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Discuss what's fucking going on, and which programs are best and worst. One-time "program" announcements from "established" webmasters are allowed. |
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#1 |
Grrrrrrrrr
Industry Role:
Join Date: Oct 2002
Location: Dreamland
Posts: 4,974
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Tax time SUCKS! Holy Jesus. How do you handle it?
I guess this year on top of my 2 week paychecks I have to pay taxes quarterly cause this bill at tax time is freeking stupid. There goes my savings.
Do you guys pay quarterly or do you give yourself a paycheck, or pay it all at the end? Can some of you guys share your accountant info if they are skilled in adult? Mine is not, however I have used him for yearsssss. I just don't think he's getting me all the allowances I could get? Guess it's time to do some phone boning. ![]() ![]() |
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#2 |
Confirmed User
Join Date: Jun 2002
Posts: 9,506
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The bill at the end of it gives me motivation, that being said, im in the same boat with accountants.
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#3 |
Too lazy to wipe my ass
Industry Role:
Join Date: Aug 2002
Location: A Public Bathroom
Posts: 38,499
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i dont pay taxes anymore...
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#4 |
Grrrrrrrrr
Industry Role:
Join Date: Oct 2002
Location: Dreamland
Posts: 4,974
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#5 |
Grrrrrrrrr
Industry Role:
Join Date: Oct 2002
Location: Dreamland
Posts: 4,974
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#6 |
Videochat Solutions
Industry Role:
Join Date: Aug 2004
Location: Canada
Posts: 48,540
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Here's a simple trick. Create a second savings account and start depositing money into it on a regular basis. You probably already know what your tax bill will be next year, so divide that number by 12 or 24 and start paying that amount into it every month or twice a month. Then when it comes time to paying the taxes, you will already have the money to do it.
If you can't pay your taxes in one shot, sometimes the government will let you spread it out over payments (Revenue Quebec allows this). This is ok except that the government will charge you interest (usually a lot) plus other fees too. If this is the case, you might be able to borrow the money from your bank or even from your credit card at a much lower interest rate than the government interest rate. Finally if possible explore other options. Look into TFSA's (Tax Free savings accounts), RRSP's etc, to reduce your tax burden. And if you don't have an accountant, hire one immediately. If you're running a business you are entitled to all kinds of discounts and programs that the governments offer that you should be taking advantage of.
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#7 | |
Confirmed User
Industry Role:
Join Date: Aug 2001
Location: Hollywood Fl.
Posts: 8,973
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Quote:
depending on your tax bracket put 25-30% or your gross into that account as it comes in and there wont be any surprises at tax time no matter how you file |
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#8 | |
Grrrrrrrrr
Industry Role:
Join Date: Oct 2002
Location: Dreamland
Posts: 4,974
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Quote:
I do have an accountant, but he knows nothing about adult business other than working with me for the past 7 years or so. I feel like if I had someone who was more skilled in adult, there may be some things I would be entitled to, that my accountant doesn't know about. I'm not sure if they are all the same no matter the industry. I think I would need an entertainment accountant I suppose? I don't think my CPA gets me any damn deals. And he really should have set me up in DE instead of NJ then I wouldn't have state taxes on top of federal taxes. Booooo. ![]() I have no choice but to pay my taxes when they are due, as I already have an agreement and once you do, you can not screw up going forward. I'm happy as heck that I can pay the bill. So I'm not really COMPLAINING, just saying damn...it's crazy. |
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#9 |
It's 42
Industry Role:
Join Date: Jun 2010
Location: Global
Posts: 18,083
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In the USA the IRS accesses you penalties if you don't pay 1040-ES (estimates) quarterly.
See Form 1040-ES Individual General Rule If your AGI income is over $9,225 you need to pay estimated quarterly taxes to the IRS. |
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#10 | |
So Fucking Banned
Industry Role:
Join Date: Jul 2003
Location: Montana
Posts: 46,238
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Quote:
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#11 | |
Grrrrrrrrr
Industry Role:
Join Date: Oct 2002
Location: Dreamland
Posts: 4,974
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Quote:
I need a more aggressive CPA I feel like. |
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#12 |
So Fucking Banned
Industry Role:
Join Date: Mar 2012
Posts: 358
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I've never paid tax... I don't even know how to fill out that form :D I'm 25 years old, at large...
