Author Topic: the tax man stole my mod money  (Read 1966 times)

0 Members and 1 Guest are viewing this topic.

gragravar

  • Supercar
  • *****
  • Posts: 4,315
the tax man stole my mod money
« on: April 17, 2006, 01:35:42 PM »
bummer.  I knew I had had A LOT withheld last year, but apparently it wasn't enough.

finished my taxes last night and ened up writing a big check which would have gone to new rims and a big brake kit.  guess those will have to wait a while now.

the worst thing is I found a good number for fair and legit deductions to take but in the end I ended up being bitten by the AMT.      8O

oh well. I figure I will make about 1/2 this year what I did last year.  that should make next years bill smaller.   :roll:
Any man who can drive safely while kissing a pretty girl is simply not giving the kiss the attention it deserves.  ~Albert Einstein

shummer

  • Modded
  • ***
  • Posts: 925
Re: the tax man stole my mod money
« Reply #1 on: April 17, 2006, 02:13:42 PM »
Just a general observation and maybe it's totally inaccurate...but if you owe AMT, then you must've made some serious coin in 2005. You can't complain.

Rocky Mountain Club B5

Re: the tax man stole my mod money
« Reply #1 on: April 17, 2006, 02:13:42 PM »

gragravar

  • Supercar
  • *****
  • Posts: 4,315
Re: the tax man stole my mod money
« Reply #2 on: April 17, 2006, 02:22:57 PM »
I can complain, but I'll understand if no one listens.   :wink:  

I do agree that paying taxes is important, and I won't complain about the total size of the bill.  I am more bummed that my withholding wasn't enough to cover the entire bill.

Made some way serious money last year - way more than I intended to.  my job change netted me a good severance payment and also forced me to cash many vested options when I left.  

unfortunately, most of that cash went into the new house and landscaping.  good to build equity I guess, but not so good for liquidity in having the free cash to write yesterday's check.
Any man who can drive safely while kissing a pretty girl is simply not giving the kiss the attention it deserves.  ~Albert Einstein

ianacole

  • Heavily Modded
  • ****
  • Posts: 2,622
    • http://www.rmsolo.org
Re: the tax man stole my mod money
« Reply #3 on: April 17, 2006, 02:36:12 PM »
We always run mid-year tax burden projections to try to minimize any end of year payments.  It's a little bit of a guess since we can only use the previous year's tables, but so far we've been good.
"The corruption of man is followed by corruption of language." -Emerson

Think you're fast? http://www.rmsolo.org

For the road racer in all of us: http://www.nasarockymountain.com

kraut-sled

  • Heavily Modded
  • ****
  • Posts: 2,020
    • Autobahn Premier Service
Re: the tax man stole my mod money
« Reply #4 on: April 17, 2006, 08:26:07 PM »
I have decided NOT to pay taxes this year. :D
Autobahn Premier Service
2105 South Kalamath Street
Denver CO 80223
303-935-9065

gragravar

  • Supercar
  • *****
  • Posts: 4,315
Re: the tax man stole my mod money
« Reply #5 on: April 17, 2006, 08:39:53 PM »
Quote from: "kraut-sled";p="45311"
I have decided NOT to pay taxes this year. :D


that gets easier when you have no income.   :wink:

and of course the no income thing comes easier when your customers give their money to the tax man instead of to you.   :cry:
Any man who can drive safely while kissing a pretty girl is simply not giving the kiss the attention it deserves.  ~Albert Einstein

s4josh

  • Modded
  • ***
  • Posts: 619
Re: the tax man stole my mod money
« Reply #6 on: April 17, 2006, 08:51:29 PM »
Quote from: "gragravar";p="45312"
Quote from: "kraut-sled";p="45311"
I have decided NOT to pay taxes this year. :D


that gets easier when you have no income.   :wink:

and of course the no income thing comes easier when your customers give their money to the tax man instead of to you.   :cry:


See this is the problem with trickle down economics!!! :evil:
Josh Ver 2.0

2011 VW Jetta 2.5 SE DSG
2009 VW Jetta TDI 6sp man
2006 VW MkV GTI DSG w/LC
2005 VW Passat Wagon TDI-PD
2003 VW Jetta TDI-PD
2001 Audi B5.5 S4 6sp man

jayryan

  • Supercar
  • *****
  • Posts: 6,211
    • JayFriesen.com
Re: the tax man stole my mod money
« Reply #7 on: April 17, 2006, 11:33:28 PM »
I wrote a sizable check for the first time this year...state paid me though :wink:
'03 A4 1.8TQM
'68 MG C
'06 4Runner

kraut-sled

  • Heavily Modded
  • ****
  • Posts: 2,020
    • Autobahn Premier Service
Re: the tax man stole my mod money
« Reply #8 on: April 18, 2006, 12:47:28 PM »
Quote from: "gragravar";p="45312"
that gets easier when you have no income.   :wink:

and of course the no income thing comes easier when your customers give their money to the tax man instead of to you.   :cry:


Or when you have to spend some of your income to clear bad debit, created by a former business associate who refused to do the right thing.   :evil:
Autobahn Premier Service
2105 South Kalamath Street
Denver CO 80223
303-935-9065

TurboDub

  • Modded
  • ***
  • Posts: 725
Re: the tax man stole my mod money
« Reply #9 on: April 18, 2006, 06:13:34 PM »
I hear you. I need to start claiming the Subie as a dependent  :lol:
09 DSG GTI
05 Subaru Legacy GT

Spicoli

  • Heavily Modded
  • ****
  • Posts: 2,243
    • http://www.jackham.net
Re: the tax man stole my mod money
« Reply #10 on: April 18, 2006, 06:17:37 PM »
well, taxes were nice to me this year... but they are going into my tax account for next year... since i have only paid $120 of taxes so far this year.
Life's too short to be taken seriously

ColoradoB5

  • Global Moderator
  • Supercar
  • *****
  • Posts: 3,311
Re: the tax man stole my mod money
« Reply #11 on: April 18, 2006, 11:56:53 PM »
Sounds like the IRS is your mod monkey.  Get that monkey off your back man.

Sorry to hear about the wheels.  That's a tough thing.
You can't rehabilitate a fire ant.