Posts Tagged ‘Business’

Creating Job

December 13, 2011 1 comment

The President, as I’m writing this, is touting his “Jobs Bill” to the tune of $447 Billion. I’m creating a job right now and have some advice for him.

My wife and I are both very active. She works at a job that requires travel and I am a student actively seeking part-time work and consulting jobs. We decided that it would best to hire a Child Minder (don’t use the “N” word) to keep an eye on our precocious tyke so we wouldn’t be scrambling during our busy periods. Through a providential intercession we found a wonderful woman and my wife and I had a choice when it came to hiring her.

We could:

"Mr. Obama, tear down this wall!"

  • Obtain an EIN from the IRS
  • Fill out the Ohio incorporation paperwork and file with Secretary of State (costing a fee)
  • Determine for what Ohio jurisdiction(s) we would be withholding tax (because you need this for the Ohio SIT)
  • Determine our business type (it is not as straightforward as it sounds)
  • Fill in the appropriate Ohio forms (e.g. Withholding Agent Registration form)
  • Obtain a state EIN, also known as an SIT
  • Fill out an application to a payroll service for bi-weekly payment/tax withholdings escrow handling
  • Obtain an Ohio Unemployment Employer account number (which is completely separate from the above Ohio SIT)
  • Submit a request for a Municipal Tax Account with the City of Columbus
  • For each of the above accounts, update with the information concerning our one (1) employee. We also need to submit a “New Hire” form with the Ohio New Hire Reporting (so they can track her incase she owes child support)
  • Apply and pay for workman’s compensation coverage
  • Print and post the workplace notices as required by state and federal law (see photo)
  • AND every other week file hours with the payroll service where they deduct her wages and we also pay FICA, Medicare, workman’s compensation premiums and FUTA along with a fee to the payroll service.

OR we could:

  • Hand her cash from the ATM at the end of each week.

It’s not exactly a “Where’s Waldo” exercise to spot where government might give small businesses some help.