Self employed as a consulting actuary

[Westley]

Originally Posted by figure 8

It sounds like that rep is a good salesperson! Paying the IRS quarterly tax online is pretty easy though, especially after you've done it once (I can't speak about any state or local tax though). The tricky thing is that the quarterly dates are not true quarterly dates. 4-15, 6-15, 9-15, 1-15. As long as you have a reminder system in place, it shouldn't be a problem though.

Yup. Also, old rules were that you didn't have to pay the 1-15 quarterly payment if you filed by 1-31. Don't think that has changed, but check it out yourself if you're going to use that.

[tommie frazier]

Originally Posted by Westley

That's not the problem I'm asking about. He's being told he can pay $120 per month to solve a problem, but it's not obvious to me what that problem is.

Reading f8's post, maybe he addressed it, that makes sense. Yes, it can make sense to have multiple accounts (can do this at the same bank or different banks), and then you're moving from one to the other. Over and above having separate accounts to track things, what other problem do you have that ADP would solve?

the 120 wasn't a problem to me.

I was putting myself in the cheap actuary shoes. he's a one paycheck company with 3 things to track. he recoiled at the 120 per month for the 3 calcs. and maybe adp does more for it, I have no idea. But as described, I guessed the cost for the level of service and complexity were the issue to our local business owner.

[GolfActuary]

Originally Posted by T-roy

ADP wants to charge me $120 a month to pay myself. That seems excessive. They just keep my taxes and distribute my child support.

What else can I do? Add the service on Quicken maybe? Or just set upon my own excel sheet and be very careful

My business checking account allowed me to setup weekly recurring payments to my personal checking account. I use quickbooks & label transaction as "Owner's Pay & Personal Expenses."

Haven't hit 1st quarterly tax payment yet (2017 was breakeven) but plan to by 4/15 for Q1.

[T-roy]

How about checks? I'd like to have a booklet of them, like the three to a page, and add my logo. Vista Print didn't allow me to add a picture, and Quickbooks are really expensive.

Where else do you recommend to go for checks?

1/18, got my first paid invoice! Yeah! Im in business!!!

[yoyo]

Originally Posted by T-roy

How about checks? I'd like to have a booklet of them, like the three to a page, and add my logo. Vista Print didn't allow me to add a picture, and Quickbooks are really expensive.

Where else do you recommend to go for checks?

1/18, got my first paid invoice! Yeah! Im in business!!!

[figure 8]

Originally Posted by T-roy

How about checks? I'd like to have a booklet of them, like the three to a page, and add my logo. Vista Print didn't allow me to add a picture, and Quickbooks are really expensive.

Where else do you recommend to go for checks?

1/18, got my first paid invoice! Yeah! Im in business!!!

Congratulations!

Do you realistically plan to write many checks? I think I've written 4 business checks since I started 4 years ago, so I just use the generic checks that my bank provides.

[Harbinger]

Are you in LTC consulting? If yes, you could get very busy, very soon.

[celalta]

There is an extra period hanging below the end of your about me section, like you had another paragraph and deleted it, but missed the punctuation.

Good luck with everything!

[Kenny]

Originally Posted by T-roy

Where else do you recommend to go for checks?

2005?

1/18, got my first paid invoice! Yeah! Im in business!!!

[mathmajor]

I used to do actuarial "consulting" for a large "consulting firm" where we did super simple math to set health insurance budgets as much as $1B. Our annual fees were around $100k for just this with follow-ups, presentations, travel etc.

I feel like I could market myself out to undercut my former employer's fees by a fraction and do almost as good of a job. Just charge like $500/hr, have an E&O clause, make like $10k per client per year.

No?