The taxman cometh

[m.x.oz]

Good God I'm frustrated and have to rant a bit. I know you're thinking first world kind of problems here, and I should deal with it, and will because I don't have a choice.



Spent some wonderful time in Colorado for a bit of work and then some vacation time skiing the past couple of weeks. I was happy go-lucky until my CPA called. Seems that I made a major mistake last year where I had a short-term gain and forgot to hold out over above my ordinary rate vs long-term rate.



I have zero write-offs, no kids, I have very little mortgage interest and using standard deductions works out better than itemizing. I claim zero on my regular withholding plus a bit extra. Usually I end up paying a little more in April but this year is going to suck! Don't they know they're messing with my play money? Why do I have to play the guessing game every damn year?


Any ideas on some deductions I might be missing other than buying a bigger/another home? Can't have kids either, fixed that many years ago. Only thing I can think of is giving more charitable gifts. Maybe I can write off sessions as physical therapy, anyone try that?


Ok, that's the end of my rant, feel free to chastise me all you like, can't feel any worse than I do now.

[thebodyman]

I have always thought it is better to owe them than vise versa, when you get a refund you are just getting back your own money that you kindly loaned the IRS to use , interest free.

Just my thoughts.

[Ginger Doll]

How about donating to an out of control bathroom renovation? Maybe you could claim it as Habitat for Hookers?

[FLWriter]

Originally Posted by Ginger Doll

How about donating to an out of control bathroom renovation? Maybe you could claim it as Habitat for Hookers?

Ah, you should become acquainted with FLW's personal bathroom construction cost estimation method.

1) Have design prepared by a licensed professional;
2) Have professional take-off prepared for estimate;
3) Add 15% for contingencies and 15% for Vodka;
4) Double the estimate and drink the Vodka; and,
5) Throw away the estimate and pay what the contractor wants.

Because that's exactly how it works.

[Ginger Doll]

Originally Posted by FLWriter

Ah, you should become acquainted with FLW's personal bathroom construction cost estimation method.

1) Have design prepared by a licensed professional;
2) Have professional take-off prepared for estimate;
3) Add 15% for contingencies and 15% for Vodka;
4) Double the estimate and drink the Vodka; and,
5) Throw away the estimate and pay what the contractor wants.

Because that's exactly how it works.

So true!! Except I substitute the vodka with whiskey.

I think your cost estimation method could be slightly altered & utilized to help M.x. Oz with his tax dilemma, paying particular attention to #4 & 5.

What’s your poison, Oz?

[Johnnytricks]

Very sore subject with me $500 a month comes out as an automatic withdrawal to the US treasury every month for a year now for a year now got two years to go. That’s money I could hobby with. Sorry ladies I guess that’s why I have been rather obnoxious lately.

[Johnnytricks]

Hopefully Alexandria Ocasio-Cortez and millennials socialists,when they tax the rich into oblivion there will be free pussy for everyone. Otherwise a poor blasterd like me doesn’t have a dogs chance.

[niteswimmer1]

Originally Posted by m.x.oz

Good God I'm frustrated and have to rant a bit. I know you're thinking first world kind of problems here, and I should deal with it, and will because I don't have a choice.



Spent some wonderful time in Colorado for a bit of work and then some vacation time skiing the past couple of weeks. I was happy go-lucky until my CPA called. Seems that I made a major mistake last year where I had a short-term gain and forgot to hold out over above my ordinary rate vs long-term rate.



I have zero write-offs, no kids, I have very little mortgage interest and using standard deductions works out better than itemizing. I claim zero on my regular withholding plus a bit extra. Usually I end up paying a little more in April but this year is going to suck! Don't they know they're messing with my play money? Why do I have to play the guessing game every damn year?


Any ideas on some deductions I might be missing other than buying a bigger/another home? Can't have kids either, fixed that many years ago. Only thing I can think of is giving more charitable gifts. Maybe I can write off sessions as physical therapy, anyone try that?


Ok, that's the end of my rant, feel free to chastise me all you like, can't feel any worse than I do now.

Mine is a little different than the tax man but still overwhelming at times. I now have a bill for hospital and health care for a family member that was in the thousands when I took it over, and still is even though I have made a big dent in it. Sure puts a damper on the “Mad” money. But I know they can’t do it, so it is what it is. Just won’t retire when I wanted.

[m.x.oz]

Originally Posted by Ginger Doll

So true!! Except I substitute the vodka with whiskey.

I think your cost estimation method could be slightly altered & utilized to help M.x. Oz with his tax dilemma, paying particular attention to #4 & 5.

What’s your poison, Oz?

I did the sale to offset the cost of the pool I built and adding some newer home features. Looks like the pool just got a bit more expensive. Come summer, after work and weekends, I'll have to stay hammered while I float. But with cheaper whiskey and scotch now of course.


Ginger, I am still looking forward to that shower some day.

[m.x.oz]

Originally Posted by thebodyman

I have always thought it is better to owe them than vise versa, when you get a refund you are just getting back your own money that you kindly loaned the IRS to use , interest free.

Just my thoughts.

A return, now that's something I've not seen in quite a long time. I don't mind if I owe a couple thousand every year, I can deal with that. It's making one mistake and now it's 4x what you expected. I didn't account for that.

[Ginger Doll]

Originally Posted by m.x.oz

I did the sale to offset the cost of the pool I built and adding some newer home features. Looks like the pool just got a bit more expensive. Come summer, after work and weekends, I'll have to stay hammered while I float. But with cheaper whiskey and scotch now of course.


Ginger, I am still looking forward to that shower some day.

Should be done in about two weeks or less! Contractors are saying by the end of next week, but I’m not that optimistic.

I’ll need you to reciprocate with an invite to that pool. I’ll bring some good whiskey!

[splitlog]

Sucks. Big time. I keep holding more and more out. I remember when I was happy making a year what I pay in taxes now. Hardly pays to work hard and better yourself anymore.

[BK]

Hmmm. I’ve been hearing nothing but people paying way more this year after our glorious leaders tax break for the ultra rich. Ladies wonder why business has dropped off? Well expecting a massive tax bill will do that.

[Hogfan69]

I must be doing something right because I got back just a little bit more from both the state and fed. I did get the biggest raise I've ever had in one year in April so I'm still unsure of how it will pan out with a full year.

[Johnnytricks]

Originally Posted by BK

Hmmm. I’ve been hearing nothing but people paying way more this year after our glorious leaders tax break for the ultra rich. Ladies wonder why business has dropped off? Well expecting a massive tax bill will do that.

This year. Lol I’m still paying 2016 taxes.