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O/t Taxes!!!

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Old 02-06-2003, 05:10 PM
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Thumbs down O/t Taxes!!!

Good grief......just found out I might owe on taxes this year, boy this sux. Anybody else in the same "boat" as me....I gotta figure something out quick.
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Old 02-06-2003, 06:49 PM
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For me it's not an issue of "if" but how much. Paying seems to be the only answer for us.

Don't feel too bad though. My partner just got told he owes 68k. He said no problem. HMMMMM

Buck
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Old 02-06-2003, 07:15 PM
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Default Look at it this way

Everyone owes, it's just whether you had them hold out enough to cover what you owe, if you get something back at the end of the year, it's only because you had them hold too much out, so................I OWE I OWE, SO OFF TO WORK I GO, I JUST HOPE I HELD ENOUGH OUT, SO I OWE I OWE,SO OFF TO WORK I GO
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Old 02-06-2003, 07:18 PM
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I gotta pay.
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Old 02-06-2003, 07:22 PM
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I ALWAYS PAY !!!!

Seems when you have your own business you always owe all types of taxes. They never take enough out during the year.
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Old 02-06-2003, 07:36 PM
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dont get me stared

made some money on the stock market 2 years ago when i sold some stocks.
turned around and bought again with the profits and principle i started with.
not long after that the bubble burst and i lost a ton.

guess what , if you make lets say 50k on the market you owe 1/3 of it to the irs depending on your tax bracket THAT year.

if you lose 50k all you can claim is 3k/year.

the bright side (if there is one) is i have a write off for several years.

on the other hand it could be worse. i could have been born in araq instead.
 
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Old 02-07-2003, 08:34 AM
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Ouch I guess I better not complain to much, I'm not in that bad of shape. Went to my HR dept. and found out they were not holding out enough I don't know a whole lot about taxes but I wish there was a way around it...I think I owe like 2K.
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Old 02-07-2003, 08:49 AM
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Ya I will owe a little for last year and if I stay on pace this year (2003) I am going to get bum rushed!!!!!

I frankly am really sick and tired of paying all the taxes that I do. I vote STRICKTLY on the person that I think at some point may drop my taxes as that is the ONE thing that makes it SO hard for me to stay above board with my shop. I mean really OVER 50%!!!!!!!! Oh ya and why is it that I get PENALIZED 12% for being self employeed??????
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Old 02-07-2003, 09:18 AM
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97BossHammer,

Dont get bummed about having to pay. If you have to pay rather than getting a refund you beat the system. All it means is that the 2K you owe was usable by you all year long. They are going to get the money anyway so you might as well hold their money untill 4/15. If you get a refund all that means is that you let the Government play with your money all year long for free!

Dont get pissed, YOU WON!

Ron
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Old 02-07-2003, 10:14 AM
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rjcardinal,
Couldn't have said it better myself. All it means is you had the ability to invest the 2k instead of the Govt.! I do know that it sucks to pay though!!!
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