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Old 12-29-2011, 12:44 PM  
Rain Man Rain Man is offline
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You know why I'm grinning?
Because it looks like I'm going to get a big income tax refund, that's why.


Disclaimer that I recognize that I'm "loaning them money at zero interest", but as a business owner my tax amounts are so highly variable that I can't predict with any precision what I'll owe, so sometimes I owe a lot and sometimes I get a lot back, and I like getting a lot back better.
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Old 12-29-2011, 01:49 PM   #16
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Quote:
Originally Posted by Donger View Post
I decided not to pay taxes this year, just to see how long it takes the IRS to catch on to me.
That seems like a good idea.
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Old 12-29-2011, 01:50 PM   #17
Buehler445 Buehler445 is offline
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Originally Posted by Rain Man View Post
Not estimates, but we withhold and we overwithheld in the last quarter. Plus it turns out that we can depreciate DaFace.
Score!

My DaFace is on backorder until next year so I can't 179 him.
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Old 12-29-2011, 02:22 PM   #18
Slainte Slainte is offline
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I'm grinning because I live in Spain and I don't pay ANY federal (or state) income tax on my salary.

Oh yeah, I have a military retirement pension and I do pay taxes on that...until I file for the year and I get all the taxes back in my return, because my taxable income is so low.
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Old 12-29-2011, 02:24 PM   #19
Slainte Slainte is offline
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Quote:
Originally Posted by Donger View Post
I decided not to pay taxes this year, just to see how long it takes the IRS to catch on to me.
3,7 years. Guaranteed.
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Old 12-29-2011, 03:58 PM   #20
RockChalk RockChalk is offline
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Did you make estimates or something?

I hope so, because not paying tax typically equates to not making money. Unless you bought a new slave (DaFace) and Secion 179'ed him. That'd make sense.

I'm going to owe a bunch (for me at least).

But I've got some money saved up to pay them.
Holy schnikes. About 75% of my clients always tell me they forgot to hold back (or pay estimates) throughout the year. I never feel bad because I tell each and every one of them to make sure they've got it covered about 10 times throughout the year.
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Old 12-29-2011, 03:59 PM   #21
R8RFAN R8RFAN is offline
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I will be stroking another Big Check this year.... Enjoy my money
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Old 12-29-2011, 04:00 PM   #22
RockChalk RockChalk is offline
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Quote:
Originally Posted by Donger View Post
I decided not to pay taxes this year, just to see how long it takes the IRS to catch on to me.
Really it depends on your situation...

It you have tax documents (W-2's, 1099's, 1098's, etc.) then it will take the IRS less than a year to send you a friendly letter.

If you don't have these documents, you may never hear from them until you file again.
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Old 12-29-2011, 04:08 PM   #23
ShortRoundChief ShortRoundChief is offline
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I don't believe that you are grinning. I think this is a trick.
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Old 12-29-2011, 04:52 PM   #24
tmax63 tmax63 is offline
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I sold 85 acres of farmland this spring so I know I'm gonna get bent over the tree trunk and told to squealllllllllllll
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Old 12-29-2011, 04:56 PM   #25
R8RFAN R8RFAN is offline
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I sold 85 acres of farmland this spring so I know I'm gonna get bent over the tree trunk and told to squealllllllllllll
But you are part of the 1% it's your duty
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Old 12-29-2011, 04:59 PM   #26
tmax63 tmax63 is offline
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Actually I'm not. I've been on my 2nd million for a long time now since I gave up on the 1st one.
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Old 12-29-2011, 05:20 PM   #27
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I'm hoping/counting on a decent return. I've never paid this much in withholdings before. It's a little ridiculous (to a recent college grad.) If the government really does keep all of this money, there is something seriously wrong with the system.
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Old 12-29-2011, 08:21 PM   #28
FAX FAX is offline
testing ... 1, 2, 3
 
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Well, to be perfectly honest with you guys, I'm not as happy now as I was before.

The White Cheddar Rice Cakes were great, but I got White Cheddar Rice Cakes dust fragments in my keyboard, so I used a can of compressed air to blow those fragments away and "BAM!!" ... White Cheddar Rice Cakes dust went friggin' everywhere, man ... and, I got some in my eye. I can now say without fear of emendation that White Cheddar Rice Cake dust in your eyeball hurts like a White Cheddar Rice Cake Bitch ... it's scratchy, too.

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Old 12-29-2011, 08:22 PM   #29
R8RFAN R8RFAN is offline
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Well, to be perfectly honest with you guys, I'm not as happy now as I was before.

The White Cheddar Rice Cakes were great, but I got White Cheddar Rice Cakes dust fragments in my keyboard, so I used a can of compressed air to blow those fragments away and "BAM!!" ... White Cheddar Rice Cakes dust went friggin' everywhere, man ... and, I got some in my eye. I can now say without fear of emendation that White Cheddar Rice Cake dust in your eyeball hurts like a White Cheddar Rice Cake Bitch ... it's scratchy, too.

FAX
I always liked those...
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Old 12-29-2011, 08:23 PM   #30
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3,7 years. Guaranteed.
3 years would be my bet for sure.
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