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Started By
Message
re: Tax weekend I feel bad right now.
Posted on 4/11/25 at 8:40 pm to LongTime Tiger
Posted on 4/11/25 at 8:40 pm to LongTime Tiger
quote:
And I mean people with household income over $150k-200 and even much more. Incredibly unknowledgeable.
And whose fault is that. It’s printed not only on EVERY SINGLE PAYCHECK you get, but also on your w-2. And if you aren’t w-2, youre writing a check every quarter
1
Posted on 4/11/25 at 8:41 pm to BarberitosDawg
You seem okay and all but can you not suck as much? Tnx.
Posted on 4/11/25 at 8:43 pm to BarberitosDawg
Haven't done mine yet I am waiting til Monday. I know I owe but just how much 
Posted on 4/11/25 at 8:46 pm to OweO
quote:What?
$825k this way big dog
Posted on 4/11/25 at 8:48 pm to BarberitosDawg
Yep, just stroked a check for 18k
Posted on 4/11/25 at 8:49 pm to Havoc
I appreciate the response, It may seem grandiose me stating the obvious, but I’m honestly ill at this point.
Posted on 4/11/25 at 8:51 pm to BarberitosDawg
Who strokes a check for federal taxes anymore? I efile and have the annual amount that I owe drafted directly from my checking account and pay quarterly through EFTPS.
Posted on 4/11/25 at 8:52 pm to Mingo Was His NameO
quote:
And if you aren’t w-2, youre writing a check every quarter
Unless you’re a farmer then it’s only once a year.
And you put all vehicles and personal expenses on the farm. Pay yourself a distribution, pay estimated taxes on that weekly.
Then figure out toward the end if you’ll make any profit. Go buy a bunch of assets with 1.5% sales tax using farm exemption until you show a loss.
Get all estimated taxes on your distribution refunded.
Sell assets year later for a few hundred less than you paid so you owe no tax.
Follow me for more tips
Oh I forgot, whine to the govt that you can’t make any money so they create relief programs to get you more money
This post was edited on 4/11/25 at 8:55 pm
Posted on 4/11/25 at 8:53 pm to deltaland
quote:
Follow me for more tips
Or fraud
Posted on 4/11/25 at 8:57 pm to lsulaker
Agreed, do that but a sad adjustment was called in from my accounting firm… without going into detail some windfalls were miscalculated.
I pick up a penny on the sidewalk. Just built that way.
I pick up a penny on the sidewalk. Just built that way.
Posted on 4/11/25 at 8:58 pm to Mingo Was His NameO
quote:
Or fraud
If it is, every farmer in the Ms delta and their CPAs are committing it
Posted on 4/11/25 at 8:59 pm to BarberitosDawg
quote:
I pick up a penny on the sidewalk. Just built that way.
I stopped picking up pennies years ago for this exact reason.
Posted on 4/11/25 at 8:59 pm to deltaland
quote:
If it is, every farmer in the Ms delta and their CPAs are committing it
Likely. Your personal expenses aren’t business expenses
Posted on 4/11/25 at 9:02 pm to Mingo Was His NameO
quote:
Your personal expenses aren’t business expenses
I actually don’t do that part but I know many who do. It’s easy to buy a 20k dollar side by side and wife 100k Tahoe and claim it’s for farm work. Get your gas from the farm. Cell phones? Use for work. Open up charge accounts at local restaurants for “lunches for the labor”
ETA farmers get away with a lot more than your average business owner for whatever reason
This post was edited on 4/11/25 at 9:05 pm
Posted on 4/11/25 at 9:07 pm to deltaland
quote:
Your personal expenses aren’t business expenses
quote:
I actually don’t do that part
quote:
And you put all vehicles and personal expenses on the farm.
???
quote:
ETA farmers get away with a lot more than your average business owner for whatever reason
I’ve seen some “farmers” get absolutely boned
Posted on 4/11/25 at 9:11 pm to LongTime Tiger
I am always shocked the the number.
And even though it’s a small fraction of the whole, that additional Medicare tax just pisses me off.
And even though it’s a small fraction of the whole, that additional Medicare tax just pisses me off.
Posted on 4/11/25 at 9:16 pm to Mingo Was His NameO
quote:
???
I never said in that post I was doing any of that.
I know a lot of people who do. I was honestly just being funny because it blows my mind what some people get away with 
Posted on 4/11/25 at 9:19 pm to deltaland
I pay more in taxes than mingo makes in a year
Posted on 4/11/25 at 9:19 pm to TheOcean
quote:
I pay more in taxes than mingo makes in a year
Happy 4u.
All that money and still can’t get laid.
Posted on 4/11/25 at 9:36 pm to BarberitosDawg
Have to “cut a check” for $45k because I screwed up my basis calculation during my mid year review with the CPA. 100% my fault, and I should have known better; but my eyes got too big when I saw the expected year end result based on my error.
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