Paying one self for their own labor

[Donald]

How does someone receive the digits to have turned into cash, paying themselves for their own labor?
Im a handyman and depend on homeowners to have enough of their cash to pay for my labor.
I should be able to access my own cash for my own labor but don't know how.

[MyITGuy]

Have you discussed this with your accountant?

Generally, its the Homeowner who pays you (Cash, Check, Credit Card) where the funds get deposited into a business checking account so you can record it as income.
You then pay yourself from the business bank account as recommended by your accountant and company type specify.
Dont forget to pay the IRS their fair share along the way.

[rjoyce3582]

How does someone receive the digits to have turned into cash, paying themselves for their own labor?
Im a handyman and depend on homeowners to have enough of their cash to pay for my labor.
I should be able to access my own cash for my own labor but don't know how.

So are you trying to put yourself on the payroll and get routine checks?

[Donald]

Have you discussed this with your accountant?

Generally, its the Homeowner who pays you (Cash, Check, Credit Card) where the funds get deposited into a business checking account so you can record it as income.
You then pay yourself from the business bank account as recommended by your accountant and company type specify.
Dont forget to pay the IRS their fair share along the way.


I am not just receiving the funds, I have to work first to create them, since coming from my labor, they do not fall in the "income" category.
I should be able to receive my own account numbers I back with my labor to have turned into cash without the homeowner having to pay me from their labor.

Value for the account numbers that make up a paycheck, are coming from labor.

The homeowner works and creates the value for their own paycheck.
Likewise, I will be working to create the value to create my own paycheck.
When the homeowner pays me with their 'labor-backed' cash, the cash becomes backed by labor twice but can only be counted as once.

I believe the account numbers that make up someone's paycheck after they work to create value for the numbers, is coming from their Social Security account created at birth.

[Donald]

So are you trying to put yourself on the payroll and get routine checks?

Where does the payroll come from?

[Paul]

Where does the payroll come from?

I’m a little confused. Is this a theoretical discussion about the value of labor or about how to manage bank accounts?

I think if you replace the word “labor” with the word ‘service” it may make more sense. If you provide a service , whether its plumbing, computer work, auto mechanics or landscaping, you are paid for the service. Labor, in itself, has no value other than the results that it produces.

How the customer came upon the cash to pay for your service is irrelevant. I’m not sure what you mean “backed by labor”.

I’m also not sure what you mean by “paying for your own labor”. Do you mean working around the house and paying yourself from your business account? Or do you mean paying your business out of your pocket for work around the house? Either doesn’t seem to make much sense other than to manipulate the books.

[Donald]

I’m a little confused. Is this a theoretical discussion about the value of labor or about how to manage bank accounts?

I think if you replace the word “labor” with the word ‘service” it may make more sense. If you provide a service , whether its plumbing, computer work, auto mechanics or landscaping, you are paid for the service. Labor, in itself, has no value other than the results that it produces.

How the customer came upon the cash to pay for your service is irrelevant. I’m not sure what you mean “backed by labor”.

I’m also not sure what you mean by “paying for your own labor”. Do you mean working around the house and paying yourself from your business account? Or do you mean paying your business out of your pocket for work around the house? Either doesn’t seem to make much sense other than to manipulate the books.

How can this be confusing to you?
You don't replace the word labor with the word service.

Companies provide the Service, employees provide the labor for that Service.
What do you think backs the account numbers an employee is paid with? They don't back themselves.

When a Company holds the account numbers to pay its employees with, the account numbers do not have value 'before' the employees work, but receive value 'after' employees work.
The Company is providing the Service, the employees are providing the labor for that Service. The employees do NOT provide the Service!

If I do handyman work and want to start my own Business, then I would be providing the Service but also would be providing the labor for that Service if I was the one actually doing the labor.

There should be a way to receive pay through my Social Security number (amount) created at birth for this purpose.
When employees are hired, Companies use their Social Security number (amount) to pay its employees with.

Our "monetary" system is only made up of account numbers coming in, or going out, that's it.

When we have the account numbers making up our paycheck, turned into cash, the cash is fiat currency. This fiat doesn't receive its value from the printer. The value for the fiat comes from the same place the value for employees paychecks comes from-> labor.

Mind boggling to me many folks still refer to this as "money".

