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eu_cons
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03/04/15 at 13:17:50
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For all those Americans here that live in Southern states I have 2 questions?

How much money you need to open the company?

If you are employed in your own company, how much money you have to pay for social and medical insurance monthly? Or you don't have to pay anything?

So if anyone of you knows that? I'd like to compare taxes for company in EU and in Southern USA.
  

Acting was something I wanted to do since I was 10 and saw my first movie, I was so captured by the action guys. Jimmy Cagney was my favorite. Without realizing it, I could see he had tremendous timing and vitality.

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NCGAL63
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Re: Question
Reply #1 - 03/04/15 at 14:41:57
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I live in North Carolina -
As far as how much it costs to start a company, well that depends on what kind of company and how you want to classify the company ie - individually owned, partnership, LLC, C-Corp or S-Corp. My company is a S-Corp and between Fed and State taxes we pay approximately 45% of taxable income (profit before taxes).  As far as health insurance is concerned, in my company it is $476 per month for an individual and goes up to $1,712.00 per month for Family coverage. Our company is considered a large company so we are required to pay 60% of the employee cost (for full time employees )but it is up to the employee to pay for the family.
  
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Re: Question
Reply #2 - 03/04/15 at 15:01:43
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Aha tnx very interesting.

For big company 476$ this is cca. 400 eur. I have LLC and have to pay for full time employee with minimum wage cca. 300 eur just for health insurance.

We have to pay 100% costs for employee not 60%.

So I have to pay:

minimum wage
+ health and social insurance (almost the same amount as min. wage)
----------------------------------------------------------------------------
To get gross value. Employee gets just minimum wage. The bigger the wage is more you have to pay for soc. and health insurance.

So what do you think? I think you pay less then I.


  

Acting was something I wanted to do since I was 10 and saw my first movie, I was so captured by the action guys. Jimmy Cagney was my favorite. Without realizing it, I could see he had tremendous timing and vitality.

Gene Hackman
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Re: Question
Reply #3 - 03/04/15 at 16:06:25
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In the US we have to withhold Social Security and FICA/MEDICAID and match those - so lets say an employee makes $1,000 the company would be liable to pay $76.50 to the federal government for that employee's pay. That is over and above the 60% for the health insurance we are obligated to pay from a private health insurance co. such as Blue Cross Blue Shield.

So take the $1,000 a week paid employee-
He will cost our company an extra $142.40 / week
to to be in compliance with the federal government.
Like you, the more the employee makes the more I have
to pay the federal government for Social Security & medicare since it is 7.65% of the employee's gross pay.

So to answer you I think you are paying less for your health insurance but paying more to the government and we are reversed, we are paying more into health insurance and less to government. We are both getting screwed!
  
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Re: Question
Reply #4 - 03/04/15 at 16:19:16
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You are right I pay more for the government. I think you really must change the president.

But why didn't Bush lower taxes?
  

Acting was something I wanted to do since I was 10 and saw my first movie, I was so captured by the action guys. Jimmy Cagney was my favorite. Without realizing it, I could see he had tremendous timing and vitality.

Gene Hackman
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