I know, it's like Tax Deadline EVE, but does anyone know offhand what the cutoff date for investing money into an IRA (in the current year) to deduct said amount from your adjusted gross income (for the previous year,) and get a refund on your tax burden directly equalling the tax on the amount invested (up to $2,000?) I always wait to the last fucking minute... I swear.
Damn... Nevermind... Looks like I haven't explored this loophole in so long that they raised it to 5K... http://www.irs.gov/publications/p590/ch01.html#en_US_publink10006082
I had to pay this year. I know about as much about taxes as I do about technology... My tax man does not speak very good English, but he is very good. He said ..."you have to pay ...but instead of giving Uncle Sam all of it, we will put 6k in an IRA". I think he said 6k. this was my first year doing taxes alone and paying... I am still pissed. I have no idea wtf an IRA is ... and I dont really care, Tax and money crap piss me off.
Individual Retirement Account We have a very nice little Jewish guy that does ours. I knew we were going to owe, but instead we are getting 2k back, plus he does all the filing and stuff for us, so if we are ever audited it's on him.
My guy is from Egypt... He also has a big gap in his bottom and and top teeth... so understanding him - is impossible. He has the arab accent along with the extra shhhh shhh sounds. I had to pay because da arab gives me 1099... no money is taken out of my checks... and since the split, we agreed to claim the kids everyother year- it is his year. I guess since we have been together, we filled together and whatever was owed he paid... this was my first time filling alone since like 1997. I guess I cant bitch to much , I did not have to pay a lot. Next year I will have to pay a shitload because it will have my divorce settlement in it. that is if we ever get divorced...
A divorce settlement isnt taxable is it? I know child support isnt, for either parent. He doesnt get to claim it, and you dont have to claim it, unless they changed it.
child support is not taxable, he cant claim it and I dont either... but when have a lump sum settlement... you have to claim it. I wish I did not, but I do ... and that sucks... next year I will be in higher tax bracket.
My parents had to pay over 30 thousand dollars because my dad's business is an S Corporation. That totally sucked. We could have bought a new company truck had the accountant gave us a head's up.
The state was over 12k and the state owes us double that from two years ago. Small businesses never get any breaks and end up paying out the ass. It's not fair.
You are right. My friends dad's small business accountant was pretty good about that kind of stuff. They would by Corvette's and RVs and claim them as work or recreation vehicles for employees. Since he was an 'employee' it counted (somehow) Something about getting the taxable income down. I hate it, it doesnt make it worth it to be a small business owner. Companies like Wal-Mart get all kinds of credits for different stupid crap, that a small business owneer cant even come close to matching. It will be the end of this country yet. Its funny, yahoo did a report on how all these 'futuristic' movies got it all wrong, the only thing they got wrong was the years. So 1984 didnt happen in 84, but it sure seems to be headed that way. They mentioned that Soylent Green movie Lomo likes, I havent seen it yet, but apparently there was something about the population of Manhattan being like 40 million, and how it was set in 2010 and that if we were to reach that number new yorkers better get busy (currently around 8 million). 2001 a space oddysey and sentient computers how 'ha ha ha they were so wrong', but in reality, robots - build cars, run nuclear facilities, explore far reaches of space and even other planets, so how long is it going to take before an exponentially expanding version of AI starts to think a lot faster than we can.
My dad is so damn honest. It doesn't pay to be honest anymore. I think he should file and ammended return and claim a bunch of shit that he bought last year, some of it could have been used and has been used for the business anyway.
Ah, it sucks. I'm an accounting major and I'm barely learning the meat and potatoes of it. Sorry I cant be of much help. Only two more years....
well the arab is not honest and still had pay 48k so he is in an asshole mood for the rest of the week. The techs have even started counting how many times he mumbles "48 fuckin thousand" today the counted 9.. but they are sure they missed a few.
Yeah, I heard it too without the fuck part. I can't say that I blame him for being pissed. In our situation, I didn't even feel like we made that much money last year. I paid off a debt we had and we just kind of floated on. They make it so that it doesn't pay to make any money if you are small business.
Wait till you can claim a loss. All these crappy LLCs that make a living on cash and credit, they buy shit overboard, then take cash payment, claim a loss default on the loans and they walk away with a ton of money and the "LLC" goes bankrupt. Loopholes are fucking fantastic.
