IRS got me for 40K today!

CYBERTRON

Banned - Multiple Rules Violations
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What a bad day for my bank roll. Completed my taxes and had to write a 40K check to the IRS. Yuck! Anyone else happy like me?:D
 
What a bad day for my bank roll. Completed my taxes and had to write a 40K check to the IRS. Yuck! Anyone else happy like me?:D

wow.... but on the bright side, you must have banked HARD to owe that much in taxes.
 
Damn no wonder why there's so many people using off shore banks
 
yeah.. was a nice year.. Thanks to CU/STRONGER/PROFITROI/TIGER/LEC/MAX. Few things I learned. INC or LLC yourself to save 15%. Play with networks that are not in USA. Perhaps open bank account in panama. Or... Just quit! No money no tax issues hahaha
 
congrats on the great year! maybe next year youll still owe 40, but on More gross revenue!!!!
 
Please more info on these? CU/STRONGER/PROFITROI/TIGER/LEC/MAX

CU is Cash university right?
 
Please more info on these? CU/STRONGER/PROFITROI/TIGER/LEC/MAX

CU is Cash university right?
ewhore till July at LEC legalescortscash which turned into CU cashuniversity. In Sept i went into credit checks with Strongerads who we all know n love! and profitROI. After the crash of profitroi (Martin where are u?) i went to tiger. And I always played with the big CPA guys at Max bounty and Cj. If i can keep myself from getting the Ban.
 
I paid about the same - income from my consulting company was nice this year but not as good as 2008.

My online marketing resulted in a -$1308 tax deduction. Just got started last year - learned lots (the expensive way).

My final check to the IRS will be for $15K + $9800 in quarterlies. I paid in about $23K during the course of 2009.
 
I paid about the same - income from my consulting company was nice this year but not as good as 2008.

My online marketing resulted in a -$1308 tax deduction. Just got started last year - learned lots (the expensive way).

My final check to the IRS will be for $15K + $9800 in quarterlies. I paid in about $23K during the course of 2009.

As long as you've still got money in the bank, all is well. The tax man will always get his money.
 
Next year save yourself the heartache and start paying estimated taxes. It doesn't hurt nearly as bad if you just pay as you go. Talk to your accountant about it.
 
It's a good problem to have and as you said, make sure to incorporate.
 
My wife and I pay a CPA and we have been with the same guy for years now. He has done an excellent job, two of my friends were audited and I guess it was brutal.
 
I have a proposal for you to avoid it... contact me if you want to know the details. By the way I am not a tax adviser that sort of guy.:)
 
Ouch, get incorporated!!! get a good accountant! get some deductions brotha
 
Damn no wonder why there's so many people using off shore banks

It is not a good idea to use off shore banks. The feds have agreements with most countries.

And if you are caught, that could be criminal action.

Most IMers are involved in federal taxable and/or taxed activity. All activity of right (eg. working for a living trading your labor property for other personal property of equal value) within your state of domicile is well argued as not taxable; and any claims upon such should be challenged as without jurisdiction or by motion to dismiss per Rule 12(b)(2). Any government privileged activity that produces a gain or profit may be taxable and more than likely is taxed by some taxing statute. If your IM activity extends beyond your state of domicile then it falls within the commerce clause and therefore within federal jurisdiction. If your agreements focus within your state of domicile then such activity is activity of right and not of privilege; and it would by your duty to hold the gov't within its bounds.

FYI I am not an attorney, just many years of study on the subject.

DW
 
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