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RE: the weekend started off good - until I paid my taxes - 4/8/2008 8:32:10 AM   
hsagnev


Posts: 188
Joined: 8/11/2005
Status: offline 		I've been taking various consulting jobs for the last year and a half. Some places figure what you owe in taxes and pay that portion for you and other places do not.   About two quarters back I got my EIN and did not pay taxes on anything I earned under that name.  I did expect to cut a check for this so made sure cash was available, but there were other surprises as well.  It led to a bad mood that day. Well, anyway, it is done (or so I think/hope). 

(in reply to hsagnev)
Profile   Post #: 21
RE: the weekend started off good - until I paid my taxes - 4/8/2008 8:37:35 AM   
Pyrrsefanie


Posts: 1222
Joined: 9/18/2007
From: NEW HAMPSHAAAAAAH!
Status: offline
quote:

ORIGINAL: hsagnev
and, well, haven't been paying my taxes (until now).


So what you're saying is, you're irresponsible when it comes to your taxes, and when it comes back to bite you in the ass you complain and bitch and moan about it to the rest of us, many of whom would give our left testicle/ovary to be making six figures a year.  And expect sympathy.




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Ти артистична в неволі,
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Ти синтетична до болю

Read my series, Taking Jessica, on http://www.akashaweb.com !

(in reply to hsagnev)
Profile   Post #: 22
RE: the weekend started off good - until I paid my taxes - 4/8/2008 8:39:31 AM   
KatyLied


Posts: 13029
Joined: 2/24/2005
From: Pennsylvania
Status: offline 		OP-
Do you not have the option of paying taxes quarterly?  Or adjusting the amounts on your W-4 form.  Or were you paid on a 1099?

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(in reply to Pyrrsefanie)
Profile   Post #: 23
RE: the weekend started off good - until I paid my taxes - 4/8/2008 9:03:34 AM   
faerytattoodgirl


Posts: 5824
Status: offline 		there is a show called america's most smartest model.  apparently the title is said wrong.... how is it wrong?  the show is the funniest shit you ever seen though omg.

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Profile   Post #: 24
RE: the weekend started off good - until I paid my taxes - 4/8/2008 9:05:41 AM   
sirsholly


Posts: 42360
Joined: 9/7/2007
From: Quietville
Status: offline
quote:

ORIGINAL: Pyrrsefanie

quote:

ORIGINAL: hsagnev
and, well, haven't been paying my taxes (until now).


So what you're saying is, you're irresponsible when it comes to your taxes, and when it comes back to bite you in the ass you complain and bitch and moan about it to the rest of us, many of whom would give our left testicle/ovary to be making six figures a year.  And expect sympathy.





can't help but wonder if a large part of the 16k is for back taxes?


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(in reply to Pyrrsefanie)
Profile   Post #: 25
RE: the weekend started off good - until I paid my taxes - 4/8/2008 9:12:13 AM   
lalbobbilynn


Posts: 483
Joined: 6/11/2006
Status: offline
quote:

ORIGINAL: hsagnev

Yeah, I'd definitely say that when I finished up with my taxes on Sunday and actually had to write a check for $16k to  be   mailed out first thing in the morning (today, Monday) that put me in one of the most foul moods I've ever been in for a long time.  Writing that check hurt and it wasn't the good kind of hurt.

Am pleased You are in superior mood to Sunday/Monday!! At least folks are talking with You now Sir.
b.~

(in reply to hsagnev)
Profile   Post #: 26
RE: the weekend started off good - until I paid my taxes - 4/8/2008 9:12:25 AM   
Pyrrsefanie


Posts: 1222
Joined: 9/18/2007
From: NEW HAMPSHAAAAAAH!
Status: offline
quote:

ORIGINAL: sirsholly
can't help but wonder if a large part of the 16k is for back taxes?



Probably is.  He's lucky he didn't get thrown in Federal Prison, maybe then he'd really have something to cry about.

