Tax Time

[Eminor]

We just got back 3500. I'd rather break even at the end of the year, so I pay what I owe and don't lend the government money, but we had another baby this year, and lots of medical expenses, so we had extra deductions and credits.

 

[General Zod]

^wise words right there

I use to work for a guy, who files exempt, and then mailed in quarterly tax payments. That requires too much discipline for me.

Zod

 

[dorian gray]

i just realized i forgot to itemize my real estate taxes FUCK ME i just cost myself $525. is there any way i can fix this? goddam it i think it's too late. i dont know how or why i overlooked my real estate taxes when i was itemizing

 

[MajestikMøøse]

I'm told that I'm going to get $1400 back.

I have the full intention of blowing part of it on something stupid/awesome.

 

[dorian gray]

haha like what?

 

[NAD]

CANDY AND PORNO

 

[MadeInNewJersey]

I haven't even filed yet; my accountant filed an extension for me back in like, January or something, knowing that she couldn't even get me in to see her until May 5.

But, I have high expectations this year, having worked the entire 12 months last year in field sales. i.e. lots to write-off

 

[dorian gray]

ha mark has a personal accountant. damn.
i filed my own (hence, the fuck ups) and found it difficult to figure out how to do my wife's taxes as she was an independent salesperson. i think. guess illl find out when the IRS gets my forms haha

 

[MajestikMøøse]

haha like what?

probably another guitar because I've been wanting a nice acoustic for awhile now.

CANDY AND PORNO

that's what I'm doing with the other half.

 

[MadeInNewJersey]

ha mark has a personal accountant. damn.
i filed my own (hence, the fuck ups) and found it difficult to figure out how to do my wife's taxes as she was an independent salesperson. i think. guess illl find out when the IRS gets my forms haha

dude, I HAVE to. She finds all the little loopholes to get me extra cash back. I don't know how she does it, but I don't care and I don't ask questions.

The last time I worked a full 12 mos. in field sales, I got back over $6,000 between federal & state. I'll be thrilled with half that this year.

 

[dorian gray]

seems like the govt takes out a huge chunk from sales. i think my wife was taxed at 30% or something ridiculous. she had 3 jobs btw, all sales, so i was a bit confused. from one job she only made like $600 and i didnt know if i was supposed to report that or not. i didnt. haha

 

[MadeInNewJersey]

Commission checks are taxed identically to bonus checks, in other words, often upwards of 45%. So yeah, we get slaughtered.

Once you add in lots of "business/entertainment" expenses and such, you get a decent amount back.

 

[dorian gray]

Commission checks are taxed identically to bonus checks, in other words, often upwards of 45%.

yeah, thats more like it. two of her jobs - they didnt take any taxes out at all and thats what confused me.

 

[MadeInNewJersey]

I remember back in 2000-2002 when I was doing so well in sales. There was nothing worse than regularly bringing home $9k commission checks, only to have the gov't tax it down to $4500. Ouch.

 

[dorian gray]

you got it back eh?
of course, it was a year after you could have invested it

 

[Reign in Acai]

Got 1300 coming my way. Originally was about to owe the same, but tjis stimmy kicked me down with a reversed suplex. Huzzah!

 

[J.]

got over $3200 because I didnt get either of Trump's stimulus' last year

also got Papa Joe's $1400 about two weeks ago.

i make a lot less than I did 2 years ago, when I was in 6 digits. but i am soooo much happier and healthier. if I'd have kept down that road I would have had a nervous breakdown, at the very least.....a heart attack or suicide, at the worst

 

[Krilons Resa]

What does the stimmy have to do with your tax returns? Last I knew, it doesn't count towards taxable income or anything of the sort.

edit: I understand if you didn't receive the stimmy, you'll get it in your tax return.

 

[J.]

that's it. the tax return form this year asked if i received either stim 1 or 2. I stated i received a whopping $144, and then my return doubled.

 

[Reign in Acai]

What does the stimmy have to do with your tax returns? Last I knew, it doesn't count towards taxable income or anything of the sort.

edit: I understand if you didn't receive the stimmy, you'll get it in your tax return.

10k in unemployment tax deferred. The wife hasnt been working due to Covid. I did my best year to date last year, while also going tax exempt for over 3 months. Was fearing a taxation onslaught upon my shores.

Betwixt this tax deferal and writing my rental property off as a 10k loss, im actually coming up. (Put 12k into new flooring into that bish. Last owners had carpet not fitting to lay DeAngelis road kill upon.)