""DAMN I.R.S."

[79 HUSTLER]

I'm sooo pissed with taxes right nowwww.... Just had to write my Quarterly taxes for $38,000. :mad: :burningm: :burningm: :burningm: :burningm: :burningm: :burningm: :burningm: :burningm: :burningm:
First time I've had to do my quarterly payment, since I have never been the sole owner.. DAAAAMMMMMMNNNNNN...........

[RIPPINGNOLEGSKROKER]

Cheer up, you have to make it to owe it.

[XtrmWakeborder]

Wait you had to pay 38,000? JESUS!!! I feel for you.

[AZKC]

I'm sooo pissed with taxes right nowwww.... Just had to write my Quarterly taxes for $38,000. :mad:
First time I've had to do my quarterly payment, since I have never been the sole owner.. DAAAAMMMMMMNNNNNN...........
Be proud thats more than I make in a year :D

[79 HUSTLER]

Cheer up, you have to make it to owe it.
Very true, but only being the sole owner since jan. and having to pay serious coin for the bus. I'm not seeing the money I should be with the taxes I have to pay. To bad purchasing the bus. is not deductable :yuk: :yuk:

[79 HUSTLER]

Wait you had to pay 38,000? JESUS!!! I feel for you.
Thats not for my taxes for 04, this is for my estimated tax payments for the 05' year. This has to be payed every quarter.... THATS EVERY THREE FRICKEN MONTHS.... :cry: :cry: :cry:

[79 HUSTLER]

Be proud thats more than I make in a year :D
Want a new job... My workers blow right now. Next year we will be right on the river, just think at breaks we can take the boats out for a spin...

[77charger]

thats why i dont own my own bus.I show up to work come in go home take time off when i need it,etc.and dont worry
I dont make enough money to owe 38k though.but enough to get by. :D

[checkster]

I thought that quarterly form they sent me was optional............you guys really fill that crap out...............

[79 HUSTLER]

It is all a game of moving money around legally. If you need a good tax man and financial guy let me know. They are squeaky clean and get things done.
You shouldn't be surprised and you should know whats coming. PM me if you are interested in getting some professional, efficient, legal help.
I knew I would have to make payments but never knew so much. Our tax person is great, I just don't have all the deductions this year as it is my first year owning it. So next year a few new vehicles, a new motohome for business, buy a new boat for advertisements.. :idea: :idea: :idea:
Good thing my buddy owns a bar to help write these checks :rollside: :rollside:

[79 HUSTLER]

I thought that quarterly form they sent me was optional............you guys really fill that crap out...............
You kinda got to.. When you are employeed by someone else, the person who give you your check takes care of your taxes. When you are self employeed you just write yourself a check when you want. But you still gotta pay taxes somewhere...

[checkster]

Maybe thats why that dude keeps calling from the IRS. My wife told him I moved to Mexico......

[C-2]

Maybe thats why that dude keeps calling from the IRS. My wife told him I moved to Mexico......
Here in Cali it's not the iRS you gotta worry about - it's the state franchise tax board. They are agresssive and about to open cans of whoop ass on people who owe back taxes. Run for cover!!!!
The IRS get's a little miffed when you don't pay over your 940/941 "trust fund" taxes. You might get a revenue agent knocking at the business door then. Don't ask me how I know :eek: :eek:

[mbrown2]

Just had to write my Quarterly taxes for $38,000. .......
Had to write a big check today....and I don't own my business...FAWK... :sqeyes: :sqeyes: and I and wife claim singled/0, write off both homes, lot and bunch of other stuff ....sux :devil: ......
But like a boss told me once told me......."you know I paid a Million in taxes in 200x", I then said: " WTF????"....He then said.."Think about how much I made to owe that much"....then he smiled... ;)

[ROZ]

One of my good clients was bummed.... They owed 150k and they're retired(in their mid 70's) :D
As for me, I won't know until tomorrow night... Thank god my pops is a CPA... The ritual is being the last return he does. I'm thinking at 10:15 or so tomorrow night :D I hope I don't have an accident on the way to the post office :eek:

[moneypit]

Three words.....Incorporate, Incorporate, Incorporate

[Parker]

I agree with dilligaf, get a second opinion on tax situation. First year in business should produce tons in deductables.

[moneypit]

I agree with dilligaf, get a second opinion on tax situation. First year in business should produce tons in deductables.
Not necessarely.. Only if you are incorporated.

[Parker]

Should probably look into that.....Business strategy is as important as the business for keeping the money made....

[C-2]

Over paying your estimates is also a clever and safe way to legally launder your money (from the ex, creditors, business partners and other taxing agencies).

[XtrmWakeborder]

Had to write a big check today....and I don't own my business...FAWK... :sqeyes: :sqeyes: and I and wife claim singled/0, write off both homes, lot and bunch of other stuff ....sux :devil: ......
But like a boss told me once told me......."you know I paid a Million in taxes in 200x", I then said: " WTF????"....He then said.."Think about how much I made to owe that much"....then he smiled... ;)
i want to be ur boss

[RitcheyRch]

On the bright side. You were able to pay it.