[huggytree]

hire an accountant, get quickbooks

thats all there is to it

[Wozcreative]

I think this is a theoretical discussion and not a question of how to pay himself from the money his business incurs. I think Donald is taking monetary concepts and theories and trying to flip them around using definition of words and trying to attach especific meaning to it (IE what is labour? what is service? etc.). Unfortunately this is a small business board and we are assuming you need help on a business question so your question comes off confusing to everyone because it's not clear what the purpose of this topic is from the get go.

[Donald]

I think this is a theoretical discussion and not a question of how to pay himself from the money his business incurs. I think Donald is taking monetary concepts and theories and trying to flip them around using definition of words and trying to attach especific meaning to it (IE what is labour? what is service? etc.). Unfortunately this is a small business board and we are assuming you need help on a business question so your question comes off confusing to everyone because it's not clear what the purpose of this topic is from the get go.

I'm not trying to flip anything..I trying to put the right meanings and the right words back where they belong.
It amazes me how confused people really are...while thinking I am the one that is confused.
I do need help with how to start a Business but if you are talking "oranges" and im talikng "apples", how are we going to communicate?

There is no need to start a Business that feeds off of each others labor.
That's how it is rigged...making us feed off of each others labor thinking that is the normal way to be paid, but it isn't normal.

Ill give an example:
If you buy tires and have an auto mechanic install them, they will charge you for tires and labor.
They should not be charging you labor to pay for the mechanics labor, because the mechanic is working to create his own paycheck just as you work to create your own paycheck!

Labor creates wealth.

But they will act like you need to pay for the mechanics labor and they will keep your labor payment for Company profit.
Each of us that labor, 'create' our own paycheck.


The homeowners I work for, also create their own paycheck.

Homeowners should not have to use their labor to pay for my labor.

Confusion has been injected in this system for so long, the average Business person cannot even comprehend what is simple to comprehend.

Another example
Treasury dept pretends homeowners need to pay property tax because it pays for the labor of teachers/firemen/police.
But have you thought about when the treasury dept collects property taxes from teachers/firemen/police, who's labor are they paying for??

Teachers/firemen/police are working to create a paycheck just like other homeowners are working to create their own paycheck.
There is no need to collect someone's 'labor- backed' cash to pay for someone else's labor.
Its just another deception to profit from.

There is no pot of gold at the end of a rainbow. There is no "money" being stored in a warehouse waiting to pay someone.

Its account numbers...backed by labor, that's it!
Confusion spreads, and when someone finally tries to explain, they are the one that appears to be confused.

[Fulcrum]

Donald,

I think the best thing for you to do is to just go out and start running your business how you see fit. It appears that you have spent too much time in books trying to find loopholes rather than utilizing your skills to create the value you seem to value.

I've responded in other threads, but I think I'm done with this discussion until you get some better understanding of business, finance and economics.

[Donald]

Donald,

I think the best thing for you to do is to just go out and start running your business how you see fit. It appears that you have spent too much time in books trying to find loopholes rather than utilizing your skills to create the value you seem to value.

I've responded in other threads, but I think I'm done with this discussion until you get some better understanding of business, finance and economics.

I am trying to Utilize the Social Security Account created for me at birth.

Example:
Employee gets a job, the Company uses the employees Social Security Account to obtain the account numbers that will make up the employees paycheck "after" the employee works to create value for those account numbers.

If you believe we are paid with "money" then you may not understand how account numbers make up a paycheck.

If I could access my Social Security account to be paid from...then I wold not need to be paid from the homeowners labor.
Homeowners would only need to pay for supplies, not my labor.

This means I would have more work.

[Paul]

Are you saying that you want to be paid from the money that you have paid in to social security rather than from the customer? You are going to deplete your social security account so customers get your work for free? Eventually your SS account will be depleted and there will be nothing left in it. I honestly don’t get it.

Me thinks you are putting us on.

[Freelancier]

If I could access my Social Security account to be paid from...then I wold not need to be paid from the homeowners labor.

You are mistaking Social Security benefits with a bank account somewhere that is in your name. The reality is that Social Security is a defined benefit pension (I'll leave the explanation of that to Google) and not a bank account. You are not permitted to withdraw money from it, you get a defined benefit if you reach retirement age.

It's not an account for you to do with what you want and never was. If you want to self-fund a retirement plan that lets you invest in what you want, you need to create your own self-directed IRA.

[MyITGuy]

Me thinks you are putting us on.

Theres a name for it...Internet Troll.

While I've kept an eye on these threads, I'm not responding to the OP's posts as nothing will be accomplished.

[Freelancier]

Theres a name for it...Internet Troll.
I was thinking they all needed to be moved to the water cooler section.