dw_n_cinti
Regular Member
- Dec 23, 2009
- 265
- 133
Sry for multiple post. System was hanging and somehow posted more.
Please delete.
DW
Please delete.
DW
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IRS got me for 40K today!
- Thread starter CYBERTRON
- Start date
CYBERTRON
Banned - Multiple Rules Violations
- Dec 19, 2009
- 1,242
- 426
I will send pic of check once its posted in my bank so not only will see the check but the mark of the beast on the back. IRS!!
I personally have had 4 businesses.
1 didn't work out
The second was an S-Corp and I sold out of it early.
The third is the consulting company above.
The fourth is an LLC for real estate only.
I have a couple different CPA's (different specialties) and always pay quarterlies - plus we (I have partners) do as much as legally possible to avoid taxes.
Sadly - what I make isn't very good for owning a consulting company - it is under performing and I have disagreements with my partners - hence me looking into IM. I'm a tech guy so I can do the tech side of this stuff no problem - and the rest of it is a "learn as you go because it will change soon anyway" kind of job.
1 didn't work out
The second was an S-Corp and I sold out of it early.
The third is the consulting company above.
The fourth is an LLC for real estate only.
I have a couple different CPA's (different specialties) and always pay quarterlies - plus we (I have partners) do as much as legally possible to avoid taxes.
Sadly - what I make isn't very good for owning a consulting company - it is under performing and I have disagreements with my partners - hence me looking into IM. I'm a tech guy so I can do the tech side of this stuff no problem - and the rest of it is a "learn as you go because it will change soon anyway" kind of job.
keverone
Junior Member
- Oct 4, 2009
- 151
- 47
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?
And then the mighty Newbie Cybertron says onto us, " I Am that I Am, That I Am , I Am >>> I.M. !!! "... And so it was, that the great Newbie hath reversed the roles, and every Registered member, and Jr. VIP begged at the feet of Cybertron, " Oh Great One, please show us the way, so that we may have such a terrible tax problem, and that we may dig and scrounge for just one more
receipt that we can use as a write off....
OK enough of that already... Daammn Dog! what a nice problem to have!~!!
P.S. Now you know who I am on BHW as well !!
:drinking2 Here's to many more prosperous years, (and much less tax) my friend.... Im just sayin ya know what im sayin...
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Well, it has nothing to do with fraud or anything. You can set up a SEO business with a company overseas and "pay" the company labor charges according to an agreement you would sign with the company.
I propose you can arrange a business deal so you can :
1) You can write off business costs as cost of labor legally
2) Have some people working for you so you can work on more projects
Sloppy2nds
Newbie
- Oct 19, 2009
- 26
- 1
lol damn Cybertron.. that's heavy
The motherfuckin GOV is giving me money this year. ~1k+ back to my pocket. I think we should have an option to pay for SS, when my ass gets to the age that I could use, that shit ain't gonna be around anymore. That's if the US is still "around" when that happens
The motherfuckin GOV is giving me money this year. ~1k+ back to my pocket. I think we should have an option to pay for SS, when my ass gets to the age that I could use, that shit ain't gonna be around anymore. That's if the US is still "around" when that happens
aftershock2020
Senior Member
- Oct 19, 2007
- 980
- 502
Geez, man. Accountants work wonders if you don't want to file long form yourself. Use long form for more discounts and write-offs. LLC and Incorporate your businesses, like some of the other guys have mentioned. Use those write-offs.
loclhero
Supreme Member
- Jun 11, 2007
- 1,284
- 2,444
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?
Well, you beat me although I topped you overall for the year.
Between my wife's job withholdings, my quarterly taxes I paid throughout the year, and the two checks I wrote yesterday to the fed and state, we paid 42 grand over the course of the year. But the check I sent off yesterday with my taxes was "only" 20 grand
dw_n_cinti
Regular Member
- Dec 23, 2009
- 265
- 133
Where are you?
I have the world's best f******ing accountant. When I first sat down with him in February I was looking at a 152K tax debt - my wife was in tears and I was a bit nervous myself. This guy then did whatever black magic he does with taxes and I actually ended up with a 15K refund! Funny thing is, you would never guess that he was an Ivy League educated CPA. This guy has a beautiful office, gorgeous assistants and top notch tech, but he looks like a skid row reject - he wears dirty sweats full of holes, no shoes, covered with tattoos and a Rastafarian hat. He's been arrested three times for drunk and disorderly, lost his driver's license and is doing community service. But damn he knows the tax laws!
festeris101
Regular Member
- Mar 11, 2010
- 286
- 208
Here it is for those who said didnt happened. You can ad the city and the amount for tax service =41K =) Hope that will inspire some noobs to try test, try, test, and try again!
Wow I wish I made enough to have to pay this out!
ozzke
Regular Member
- Mar 6, 2010
- 266
- 209
Great story, things like this give me extra motivation to work harder.
I just hope I can afford to drop my daytime job before the end of this year. I'm making a decent amount with IM each month, but the amount I cash in each month not predictable enough... yet.
I just hope I can afford to drop my daytime job before the end of this year. I'm making a decent amount with IM each month, but the amount I cash in each month not predictable enough... yet.
mikie46
Supreme Member
- Aug 6, 2008
- 1,454
- 1,122
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?
HINT! Get an accountant, one who knows what his doing.
stevemib
Regular Member
- Oct 14, 2009
- 417
- 269
Get a consultant that has a solid team behind him. I am not nor will ever say dont pay your taxes.
I am all about privacy, thats all. Got almost 3000 clients in one year and only one went to jail. He took mafia money and didnt handle it proper. If your doing something illegal and have chance you get busted then it really doesnt matter where your money is. Well it does but thats another thread. All I did was protect peoples assets. If you dodge the tx man thats your choice.
I am all about privacy, thats all. Got almost 3000 clients in one year and only one went to jail. He took mafia money and didnt handle it proper. If your doing something illegal and have chance you get busted then it really doesnt matter where your money is. Well it does but thats another thread. All I did was protect peoples assets. If you dodge the tx man thats your choice.
mapleleafz
Junior Member
- Jul 8, 2010
- 192
- 84
Get a consultant that has a solid team behind him. I am not nor will ever say dont pay your taxes.
I am all about privacy, thats all. Got almost 3000 clients in one year and only one went to jail. He took mafia money and didnt handle it proper. If your doing something illegal and have chance you get busted then it really doesnt matter where your money is. Well it does but thats another thread. All I did was protect peoples assets. If you dodge the tx man thats your choice.
You're in the Philippines though.. me thinks it's a little easier to dodge the tax man over there.