Tax time..

[13COBRA]

I hate tax time, I always owe, quite a bit.

For the 2018 tax season, yes I know it'll be slightly different than 2017, but I'm either going to pay in extra quarterly, or just divide the quarterly payments out to take $XXX out of each check.

What are your guys' thoughts? Who decided to file quarterly instead of just withholding more, and why? And vice versa.

 

[Zemedici]

Fwiw, I found it easier to simply have extra taken out with each check. A few hundred bucks per check is a much easier pill to swallow than thousands quarterly. Ya know? My previous employer would always file taxes incorrectly, so I had to pay extra so I wouldn't owe at the end of the year.

woooo for privately owned businesses......

 

[WVTrakPak]

Isn't your CPA running a projection for you?

 

[13COBRA]

Isn't your CPA running a projection for you?

He did. He gave my projections for this year. He told me I could pay $XXXX a quarter to federal and $XXX to state...or pay $XXX out of each of my three checks.

 

[03Sssnake]

 

[WVTrakPak]

A lot of my clients prefer quarterly because they can play with the money a while. I find that everone is different and some like the withholding because it is out of mind. Total preference in my opinion.

 

[nxhappy]

what number are you claiming?

 

[OETKB]

My tax situation changes wildly every year. Writing a check for fifty large on April 15 to the state and federal overlords.

 

[Weather Man]

I pay quarterly, easier.

 

[ssj4sadie]

I find it easier to make less money...on the real though, sucks for you guys that have to go through this.

 

[jeffh81]

My tax situation changes wildly every year. Writing a check for fifty large on April 15 to the state and federal overlords.

Damn thats gt350 money

 

[jeffh81]

I find it easier to make less money...on the real though, sucks for you guys that have to go through this.

Your ass is building a house and buying a raptor. You making bank too

 

[OETKB]

Damn that WAS gt350 money

It cost money to make money.

*sigh*

 

[ssj4sadie]

Your ass is building a house and buying a raptor. You making bank too

DINK FTW!

 

[jeffh81]

DINK FTW!

Didn’t know you was in the club

 

[_Snake_]

DINK FTW!

Didn’t know you was in the club

Had to look this up. Realized I’m in the club also. Lol

 

[Machdup1]

I hate tax time, I always owe, quite a bit.

For the 2018 tax season, yes I know it'll be slightly different than 2017, but I'm either going to pay in extra quarterly, or just divide the quarterly payments out to take $XXX out of each check.

What are your guys' thoughts? Who decided to file quarterly instead of just withholding more, and why? And vice versa.

I file quarterly. I have accountants and CPA's that calculate those numbers tell me to write a check for $X. If everyone is on the same page, it works great. If not....

 

[13COBRA]

I file quarterly. I have accountants and CPA's that calculate those numbers tell me to write a check for $X. If everyone is on the same page, it works great. If not....

That's how I've done it for a few years. This past year, with my divorce, and a few income changes...my accountant was off by 5 figures. haha

Live and learn. I'm just going to chalk 2017 up as a shitty year and get rolling on this one.

 

[IronSnake]

I feel like middle class tax brackets are designed in such a way that you need to make the top threshold amount in your bracket, lest you get wrecked.

Bracket is

• 22%: $77,401 to $165,000.

You damn well better make above 100k otherwise your check is crap.

 

[jeffh81]

Had to look this up. Realized I’m in the club also. Lol

Yes sir we are a growing organization. Welcome to the club and just keep an eye on the mail box for your incoming welcome aboard package.