Also, for a synopsis of this thread and the direction it's heading in, please consult the following videos:

http://www.youtube.com/watch?v=BB4aMsGCPQ8
http://www.youtube.com/watch?v=UBDAeO7_XTc
http://www.youtube.com/watch?v=B9-eAYHooUo

CRAWLING IN MY SKIN
THESE WOUNDS THEY WILL NOT HEAL




< Message edited by Pyrrsefanie -- 4/8/2008 9:13:42 AM >

_____________________________

Ти саркастична, це – доля,
Ти артистична в неволі,
Ти симпатична в цій ролі,
Ти синтетична до болю

Read my series, Taking Jessica, on http://www.akashaweb.com !

(in reply to sirsholly)
Profile   Post #: 27
RE: the weekend started off good - until I paid my taxes - 4/8/2008 9:18:09 AM   
faerytattoodgirl


Posts: 5824
Status: offline 		i think the 16K in taxes is cause of 32K he won at a lottery or casino...you pay a shit load in taxes on that...maybe it was a price is right win where he won a car.

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I did not reply to your cmail.
I am flawed.
Imperfect.
MUST SPANK!!!
SPAAAAAAAANK!!!

(in reply to Pyrrsefanie)
Profile   Post #: 28
RE: the weekend started off good - until I paid my taxes - 4/8/2008 11:55:21 AM   
hsagnev


Posts: 188
Joined: 8/11/2005
Status: offline
quote:

ORIGINAL: Pyrrsefanie

quote:

ORIGINAL: hsagnev
and, well, haven't been paying my taxes (until now).


So what you're saying is, you're irresponsible when it comes to your taxes, and when it comes back to bite you in the ass you complain and bitch and moan about it to the rest of us, many of whom would give our left testicle/ovary to be making six figures a year.  And expect sympathy.





It seems I can never say anything right.

(in reply to Pyrrsefanie)
Profile   Post #: 29
RE: the weekend started off good - until I paid my taxes - 4/8/2008 11:57:16 AM   
hsagnev


Posts: 188
Joined: 8/11/2005
Status: offline
quote:

ORIGINAL: faerytattoodgirl

i think the 16K in taxes is cause of 32K he won at a lottery or casino...you pay a shit load in taxes on that...maybe it was a price is right win where he won a car.


It was due to "profit" from my "business" - according to my schedule C worksheet anyway.

(in reply to faerytattoodgirl)
Profile   Post #: 30
RE: the weekend started off good - until I paid my taxes - 4/8/2008 12:01:56 PM   
hsagnev


Posts: 188
Joined: 8/11/2005
Status: offline
quote:

ORIGINAL: sirsholly

quote:

ORIGINAL: Pyrrsefanie

quote:

ORIGINAL: hsagnev
and, well, haven't been paying my taxes (until now).


So what you're saying is, you're irresponsible when it comes to your taxes, and when it comes back to bite you in the ass you complain and bitch and moan about it to the rest of us, many of whom would give our left testicle/ovary to be making six figures a year.  And expect sympathy.





can't help but wonder if a large part of the 16k is for back taxes?



Uhm... you could just ask me what it was for and I'd tell you..... *shrug*

I don't know what "back" taxes are exactly, but what paid for was tax on money I earned in the year 2007 -  between (roughly) September through December  (and also in January).

(in reply to sirsholly)
Profile   Post #: 31
RE: the weekend started off good - until I paid my taxes - 4/8/2008 12:04:27 PM   
hsagnev


Posts: 188
Joined: 8/11/2005
Status: offline
quote:

ORIGINAL: lalbobbilynn

quote:

ORIGINAL: hsagnev

Yeah, I'd definitely say that when I finished up with my taxes on Sunday and actually had to write a check for $16k to  be   mailed out first thing in the morning (today, Monday) that put me in one of the most foul moods I've ever been in for a long time.  Writing that check hurt and it wasn't the good kind of hurt.

Am pleased You are in superior mood to Sunday/Monday!! At least folks are talking with You now Sir.
b.~


That was the general point of this thread although we did stray quite a bit into excerpts of my financial profile.

(in reply to lalbobbilynn)
Profile   Post #: 32
RE: the weekend started off good - until I paid my taxes - 4/8/2008 12:09:23 PM   
hsagnev


Posts: 188
Joined: 8/11/2005
Status: offline
quote:

ORIGINAL: faerytattoodgirl

i think the 16K in taxes is cause of 32K he won at a lottery or casino...you pay a shit load in taxes on that...maybe it was a price is right win where he won a car.


