I Make Six-Figures but Live Paycheck-to-Paycheck

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 17 May 2023

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel & Jade Warshaw. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is the Ramsey Call of the Day, part of the Ramsey Network.
0:11.0	Justin is starting off this hour in Salt Lake City.
0:14.5	Hi, Justin. What's up?
0:16.0	Hi, how's it going, Dave?
0:17.3	Great, man. How can we help?
0:19.0	I'm trying to be able to afford a house, and I've got a business running that's going
0:24.1	about six figures this year, but I seem to be able to barely afford paying taxes,
0:29.9	and I'm using credit to do that.
0:31.7	So you're just now starting to make six figures?
0:34.7	Yeah, this year will be the first year.
0:36.4	I will cross over that.
0:38.0	Are you working with a tax pro? Are you just ignoring the tax bills when they come? What's
0:42.6	happened here that you've used credit to pay for it? Well, estimated tax payments are every three
0:47.7	months. And when I owe taxes, I get a little nervous about it, so I just pay what I can with my credit limit.
0:56.9	Are you self-employed?
0:58.5	Yeah, I'm self-employed, and I got a part-time job just to cover personal expenses and other stuff, I guess, or food.
1:05.8	Yeah, so you're making taxable income of $100,000 a year?
1:11.1	Yeah.
1:12.2	Okay.
1:13.7	All right.
1:14.3	Well, I mean, your quarterly estimates should be no more than a fourth of your net profit
1:20.6	on your business.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Ramsey Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Ramsey Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.