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TAX DAY - APRIL 15 BLACK WEDNESDAY

phongonephongone 1,652 Posts
edited April 2009 in Strut Central
Whose paying? And whose getting a refund?Had my ass handed to me and will be paying a shitload to the guvment this year.
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  Comments

  • RAJRAJ tenacious local 7,779 Posts
    my wife got 10 Gs in Company Equity which you have to pay taxes on going in and obviously pay taxes on going out. Uncle Sam Double Dipping.
  • The_Hook_UpThe_Hook_Up 8,182 Posts
    Im getting a WHOPPING $18 back...damn folks giving me 1099-MISCs for DJing and shit...F*ck, just gimmie CASH...Unca Sam dippin into my raer monies.
  • ZEN2ZEN2 1,540 Posts
    Im getting a WHOPPING $18 back...damn folks giving me 1099-MISCs for DJing and shit...F*ck, just gimmie CASH...Unca Sam dippin into my raer monies.

    Big f*cking cosign.

    I got a 1099 for 300 dollars worth of freelance work.. took 200 bucks off my return.

  • DjArcadianDjArcadian 3,630 Posts
    Im getting a WHOPPING $18 back...damn folks giving me 1099-MISCs for DJing and shit...F*ck, just gimmie CASH...Unca Sam dippin into my raer monies.

    Note to working DJs. If they ask you to fill out a W9 don't bill them more than $599.
  • keithvanhornkeithvanhorn 3,855 Posts
    take all complaints to sabadaba's tea party in central park
  • RockadelicRockadelic Out Digging 13,993 Posts
    What do people complain about more?

    Not having goverment sponsored social programs?

    or

    Paying taxes?
  • mannybolonemannybolone Los Angeles, CA 15,025 Posts
    The American tax rate is pretty damn low for the Western world. It's painful but I'm not mad.
  • phongonephongone 1,652 Posts
    What do people complain about more?

    Not having goverment sponsored social programs?

    or

    Paying taxes?

    I know what you're saying, and Im trying to be a good democrat. But just sayin' damn it hurts writing large checks to the government.
  • shawnald_reaganshawnald_reagan 318 Posts
    I realized this year that I can survive on under 10,000 dollars a year. I'll also be getting some money back. I ain't complainin'...bein' poor ain't so bad.
  • thesolelifethesolelife 369 Posts
    I paid out again for the second year in a row. The good thing is I made more monies this year. I can't complain. It could be worst- NOT having the cash to pay. ...Keep on livin'.
  • GrafwritahGrafwritah 4,184 Posts
    Refund, but I had a lot taken out up front so I guess it's all relative.

    It also "helps" (if paying out money helps) to be paying for a lot of things that are counted as a credit, like mortgage and student loan interest.
  • LokoOneLokoOne 1,823 Posts
    I never understood the US tax system properly, but from what I gather the average American works all year and then they pay all their taxes in one go? (or get a refund).

    Is that how it generally works? If so....thats fucked up IMO. Do you have 'Pay as you go/earn' systems?
  • GrafwritahGrafwritah 4,184 Posts
    I never understood the US tax system properly, but from what I gather the average American works all year and then they pay all their taxes in one go? (or get a refund).

    Is that how it generally works? If so....thats fucked up IMO. Do you have 'Pay as you go/earn' systems?

    If you work a regular job - i.e. with payroll and deductions - you pay as you go based on estimates of what you will owe and based on what you say some of your deductions will be. Then at tax time you go back and look to see how close you were and whether or not you over or under paid.

    What most of these guys are talking about is getting paid from side gigs or other non-wage income where nothing was taken out, so they have to cough up everything at once.
  • LokoOneLokoOne 1,823 Posts
    I never understood the US tax system properly, but from what I gather the average American works all year and then they pay all their taxes in one go? (or get a refund).

    Is that how it generally works? If so....thats fucked up IMO. Do you have 'Pay as you go/earn' systems?

    If you work a regular job - i.e. with payroll and deductions - you pay as you go based on estimates of what you will owe and based on what you say some of your deductions will be. Then at tax time you go back and look to see how close you were and whether or not you over or under paid.

    What most of these guys are talking about is getting paid from side gigs or other non-wage income where nothing was taken out, so they have to cough up everything at once.

    ahh...not as bad as I thought... cheers for the info.


