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Old 03-04-2024, 11:02 AM  
Buehler445 Buehler445 is offline
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2024 Tax Season Thread
It's that time.

Let's talk taxes.
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Old 03-04-2024, 12:24 PM   #16
The Franchise The Franchise is online now
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Originally Posted by loochy View Post
Well it's really freaking hard to nail it right on, and it really sucks to have to cut a check every year so I always err on the side of refund. That measly couple of thousand or so wouldn't have generated much extra if it was invested anyway.
I'm on the same side as you. I'd rather not have to try and figure that shit out to a penny because I'll end up missing something anyways. I'd rather not owe and just get money back.
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Old 03-04-2024, 12:24 PM   #17
Buehler445 Buehler445 is offline
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Do not want.
One thing I can assure you do not want is leins and seizure notices.
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Old 03-04-2024, 12:24 PM   #18
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Net owe 100 between State and Fed, will wait to file until April 1st. Used TaxAct for a long time... maybe 20 years...
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Old 03-04-2024, 12:26 PM   #19
Buehler445 Buehler445 is offline
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**** Taxes
Ain't nobody here hates taxes more than me. I'd bet real money on it.
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Old 03-04-2024, 12:51 PM   #20
O.city O.city is online now
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Got my businesses done, gotta get the personal ones done.

Didn't pay my estimates this year, kept the cash because I ended up buying and absorbing another office. Hopefully that writeoff keeps me ok.
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Old 03-04-2024, 12:54 PM   #21
Buehler445 Buehler445 is offline
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Got my businesses done, gotta get the personal ones done.

Didn't pay my estimates this year, kept the cash because I ended up buying and absorbing another office. Hopefully that writeoff keeps me ok.
Depends on the assets you bought and how long they are depreciated over.

So are you the kingpin of the dental world now?
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Old 03-04-2024, 01:12 PM   #22
O.city O.city is online now
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Depends on the assets you bought and how long they are depreciated over.

So are you the kingpin of the dental world now?
Ha, no.

It was a smaller office, I basically just bought his patients and equipment etc.
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Old 03-04-2024, 01:13 PM   #23
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Dumb question, but will my accountant determine that or?
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Old 03-04-2024, 01:19 PM   #24
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One thing I can assure you do not want is leins and seizure notices.
Do not have.

Seriously, you CPA's perform voodoo black magic. I sit down with my CPA every early December, ask him how much equipment I have to buy to not get raped by the man, and he figures it out within about 5-6 minutes.

I choke back tears, he tells me to stop being a bitch and start shopping.

Incredible.
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Old 03-04-2024, 01:38 PM   #25
Mr. Wizard Mr. Wizard is offline
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It's that time.

Let's talk taxes.
Well I won $15,000 this year (a teacher award, $15,000 cash and $35,000 in tools for the school) So I held back $5000.00 for taxes, hope that's enough. We usually come in pretty close to even maybe 1000.00-2000.00 back. I keep seeing articles that taxes will be higher this year.
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Old 03-04-2024, 02:32 PM   #26
scho63 scho63 is online now
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What the hell are these taxes you speak of?
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Old 03-04-2024, 02:36 PM   #27
Garcia Bronco Garcia Bronco is offline
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I wait until April 11 or so to file each year because I always own, but it's within G. I think if you get +/- 1G you did really well balancing it out.
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Old 03-04-2024, 02:40 PM   #28
Mr. Wizard Mr. Wizard is offline
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Do not have.

Seriously, you CPA's perform voodoo black magic. I sit down with my CPA every early December, ask him how much equipment I have to buy to not get raped by the man, and he figures it out within about 5-6 minutes.

I choke back tears, he tells me to stop being a bitch and start shopping.

Incredible.
Come tax time I wish I was farming so I could spend money to bring my taxes down. That is the only time I wish was a farmer.
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Old 03-04-2024, 04:04 PM   #29
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Because I have an apartment attached to my house, I have to go through every credit card transaction, electronic payment, and written check to see what expenses apply to the house, to the apartment, or to an apportioned combination of the two. It's roughly 1,200 transactions this year.

Now, you may ask if I could do it as I go and not have to do it all at once at the end of the year, and the answer to that question is yes. Yes, I could, and every year I think I should, and then I don't.
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Old 03-04-2024, 04:35 PM   #30
HonestChieffan HonestChieffan is offline
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Sucks for sure.

Had a good year killing weeds and spent an ass load on equipment and repairs so offset most.

Cap gains are a killer so been holding back on taking stock profits.


Hope cattle stay strong so I dont get blind sided. My customers that are all grain are about to get a dose of reality with cheap corn and beans in the next year or more.
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