[NashvilleBound]

As mentioned before you need a good CPA and defintiely need to incorporate. I always make sure they know each other and are friends of a sort. Makes it easy to go from one to the other. Thats a pretty good payment...but that does mean your bringing it in. At the end of your tax year you will probably get some back. If it helps, my next payment is almost double that. :supp:

[vdriver4ever]

I just sent more $$ off then I ever have... To be honest once over the initial shock, I figured I made it now I have to pay it....
HOWEVER... until I can see that the government is spending it wisely I would just as soon hang on to it... And I am not talking about the war. I am talking about all the money spent rewarding people for bad behavoir.

[superdave013]

Very true, but only being the sole owner since jan. and having to pay serious coin for the bus. I'm not seeing the money I should be with the taxes I have to pay. To bad purchasing the bus. is not deductable :yuk: :yuk:
I feel your pain. I just wrote the biggest check ever too. At least you are already the sole owner. I'm in the process of buying out my biz partner right now. So I have to write the slacker, opps I mean partner a big check too!

[scarabrick2]

Wife just paid a 30k check also. The cpa was great! She's telling us that with all the deductions we had We're getting 6k back. Not bad for her first yr in real estate.

[cdog]

You need a good tax guy and a stratitgy to utilize write offs. Do you buy or lease your trucks? Do you use them for your buisniess? Some of the best years for write offs are the start up years. Since you bought a buis. mabey thats not the case. But you need to find out how to structure yourself better.

[vodkarocks]

I mailed a big check out yesterday. If your mailing in checks now make sure you send it certified mail. I got nailed one year because the irs said I was 3 days late and it cost me $350.00. I had no proof I mailed it on time.

[Lightning]

Thats not for my taxes for 04, this is for my estimated tax payments for the 05' year. This has to be payed every quarter.... THATS EVERY THREE FRICKEN MONTHS.... :cry: :cry: :cry:
I wish it was really every three. They ding you in April and then June.

[ROZ]

Just don't stop to get a bite to eat. You know how long that will take...lol
Oh snack, err, snap! You're right! I'll grab a #2 4x4 combo and a shake from in-n-out on the way to my dad's offlice....lol

[NashvilleBound]

I would really like to see a national sales tax instead of income tax. It would make EVERYONE pay....rich, like River Otter, all the way down to the illegal little brown units. Get rid of these 6 figure quarterlies.....

[RiverOtter]

I would really like to see a national sales tax instead of income tax. It would make EVERYONE pay....rich, like River Otter, all the way down to the illegal little brown units. Get rid of these 6 figure quarterlies.....
:notam:

[NashvilleBound]

:notam:
LOL...I was SO hoping you would read this thread.....

[Dave C]

Your a baller. Congrats!
I'm sooo pissed with taxes right nowwww.... Just had to write my Quarterly taxes for $38,000. :mad: :burningm: :burningm: :burningm: :burningm: :burningm: :burningm: :burningm: :burningm: :burningm:
First time I've had to do my quarterly payment, since I have never been the sole owner.. DAAAAMMMMMMNNNNNN...........

[RiverOtter]

LOL...I was SO hoping you would read this thread.....
Smarta$$ :D Hey, I was serious about my house, If you guys want to come into town that first week of Riverbend you can stay at my house. You could stay here the second weekend too but it'd be a bit tight. We (unlike the rich developer in Mboro) only have a 3bd/2ba. But we got those blow up mattresses :D

[NashvilleBound]

Smarta$$ :D Hey, I was serious about my house, If you guys want to come into town that first week of Riverbend you can stay at my house. You could stay here the second weekend too but it'd be a bit tight. We (unlike the rich developer in Mboro) only have a 3bd/2ba. But we got those blow up mattresses :D
Thanks, but I think well be in CA that whole time period. June right? I should be driving back to AZ to pick the deck up and just stay out there for awhile. 4-5 weeks. Then I fill fly the family home while I drive back. Something like that.

[RiverOtter]

Thanks, but I think well be in CA that whole time period. June right? I should be driving back to AZ to pick the deck up and just stay out there for awhile. 4-5 weeks. Then I fill fly the family home while I drive back. Something like that.
Sounds awesome! Say when do I get a ride in that bad a$$ boat? :D

[NashvilleBound]

Sounds awesome! Say when do I get a ride in that bad a$$ boat? :D
The Ultra is going West so I think thats not an option...too bad too, you would hae enjoyed a ride. I will miss it...it was a bad ass ride. The Magic...some time in June. I'll be on the water the rest of the summer/fall thats for sure!

[RandyH]

Three words.....Incorporate, Incorporate, Incorporate
Oh ya. What he said. Then find a good accountant that knows the laws. Worth every penny you pay them.
RandyH

[Dribble]

$28,000 in federal withholding and we're getting a big fat refund of $658.00. Since I know the government doesn't waste my money, I feel good about paying all those taxes. :rolleyes: :rolleyes: :rolleyes:

[ROZ]

Well, I guess I coulda done my taxs much earlier, but I thought I was going to owe a few thousand dollars..I was wrong, I owe just a few hundred. I guess my budget last year was a good one...tax wise anyways...
Also found a 1098 from 03 mixed into 04 stuff... Wife must have filed it by mistake. Now I have to ammend 03 taxes to get 1k back...wooohooo! :D
No accident on the way to the postoffice and handed my checks to the postman around 11:45pm... Still had a long time to spare... :D