Just saw our federal tax bill and nearly fainted
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
|
What in the HELL is going on??!!
That is all. |
Anonymous
| Sounds like poor planning on your part either by not withholding enough or not making sufficient estimated payments. |
Anonymous
| Oh, that's right... just go ahead and give the government your money upfront... ahead of when it is due. Here, take more, take more.... |
Anonymous
| Uh, that's what you tell someone who gets a huge refund. Owing lots suggests poor planning. |
Anonymous
It's actually due in quarterly payments. You can't just go all year and write one big check. |
Anonymous
If you don't want to do this, then you should estimate what you expect to owe and then stockpile it away so that you don't have the reaction that OP had. Either you are prepared to pay your taxes in full by April 15 or your have your employer withhold the amount. Withholding does give the government the money upfront, but it's easier for most of us who don't want to have to track the money and don't want to face a huge bill come April. You have to pay the money either way, so, it's just a matter of what's easier for you to deal with. |
Anonymous
In some cases you can. If you are a small business owner and expect your annual employment taxes (FICA and any withholding for employees) to be less than $1000, then you can opt to file form 944 annually instead of form 941 quarterly. Otherwise, you are required to pay quarterly. So, if you are a one-person home business and don't opt to withhold taxes for yourself and expect to pay less than $1000 in combined FICA (both employer and employee taxes) then you can get away with filing annually. |
Anonymous
| Weird. I do my taxes in Feb. |
Anonymous
| OP, you owe a lot? So that means . . . (wait for it) . . . you made a lot of money! Congratulations! |
Anonymous
| I pay more in taxes than most people earn, it just sucks to work so hard and have to give half of it to the government when almost half of our population pays ZERO taxes. Those are the ones sitting around bitching that we should pay even more. |
Anonymous
| Ours was less than last year, and we make over $200K. So I was pretty happy about that. |
Anonymous
Yeah, those people supporting a family on $30,000 - $40,000 per year really have it made. And I'm sure they don't work hard at all for their princely salaries. Blue collar and service industry jobs are notoriously easy. Plus, if you're giving half to the government, you have a really shitty accountant. |
Anonymous
|
I agree. Those people who pay no taxes because they earn less than you paid for hair products last year really need to get a clue.
I say we make sure they can't get health insurance either. Maybe then they'll realize they should have gone to law school. |
Anonymous
OK, this is a fallacy. Most of these folks DO pay taxes (deductions from paychecks), it's just that the tax code at the end of the year says they paid too much and they get a refund of some portion. Much of it is social engineering on the part of the goverment - here's your credit for your 2.5 kids, your mortgage interest deduction, your church donations and the like. But it doesn't mean they aren't paying taxes somewhere. The government just deems something worthy of getting some of that money back. |
Anonymous
Good for you. I don't even get some of my investment statements until March 15th (apparently they are allowed to delay if they expect amendments). It's not clear the OP is talking about her overall taxes or just what she owes on April 15. |