Welcome To aBlackWeb

Register

Tax Time.

DOS_patos

DOS_patos

Unverified Legion of Trill member
Do you get stressed out around tax time?

How difficult are your taxes?

Do you usually owe or do you get a refund?
 
One of these damn years imma get some money back.

i keep owing a shit load of money even after tons of writeoffs.

gets mad frustrating at times.
 
Finally got a refund (only 60 dollars lol) last year because I got a house in late 2016. Before that I was owing money. I need to learn these loopholes that the 1% use
 
I got a couple hundred dollar refund last year. We shall see. I think I got enough writeoffs to get something back again. My return is relatively easy. Ima do it right away next weekend.
 
Cain said:
I usually always owe BUT most people don't know owing is actually a good thing (if you don't owe a ridiculous amount).
Click to expand...
please explain how owing is a good thing.

i was trying to learn more about taxes and the shit is mad confusing. that is why i pay people..but the cost is now getting outta hand.
 
RodyRod said:
Finally got a refund (only 60 dollars lol) last year because I got a house in late 2016. Before that I was owing money. I need to learn these loopholes that the 1% use
Click to expand...
bruh.....its alot of them...

some of the shit i heard is incredible..

using cows to write off land
using jets as security
writing off your dog as security
writing off trips
 
Because we are self employed it is pretty easy to make sure we never owe taxes. But we have an accountant to make sure of it. Pretty much everything we do is written off against what we make.
 
Judge Dread said:
Because we are self employed it is pretty easy to make sure we never owe taxes. But we have an accountant to make sure of it. Pretty much everything we do is written off against what we make.
Click to expand...
i am self employed....i pay quarterly estimated taxes to the US. i usually over pay. but that dont mean the shit aint stressful.

but wifey pays around this time....
 
DOS_patos said:
please explain how owing is a good thing.

i was trying to learn more about taxes and the shit is mad confusing. that is why i pay people..but the cost is now getting outta hand.
Click to expand...
If you were to get a refund back from the government that means they've been holding your money since Jan 1 in a bank but not drawing interest the entire time. So basically you gave them a loan but didn't reap the benefits of the interest.

When you pay back, it's basically the opposite from above post. You got more bang for your buck since Jan 1st of that year.

It's all about perspective, if you want to give the "loan" to the government and get that money at the end of the year then cool. If you want your paper up front and a pay a portion back at the end of the year then cool as well.
 
Cain said:
If you were to get a refund back from the government that means they've been holding your money since Jan 1 in a bank but not drawing interest the entire time. So basically you gave them a loan but didn't reap the benefits of the interest.

When you pay back, it's basically the opposite from above post. You got more bang for your buck since Jan 1st of that year.

It's all about perspective, if you want to give the "loan" to the government and get that money at the end of the year then cool. If you want your paper up front and a pay a portion back at the end of the year then cool as well.
Click to expand...
This only works for financially responsible people. I find that most people should give them that loan so they don’t get hit with a bill that they can’t pay. The last people on earth you want to owe is the government.
 
DOS_patos said:
i am self employed....i pay quarterly estimated taxes to the US. i usually over pay. but that dont mean the shit aint stressful.

but wifey pays around this time....
Click to expand...
You should look into adjusting how she handles hers. I really can’t see paying them something all year and then paying them again at the end of the year.
 
Judge Dread said:
You should look into adjusting how she handles hers. I really can’t see paying them something all year and then paying them again at the end of the year.
Click to expand...
yea...our taxes are a bit different
i get taxed in the US which i pay quarterly but i still must pay taxes in switzerland since i am a resident. thats once a year. this is why most people give up their US citizenship because we get double taxed. I also pay dominican and Italian taxes once a year. again its not alot but i still pay.
But wifey works here in switzerland so she has to pay the US as well but not as much as the Swiss taxes. She doesnt have them taking them right out her check. both are once a year.

Aint no way around it..
 
Damn you're getting hit by two governments? Sheesh


I thought if you worked abroad only the first 60-70k was taxed. Is that true or not? I got offered a job over seas awhile back but declined but I was under the assumption that how was the tax game was.
 
Cain said:
Damn you're getting hit by two governments? Sheesh


I thought if you worked abroad only the first 60-70k was taxed. Is that true or not? I got offered a job over seas awhile back but declined but I was under the assumption that how was the tax game was.
Click to expand...
you can work tax free in certain places...

and i get hit by four govts...wifey only two
 
I am trying to get to the point where I live the required amount of days in the USVI then I won’t have to deal with the IRS. Just taxes there.
 
You must log in or register to reply here.
Back
Top