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#13 |
Grrrrrrrrr
Industry Role:
Join Date: Oct 2002
Location: Dreamland
Posts: 4,974
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#14 | |
Confirmed User
Join Date: Jan 2003
Posts: 955
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Quote:
thats a great idea |
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#15 |
Just Doing My Own Thing
Industry Role:
Join Date: Jan 2011
Location: London, Spain, New Zealand, GFY - Not Croydon...
Posts: 25,038
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Don't make any money and don't pay taxes - It's genius...
Of course you will miss the little luxuries in life, like food and accommodation - But think of the time you save not filling out those fucking forms!.... |
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#16 |
working on my tan
Industry Role:
Join Date: Mar 2005
Location: Florida/Kentucky
Posts: 39,152
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If you pay quarterly like you are supposed to all you need for year-end is adding the 4 numbers together. Pretty easy really.
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#17 |
Confirmed User
Industry Role:
Join Date: Aug 2006
Location: Poland
Posts: 9,228
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In Poland you pay taxes every month and then there's like a yearly thing at the end where you square up if they owe you money or you them...
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#18 |
Living The Dream
Industry Role:
Join Date: Jun 2009
Location: Inside a Monitor
Posts: 19,496
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My accountant is based in NJ (Martinsville) so is that far from you? A nice Jewish lady. LOL Of course, this year is too late but for next year I can hook you up.
Yes, I pay quarterly but have my accountant send me a package of when/where/how to send in payments, all neat and clean with pre-made envelopes. Hit me up on ICQ if you want the contact. ![]()
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#19 |
Fakecoin Investor
Industry Role:
Join Date: Jul 2012
Location: New Delhi, IN
Posts: 7,128
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how to handle it
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#20 |
Grrrrrrrrr
Industry Role:
Join Date: Oct 2002
Location: Dreamland
Posts: 4,974
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#21 |
Pay It Forward
Industry Role:
Join Date: Sep 2005
Location: Yo Mama House
Posts: 76,936
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claim you are illegal it will go away
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#22 |
So Fucking Banned
Industry Role:
Join Date: Apr 2001
Location: N.Y. -Long Island --
Posts: 122,992
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we have one in NY that handles all the corps and personals for the entire company and family... He isnt cheap but all the people that have went to him have not regretted it.. ..
Yes he is Jewish |
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#23 |
Confirmed User
Industry Role:
Join Date: Aug 2006
Location: Poland
Posts: 9,228
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Seems everyone wants a jewish accountant?
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#24 |
dumb libs love censorship
Industry Role:
Join Date: Jul 2008
Posts: 8,198
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my taxes take only a couple hours cause all my expenses are on a spreadsheet & sorted by category, easy peazy.
also helps im poor as joe dirt. ![]() |
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#25 | |
Anti Communist
Industry Role:
Join Date: Nov 2003
Location: Null
Posts: 29,750
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Quote:
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My mother said, to get things done You'd better not mess with Major Tom |
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#26 | |
Too lazy to set a custom title
Join Date: Jan 2003
Location: Los Angeles
Posts: 10,525
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Quote:
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#27 | |
Anti Communist
Industry Role:
Join Date: Nov 2003
Location: Null
Posts: 29,750
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Quote:
Ds
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My mother said, to get things done You'd better not mess with Major Tom |
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#28 | |
working on my tan
Industry Role:
Join Date: Mar 2005
Location: Florida/Kentucky
Posts: 39,152
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Quote:
I have rental income from Kentucky and even though I live in Florida where there is no personal income tax I still have to pay Kentucky income tax. . |
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#29 |
Just Doing My Own Thing
Industry Role:
Join Date: Jan 2011
Location: London, Spain, New Zealand, GFY - Not Croydon...
Posts: 25,038
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#30 |
Grrrrrrrrr
Industry Role:
Join Date: Oct 2002
Location: Dreamland
Posts: 4,974
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That's what I mean when I say I pay myself every two weeks. I pay a service to do it for me, problem is I underpaid myself, I just didn't realize by so much.
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#31 |
Grrrrrrrrr
Industry Role:
Join Date: Oct 2002
Location: Dreamland
Posts: 4,974
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I was pretty sure if you incorporate in DE then you don't have to pay state taxes. Which would save me like 15k a year if true. Big chunk.
