I became confused on trying to estimate taxes.  That's because I wasn't thinking correctly - this isn't my forte, I've never done this before.  

I was thinking, ok, I'm going to take home X amount per month and then pay the taxes out of the business account. 

But it doesn't work that way, lol and I don't know why I was thinking that.  Whatever you get paid, you are taking the taxes out of that pay, not paying yourself out of the checking account your net pay and paying the IRS out of the business account.

Which in turn threw my numbers all off.  All I know is, if you want to take home over $44,725? You jump into a much higher tax bracket.  The tax rate goes from $1,100 to $5,147.  And you also pay 22% of a predetermined amount they have on the tax sheet - a jump from 12%.  I'm definitely not going to try taking over the $44,725 amount.  I can't really even do $44,725 net pay anyway.  

No, I just realized I am in error again. Not in my favor tho, I can take more, in fact, I should be able to afford taking all of that $44,725 per year which amounts to $3,727 per month gross pay and take out 428.91 per month of that pay stuffed into an account I'm going to open to put that money aside for Federal taxes, property taxes and insurance.  

No, that isn't right either.  I will have to set aside the federal taxes in a personal account and the property and insurance in a business savings account.  Good thing I'm writing this out.  

Okay. I am going to lower it to somewhere around 40k.  This is per year - starting now, tho, not from the beginning of the year.  It's crazy that I have to pay taxes on no earnings, but the estimated tax apparently forces me to average it out for 4 quarters.  I'm just groping my way through this, I have to send the IRS something by tomorrow.  

I'm pretty sure the CPA is going to tell me to switch the LLC to an S-Corp and somehow, that reduces the tax liability - substantially I am hearing and reading.  I don't know how to switch it and I have no idea what the tax table looks like for that.  I am looking off of the standard IRS tax estimation sheet for single taxpayers sole proprietor.  

Ok, see? I have no idea what I'm doing.  I'm calculating taking 3 grand per month from the beginning of the year.  But I haven't taken anything this year.  So if I want 3 grand per month going forward, the calculation is only for 9 months including April, which means $27,000 per year for this year.  

Next sheet of paper, please.  I've got all kinds of hand written calculations and now realized that none of those are correct, lmao.  

Alright, now I'll have to do calculations until I get my net pay around 3 grand per month.....tic tock tic tock.....that's it. I can take $3,400 gross pay per month, pay $287.66 in taxes (thank God Texas doesn't have an income tax) leaves me $3,112.34 net per month.  That in turn leaves me almost 3 grand per month left over for operating expenses.  

I literally have no idea how much I'm going to be paying per month for electricity once we get into summer, I'm guess $130 per lot that's $1,820 per month just for electricity.  That may be high, it could be less and could be much less.  I have no clue, there is no way for me to tell except going by other park's giving their averages.  These people for some reason won't tell what they actually spent on any given month for electricity, not sure what the big secret is, the page is for owners and managers only. 

Whatever. We get done with June and I'll flat post it on there what the entire electric bill was for however many units I have there at the time with AC units running all day long. I will give the number of units with 2 ac's and the number of them with 1 and break it down to average per lot.  

But it's this unknown with electricity that makes it next to impossible to guess how much I can pay myself and still pay bills plus put aside money for expenses.  This is why I want that Hipcamp thing up and going. It may draw people in - it may not.  I will set up 2 of them to start with and see what happens. I have enough wiring to set up 4, maybe 5 of them.  I'm going to try to stay at $15 per night and see what happens.  If someone is traveling through and sees a place offering basic electricity, a water spigot if they need one by the shed and a place to take a shower and use the toilet for $15, I figure I'm going to get some people in there.  

Well anyway, I have decided how much I will pay to the IRS so that check is going to come out of my personal account and I am going to simply write myself a check from the business for 2 grand to start with and dump that into personal account. I want a paper trail, but I don't have to go to the bank to do it.  Just write the check and do the online check deposit.  My business account has ample money in it to pay me at least 2 grand right now and still have plenty to pay whatever other bills are coming in this month, but the biggies have already hit.  

Those pay checks will go into a special folder and they will all get dumped in there religiously, there will be no guessing at the end of the year how much I paid myself.  Although, I should be able to set up Quickbooks to show a paycheck to myself.  So that's it, write out a personal check for $863, put it in an envelope along with the estimated Tax voucher and send it to the IRS.  The whole point is to stay out of tax trouble. If the CPA can reduce my taxes, fine.  What I pay tomorrow will not be repeated the next time, it will be a lower payment. 

That's only if my calculations are correct.  I'll show the man what I did and he can agree with it or tell me I'm wrong, either-or is fine by me.  

Now then, now that I finally have this figured out to the best of my ability, I can get that dumped into the mail tomorrow.  

It is done. Finally. Good, bad, ugly, right or wrong, it's done.  Pay myself tomorrow, this was enough brain activity for one day.  I have plenty to do tomorrow and going to try to get up early enough to get to the post office, drop this letter to the IRS off and get over to the property.  

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Untenable idea.  No vehicle access tomorrow, I went to the post office tonight instead.  Then to Kroger's for water and ice, over to the property - hadn't been over there today anyway - put some water bottles in the cooler and filled it up with ice.  That will keep at least 2 days.  We are done with this tax junk for now, have to pick it back up again when I go to the CPA

I'm very tired.  I didn't do a lot of physical stuff today, but what with being up 3/4's of the night last night eating too much pizza and this brain exercising today? Toast.  It's almost 11:00 pm anyway, past my bedtime.  I've got my pay ride coming over at 9:00 am - I'd go earlier and I might but I don't want to set an expectation I can't meet. If I sleep tonight, I will sleep in in the morning.  I don't have to worry about water and ice, just take some food, the laptop and an extra pair of clothes. If I'm doing the sewer line, I'm getting dirty.  I don't want to be dirty getting back into her car to go home. 

With that, I'm off to sleepyland.