iamacynic37
FoH Honkler - HONK HONK MFr
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Death and... Taxes.
- Thread starter a c i d.f l y
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So......
Just did my initial run on taxes this year. Still needing a few minor documents on interest earned in a few side accounts and whatnot..
But it's looking like I'm going to end up owing somewhere around $7k this year.
Could we move the boog up to happen before April 15th?
Just did my initial run on taxes this year. Still needing a few minor documents on interest earned in a few side accounts and whatnot..
But it's looking like I'm going to end up owing somewhere around $7k this year.
Could we move the boog up to happen before April 15th?
Almost no chance of that given how fucked the IRS's staffing and funding situation is.
I declared a (real) six-figure capital loss from private stock last year with literally no verification and they didn't even blink.
Borzak
Bronze Baron of the Realm
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Mineral right sales you inherited fall into unknown no man land at times. The IRS doesn't offer any "guidance". If it had no declared value at the time it was inherited you don't pay capital gains and it's not taxed as income either. LOT of grey area.
TJT
Mr. Poopybutthole
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I don't see it as failure. That extra $7k I had would have gone into investments and such. Meaning that paying it now, I still keep whatever I made on it while I had it....
In my case I had a lot of Stock RSU's vest, plus being in sales I had an "above quota" year to the tune of around %150 of my quota. Both those combined pushed my income up past what my company takes out as a withholding percentage.
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TJT
Mr. Poopybutthole
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I mean that to me fully min maxed taxes is owing as close to $0 as possible and having a refund as close to $0 as possible.
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This is true so long that your finances accommodate and allow for you to liquidate assets to pay the bill, which is what I'm doing this year. Question is which assets to liquidate.
Right. Obviously you have to do your job and manage your own cash flow. No reason to give interest-free loans to the government to have them do it for you. Same goes for health insurance. For every suite of plans I've ever seen you're significantly better off paying lower premiums with a high deductible and paying out of pocket when you need care.
Much like payroll tax, insurance companies get in before your paycheck lands and abuse human psychology into thinking they're doing you a favor.
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I pay taxes six times a year. My accountant goes through things meticulously each time, documents everything, and by the end of the year has a huge file of that year's taxes. Because I have 5 dependents and a wife, plus I make a metric fuck tonne of donations, I always come out on top to the tune of $15K. A couple years ago we did a voluntary audit, being self employed and making good money is kind of a magnet for IRS audits, and because we did that the IRS likes us, and treats us right. Never a question about what we're doing.
I have to say I am 100% above board on all issues financial. I've seen others who try to cheat just a little and it brings disastrous consequences.
I have to say I am 100% above board on all issues financial. I've seen others who try to cheat just a little and it brings disastrous consequences.
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TJT
Mr. Poopybutthole
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TJT
Mr. Poopybutthole
- 42,788
- 109,220
TJT
Mr. Poopybutthole
- 42,788
- 109,220