[HBerry]

Fucking Taxes.

I was self employed most of last year which means I have to pay all of my taxes at the end of the year. So I saved money throughout the year to be able to pay them but I got laid off in Nov so I had to tap into that to pay bills. Did taxes over the weekend, owe $4500. Gotta go shake that money tree. Fuggin fuck!

Off Soap Box

[dhuze]

buy time figuring your taxes too low and file an extension. You have to pay even if you file an extension but I believe you can correct your tax when you complete you "final" taxes

[ChrisNoF4i]

Are you a fisherman?

[Nikon]

Change your name and disappear into the wilds of Canadia..eh?

[Nikon]

Originally posted by HBerry
Fucking Taxes.

I was self employed most of last year which means I have to pay all of my taxes at the end of the year. So I saved money throughout the year to be able to pay them but I got laid off in Nov so I had to tap into that to pay bills. Did taxes over the weekend, owe $4500. Gotta go shake that money tree. Fuggin fuck!

Off Soap Box

[skiierx]

You are probably going to get penalized too for not paying your estimated taxes each quarter.

[HBerry]

Originally posted by skiierx
You are probably going to get penalized too for not paying your estimated taxes each quarter.

I have never paid quarterly. I worked for them last year and my dad checked into it and was told I didn't have to pay quarterly. Of course now I am wishing I had!

[Honclfibr]

You should be happy, had you been paid as a normal employee your employer would have been required to take taxes out of your paycheck each week. Which would have meant that you would have run out of money a lot earlier after you had been laid off. Essentially the IRS has given you a tax-free short term loan for this year...of course, in future years that you work as a consultant they will require you to pay quarterly to avoid such a thing happening again now that you've had a year where your EOY tax liability exceeded $1000.

[HBerry]

Yes but being self employed I have to pay double social security.

[HBerry]

So who wants to loan me $4000 @ 10%?

[KB]

Just say eff the IRS and don't pay. They will take your next years tax return happily in payment and if you call and tell them your going to do this they usually don't penalize you. I have done it and it really does work.
KB

[cropover20]

Originally posted by HBerry
So who wants to loan me $4000 @ 10%?

And while your at it lend me $2900. Damm 20% tax bracket!!

[HBerry]

Haha, I'm only in the 10% bracket but I was self employed so I am getting 25% of my pay coming out.