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re: Thoughts on what to do with unexpected tax return?
Posted on 11/17/16 at 11:48 am to baldona
Posted on 11/17/16 at 11:48 am to baldona
I had an LLC and paid quarterly estimated taxes, based on the previous years numbers. Usually in April, I have to pay an extra $20k, so don't think what I'm withholding is the problem. Basically, I closed shop and moved to a different city (with my new wife), and in the process, took a huge loss on the business. And even though I sold my house for a small profit, it was still a net negative (barely). So, according to my CPA, I had a total loss in 2015, and would get back all of the quarterly taxes that I paid, roughly low 6 figures.
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