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#32 |
Confirmed User
Join Date: Aug 2007
Location: I'm from Downtown....Im from Mitch & Murry
Posts: 1,329
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How did I handle it? LOL
I cut them a huge fucking check ![]() |
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#33 |
Grrrrrrrrr
Industry Role:
Join Date: Oct 2002
Location: Dreamland
Posts: 4,974
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#34 |
working on my tan
Industry Role:
Join Date: Mar 2005
Location: Florida/Kentucky
Posts: 39,152
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#35 | |
Anti Communist
Industry Role:
Join Date: Nov 2003
Location: Null
Posts: 29,750
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Quote:
Ds
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My mother said, to get things done You'd better not mess with Major Tom |
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#36 | |
Confirmed User
Industry Role:
Join Date: Feb 2005
Location: US
Posts: 5,326
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Quote:
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#37 | |
Grrrrrrrrr
Industry Role:
Join Date: Oct 2002
Location: Dreamland
Posts: 4,974
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Quote:
But my accountant never suggests any of this. I have to tell him what to do when I feel like he should be telling me what to do. |
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#38 |
All Your Design Needs
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When I first read the thread I thought it said "Tax time SUCKS! How would Jesus handle it?"
The guy who said that the truth never hurts, never had to fill out a Form 1040.
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#39 |
Jägermeister Test Pilot
Industry Role:
Join Date: Dec 2001
Location: NORCAL
Posts: 72,857
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I am self employed and write off everything I can. I also donate a lot during the year so that helps.
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#40 |
Too lazy to set a custom title
Join Date: Dec 2006
Posts: 29,035
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I kind of wing it with my quarterlies. It's never the same amount.
I always can generally estimate how much I owe or if I'll break even, so I don't sweat it too much. When quarterly payment time comes up, and I'm a little lean in my bank account and I have to make choice between paying taxes and paying my household bills, the taxes will wait. I can always scrape it together if I get a tax bill from underpayment.
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#41 |
Grrrrrrrrr
Industry Role:
Join Date: Oct 2002
Location: Dreamland
Posts: 4,974
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#42 |
Confirmed User
Join Date: Jan 2006
Posts: 6,218
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It kind of sounds like you are complaining that your income doubled
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#43 |
Confirmed User
Industry Role:
Join Date: Aug 2001
Location: Hollywood Fl.
Posts: 8,973
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#44 |
Living The Dream
Industry Role:
Join Date: Jun 2009
Location: Inside a Monitor
Posts: 19,496
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Personally, I always come to GFY for this kind of advice
taxes medical relationship moral racial I think I'm pretty safe this way.
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#45 |
www.EngineFood.com
Industry Role:
Join Date: Aug 2006
Posts: 5,698
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If you are getting a refund it means you gave the government an interest-free loan of your money. Any good accountant will get you a nominal tax bill,not a refund. :2cents
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#46 |
cuck
Industry Role:
Join Date: Mar 2003
Posts: 11,571
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I take the money out of the bank and pay the government for allowing me to earn money in their fabulous country. They're like my pimp. I do all the work and they get all the money.
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#47 | |
Just Doing My Own Thing
Industry Role:
Join Date: Jan 2011
Location: London, Spain, New Zealand, GFY - Not Croydon...
Posts: 25,038
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Quote:
Take the info you are given here and from all your other sources before you make decisions - There are 1000's of years of life experience on here - Filter it obviously, don't just ignore everything though..... |
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#48 |
So Fucking Banned
Industry Role:
Join Date: Mar 2012
Posts: 358
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or you just avoid the job thing but you keep the earning & spending money parts you know, it's nice... :D without attracting too much attention of course... I'm stated as unregistered unemployed or what who gives a fuck...
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#49 | |
Grrrrrrrrr
Industry Role:
Join Date: Oct 2002
Location: Dreamland
Posts: 4,974
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Quote:
Quarterly seems the way along with drawing a paycheck. |
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#50 | |
Confirmed User
Industry Role:
Join Date: Feb 2005
Location: US
Posts: 5,326
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Quote:
Afterall if you have a business you didn't build it, someone else made that happen.
__________________
. . Arguing with a troll is a lot like wrestling in the mud with a pig, after a couple of hours you realize the pig likes it. |
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