It is my understanding that if your business is structured as a sole propietor then your SSN# will be your employee ID as long as you don't have any other employees. The company earnings/profits will be added to any other income source you have to calculate your total taxable earnings.
Allot between 12 and 25 percent of your income to personal items and activities as well as groceries. This includes entertainment and beauty services such as hair salons and barber shops. Two to 10 percent can be expected for personal expenses while the remaining 10 to 15 percent can be spent on food.ercentage guidelines help with money management. Developing percentage guidelines for your family income is vital to a family budget. This allows you to spend what is needed without going over the allotted amount that you have set for each category of expenses.
If you consider what's a typical percentage for the average household versus the percentage of your income you're spending in each category, you can identify areas where you may be overspending and make the necessary corrections.inancial experts suggest that your utility expenses should be approximately five to 10 percent of your monthly income, but the average American household is already at the higher end of that scale, coming in at eight percent of the total monthly income.