WEll, you pay a "shit load" of taxes on just wages.  Back when I was a regular employee they'd take out $500 per week for taxes and I wouldn't get much back at the end of the year (under $1000 - well more like under $500).   Yup, you pay and pay.

(in reply to faerytattoodgirl)
Profile   Post #: 33
RE: the weekend started off good - until I paid my taxes - 4/8/2008 12:46:04 PM   
TheGorenSociety


Posts: 116
Joined: 2/13/2005
Status: offline 		Just thank God you do not have to pay AMT instead.If you are running as a sole proprietor, why are you not a legal entity IE a S Corp. or a LLC. ?

(in reply to hsagnev)
Profile   Post #: 34
RE: the weekend started off good - until I paid my taxes - 4/8/2008 1:06:57 PM   
Archer


Posts: 3207
Joined: 3/11/2005
Status: offline 		Well you're a step ahead of many who have no clue how much they pay only how much they get back from the government.
Not a financial step but an educational step you actually might know how much they took from you for the year.
Most folks don't even get that number in their head.

But as someone else said here already money spent on an accountant is money well spent.
I pay an accountant to do our taxes ever since I figured them and then had an accountant figure them and ended up 3 times better than the money spent to hire the accountant. I'm sold on the idea.

For the other folks, be sure to take the time to look at the total taxes paid line in your return and pay as much attention to it as you do to the refund or additional amount due.

(in reply to TheGorenSociety)
Profile   Post #: 35
RE: the weekend started off good - until I paid my taxes - 4/8/2008 6:39:18 PM   
TheGorenSociety


Posts: 116
Joined: 2/13/2005
Status: offline 		We work very closely with our CPA, he is worth every penny.Finding a good one is not easy, make sure you check them out. My father did not fare so well with his old accountat, and ended up almost losing his business to the IRS over a 5k mistake ended up with penalties and interest by the time it was caught  well over 200k. We found out after the fact this accountant  had several bad policies in place he did sloppy work.The accountant got out of it he died.

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Profile   Post #: 36
RE: the weekend started off good - until I paid my taxes - 4/8/2008 7:04:40 PM   
Real0ne


Posts: 21189
Joined: 10/25/2004
Status: offline
quote:

ORIGINAL: KatyLied

I'd say better a payment plan than a garnishment.  The IRS can take almost anything they want.  It's best to play nice with them.



That doesnt change how they play with you however.




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Profile   Post #: 37
RE: the weekend started off good - until I paid my taxes - 4/8/2008 7:09:45 PM   
Real0ne


Posts: 21189
Joined: 10/25/2004
Status: offline
quote:

ORIGINAL: hsagnev
It was due to "profit" from my "business" - according to my schedule C worksheet anyway.


come on man, take a quick look at that sced c and being an engineer you should quickly realize what you need to do to get those numbers to a zero balance.





_____________________________

"We the Borg" of the us imperialists....resistance is futile

Democracy; The 'People' voted on 'which' amendment?

Yesterdays tinfoil is today's reality!

"No man's life, liberty, or property is safe while the legislature is in session

(in reply to hsagnev)
Profile   Post #: 38
RE: the weekend started off good - until I paid my taxes - 4/8/2008 8:03:05 PM   
DesFIP


Posts: 25191
Joined: 11/25/2007
From: Apple County NY
Status: offline 		One of the things a good accountant will do is have you set up as a business, that way you can deduct the room in your house you use to run the business. If it's a six room house, then you get to deduct one sixth of the cost. You get to deduct printer paper, fax cartridges, new laptops, cell phone, etc. Plus the quarterly payments are a lot easier to do.

But take all your stuff to an accountant. I'm betting he can redo the taxes and file an amended return that will get you back a fair amount.

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(in reply to Real0ne)
Profile   Post #: 39
RE: the weekend started off good - until I paid my taxes - 4/8/2008 8:09:42 PM   
Arpig


Posts: 9930
Joined: 1/3/2006
From: Increasingly further from reality
Status: offline 		Actually Faery, lottery winnings are tax free in Canada....the interest you make on them isn't though

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Profile   Post #: 40
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