    BTW- does this mean alot of dudes here are gonna have to do a few 'gotta pay the taxman back' fire sales on ebay? (Cus if that was me, I know I wouldnt have put anything aside but would have blown all my cash on records)
  • TheMackTheMack 3,414 Posts
    got back and had to pay out
  • BrianBrian 7,618 Posts
    should i go to the one going on right now here?
  • kitchenknightkitchenknight 4,922 Posts
    I never understood the US tax system properly, but from what I gather the average American works all year and then they pay all their taxes in one go? (or get a refund).

    Is that how it generally works? If so....thats fucked up IMO. Do you have 'Pay as you go/earn' systems?

    If you work a regular job - i.e. with payroll and deductions - you pay as you go based on estimates of what you will owe and based on what you say some of your deductions will be. Then at tax time you go back and look to see how close you were and whether or not you over or under paid.

    What most of these guys are talking about is getting paid from side gigs or other non-wage income where nothing was taken out, so they have to cough up everything at once.

    ahh...not as bad as I thought... cheers for the info.


    BTW- does this mean alot of dudes here are gonna have to do a few 'gotta pay the taxman back' fire sales on ebay? (Cus if that was me, I know I wouldnt have put anything aside but would have blown all my cash on records)

    I pay taxes every year on freelance work; first year was a drag, and I definitely blew all my money on records and booze, and freaked come April.

    After that, I've been fine. Plus, as you do this year-to-year, it gets easier, and you learn tricks. First off, you can make quarterly estimated payments. That is, technically, a legal necessity, or else you pay the gov't. penalty interest.

    Plus, I calculate my taxes in January as soon as I get my info, and then have an extra three months to come up with extra scratch if need be... I "did," my taxes in February, but paid them last week.
  • tripledoubletripledouble 7,636 Posts
    im about to file for an extension so i can figure out how to get some credits. should be getting a couple grand back. hopefully. gulp
  • spivyspivy 866 Posts
    ewwww! this year killed me. i was bumped into a higher tax bracket come tax day. payed ol' gov a chunk of change this year. i'm all for paying my share in taxes but i wish i could choose where my loot is going. health care! public education! the environment! all good. but IRAQ!?!? AIG?!?! F*ck that!
  • rkwparkrkwpark 915 Posts
    im paying but next year i will be getting a 1099 for freelance work.

    besides saving every single receipt imagineable, what are some other ways a freelancer can make sure he aint paying out the ass ome april 15 2010?
  • tripledoubletripledouble 7,636 Posts
    wait a second, if i am expecting money back, i dont have to file an extension, right?
  • GrafwritahGrafwritah 4,184 Posts
    wait a second, if i am expecting money back, i dont have to file an extension, right?

    I am by far not a tax expert. Way, way, way far.

    To my knowledge you can go ahead and file.

    If you think you need to change it later you can file an amended tax return.



    Never done it but that's my understanding.
  • BigSpliffBigSpliff 3,266 Posts
    Remember that stimulus check from last year? Apparently because I filed an extension the good people at the IRS didn't send it to me but applied it against my 2009 taxes. Really nice of them but I had to say no thanks.
  • kidinquisitivekidinquisitive 1,627 Posts
    Does anyone know what the deal is if you send in your 2009 estimated tax payment check late? I filed my return a few days ago and totally spaced on sending my quarterly for next year's taxes. I'm guessing it's not a huge deal but will I have to pay some kind of fine? Couldn't find anything about it on irs.gov, by the way.
  • tripledoubletripledouble 7,636 Posts
    why would you have to pay a fine on something thats basically keeping you ahead of the game? id think you are clear.

    wait till they tell you something.
  • tripledoubletripledouble 7,636 Posts
    wait a second, if i am expecting money back, i dont have to file an extension, right?

    I am by far not a tax expert. Way, way, way far.

    To my knowledge you can go ahead and file.

    If you think you need to change it later you can file an amended tax return.

    yeah, i they owe you money, you can take your time.
    you actually have several years to claim money they owe you
  • BigSpliffBigSpliff 3,266 Posts
    Bizniz has to file quarterly so that Q109. Not ahead of the game. My current accountant is so busy he automatically files extensions for most of his clients. Kind of good but also not.
  • deejdeej 5,125 Posts
    i owe nearly $4000 because of a stupid ass job that 1099'd me. i had saved up the $$ to pay the govt, but after i finished this job i was unemployed in a recession-era economy w/ no income ... & promptly spent the money id saved up surviving. now im more broke than ive ever been, made less money than i ever have since moving out on my own & yet owe more taxes
  • deejdeej 5,125 Posts
    any company that has you come into an office full time & go to meetings, then 1099s you, is on some bullshit
  • deejdeej 5,125 Posts
    going to be paying this shit off for the next 4 yrs ... along with student loans, Credit cards
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