.
I’ve heard of NY (New York) and NYC (New York City) but where is NYS?
I would never expect to see a post like yours from the spouse of an HVAC contractor.
I don't do it for the money. I do it so I can pick my own clients and escape the stifling idiocy of a corporate bureaucracy.
Just do like google does and create a service company in the bahamas that charges your new york company... all of a sudden you will have no profit in the state to tax.
I wouldn’t mix child support into the equation. That is not the fault of the business or whether it is making good money or not.
And work anytime you want. Christmas, New Years or any other holiday you want!
We lived in upstate NY when I was a kid. One of Dad's close friends lived on Texas Lane and he switched three of his mailbox address letters around to read "100 Taxes Lane." I was about 12 at the time (this is 1963!) and I can still hear them complaining about all the taxes they sent to Albany which then sent their money to NYC. I didn't understand it at the time nor did I know that was my first introduction to out-of-control insane Democrat government.
We left NYS, went to Missouri for 7 years, and I found my way to California which was stable, conservative and prosperous at the end of the Reagan governorship era. At least here we have the "Jarvis-Gann Amendment" (aka Proposition 13) which has protected us on property taxes (but state and local taxes are punishingly high).
Good luck to you. You have a rough situation. Things just aren't right when you feel you are working for the damnable government instead of yourself.
You are very brave to operate a small business. I doubt I could do it, which leaves me workin’ for “The Man.”
Many years ago I started a business. My wife kept her job. As things got busy, she quit her job (against my wishes) and stayed home answering the phone, dealing with the kids, and doing the in-house part of the business.
Well, those were some of the happiest years we’ve ever had. We struggled sometimes financially, and weren’t rich by any means, but we were pretty damn happy. She would even get up early and make me poached eggs in the morning.
I don’t know, that was our experience, but it worked.
Is your husband charging enough for his services?
I remember their ads to come to NY for a great deal for businesses.
Sounds like they lie.
I live in Western NYS and i’m just on the way to the plant to mfg. seats to install at a customers on Monday morning, on my time off i’m leaving at 4:00 am to go to Maryland to pick up a dually truck I bought to flip.
So yes Virginia the joys of single business ownership in NYS are endless.
A few things:
1. Bite your lip about the child support. You married into this situation of your own free will. (I’d assume?) It is what it is. Let it go and I’ll bet you’ll see a lot of tension go away between the two of you, too! (Speaking from experience, here...)
2. Get yourselves a good tax man. There are a number of LEGAL ways to get around outrageous taxes in any state. How do you think the rich keep so much of their money? Employ the same strategy for yourselves! I’ve always had ‘multiple streams of income’ and there are tons of ways to save on taxes. I actually made it a priority of mine to do so. I retired at 57 partially due to that. And, also having no debt and living below my means and making $ in real estate (easier to do in the Midwest, for sure!)
3. Look into cutting expenses wherever you can to create a better cash flow each month and/or pay off any debt that you have. Really simple things like packing lunches, cutting out take-out coffee, lowering your thermostat, changing insurance policies/companies, cutting out Dish or Cable TV, staying out of restaurants...there are dozens of places on-line that have suggestions. It truly pays off in the long run! Also, make a plan and show your husband what you’re doing to help HIM be successful, but not in any sort of condescending way. Be a Team Player!
4. Dave Ramsey. My hero! Look him up.
5. Good Luck!
That is exactly why hubs wanted his own business.
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