FUCK the IRS and FUCK me

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[ame="http://www.youtube.com/watch?v=ZqK97av7I3s"]The Beatles - Taxman (2009 Stereo Remaster) - YouTube[/ame]


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conv3rsion said:
Why are you (you personally) on a 1099 with them and not having them just pay your business? Don't you pay yourself a reasonable salary already from your business? You can just up your w2 withholding from your own payroll and then you don't have to have clients hold anything from you (which honestly would sketch me out).

If you're not already paying yourself a salary then you need to start or you're going to end up getting fucked on not paying enough on FICA and the IRS reclassifying ALL of your earnings as self employment earnings (+13.3% in taxes).

If you aren't paying enough on your w2s to yourself then you need to start paying quarterly estimates too. Its likely you will have to anyway unless you paid more last year in taxes than you owe now.

I am not an accountant or a lawyer, this is not real advice and is just something I read on a napkin.
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Nahh.. That's too much work for Ly2 :-)
He'll just pay the penalty from the next deposit...

I am myself a financial lazy bum, but I always overpay my Advance tax, and end up getting a nice refund each year. Last year I got like 18 K, mostly because I pay in two countries (not twice, but file in both countries.. DTAT country)
 
I thought this was somewhat relevant:

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Dwight Schrute said:
If Barry can't find the Scrapebox icon on his computer, he will literally buy another copy of Scrapebox. How many licenses do you own, Barry?
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ly2 from WF said:
I don't use SB anymore, but I have 4 or 5 serials.
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DIBBS! I lost my SB serial, but I'm too cheap to pay again. ;)


geomark said:
My total tax bill for 2011 was US$500. Funny that it worked out to an even number like that. Still too much, but I got hit with taxable distributions from a crappy mutual fund.
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Yes, I'm a peasant. But I'm pleased I'm not paying those scumbags enough for even one bomb to drop on brown people.
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You sir, have inspired me.

2012 Is turning out to be my most Peasantly year yet.

I think I'm actually in the red, in fact. :thumbsup:
 
I paid nothing in taxes for 2011. My business was slightly in the red due to a few advertisers screwing me. I've learned to make smarter decisions on who I work with on a regular basis.
 
blogspotter said:
Nahh.. That's too much work for Ly2 :-)
He'll just pay the penalty from the next deposit...

I am myself a financial lazy bum, but I always overpay my Advance tax, and end up getting a nice refund each year. Last year I got like 18 K, mostly because I pay in two countries (not twice, but file in both countries.. DTAT country)
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So you give the government an interest free loan and then they pay you back in dollars that are worth less then the ones you gave them...

I mean it sucks owing but it sucks worse getting a refund.
 
lukep said:
You sir, have inspired me.

2012 Is turning out to be my most Peasantly year yet.

I think I'm actually in the red, in fact. :thumbsup:
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The challenge is to earn (taxable monies) like a peasant while living well. It's difficult, but a few special situations make it possible.
 
conv3rsion said:
Why are you (you personally) on a 1099 with them and not having them just pay your business? Don't you pay yourself a reasonable salary already from your business? You can just up your w2 withholding from your own payroll and then you don't have to have clients hold anything from you (which honestly would sketch me out).

If you're not already paying yourself a salary then you need to start or you're going to end up getting fucked on not paying enough on FICA and the IRS reclassifying ALL of your earnings as self employment earnings (+13.3% in taxes).

If you aren't paying enough on your w2s to yourself then you need to start paying quarterly estimates too. Its likely you will have to anyway unless you paid more last year in taxes than you owe now.

I am not an accountant or a lawyer, this is not real advice and is just something I read on a napkin.
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I don't really have a business. I mean, I have thoughtmechanics.com but I only own 50% of it and that is separate from my other shit. Plus I got that bitch penalized so most of the leads it was getting dried up anyway. Otherwise there is no business or LLC...just me o.o
 
My solution to tax issues is I don't make any money.

Come live with me barry it'll be ok
 
conv3rsion said:
So you give the government an interest free loan and then they pay you back in dollars that are worth less then the ones you gave them...

I mean it sucks owing but it sucks worse getting a refund.
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What my TAX guy thinks.. and everybody I know thinks..
But I consider it a very small price to pay for the mental hassle I assume I may have when they raise a penalty or shit.. You gotta pay you gotta pay right.. And how much interest do I lose anyway?

I do everything to avoid hassles. Hassles interfere in my business and mental bliss.

Plus, you have never known the joy of getting a refund.. Better than peanut butter.
 
ly2 from WF said:
I don't really have a business. I mean, I have thoughtmechanics.com but I only own 50% of it and that is separate from my other shit. Plus I got that bitch penalized so most of the leads it was getting dried up anyway. Otherwise there is no business or LLC...just me o.o
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how did you write off 100k without a business?

how do you pay your outsourcers without a business account? You just write them a personal check or use a personal paypal account?

don't you want to reduce your personal liability? Even if you don't have assets to protect currently you may in the future.

don't you want to reduce self employment taxes? I mean, 13.3% is no joke.
 
conv3rsion said:
how did you write off 100k without a business?

how do you pay your outsourcers without a business account? You just write them a personal check or use a personal paypal account?

don't you want to reduce your personal liability? Even if you don't have assets to protect currently you may in the future.

don't you want to reduce self employment taxes? I mean, 13.3% is no joke.
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I pay them with paypal.

"13.3% is no joke."

I can write off 13% if I LLC myself?

And yes, I pay everything thru paypal.
 
bumpa dumpa dumpa dum, what to do, what to do, gotta do something that fits in the overall context, is amusing, and still trollish. let's try that all-caps big-font thing, should work on a lot of levels, oh yeah and exclamation points, gotta throw those in. oh yeah and different color, yellow or something. yeah.

NO LY2 I REFUSE TO BELIEVE YOU ARE NOT THE MOST SUCCESSFUL SEO BILLIONAIRE ON THIS FORUM YOU ARE MY INSPIRATION FOR ALL MY INTERNET RICHES DREAMS!!!!!!!!

i love it when a plan comes together
 
:(

I just haven't done my taxes for the past 3 years. I don't make shit anyway... the fuck are they going to do? I need that money more than they do.
 
B, your accountant sucks.

Go find yourself a good libertarian accountant who personally believes you're not paying him him to file your taxes but instead paying him to ensure that you don't send the feds one dime more than you're supposed to.

Fooking night and day difference...I still paid out the ass this year but it would have been much worse if I was still with my accountant from 10 years ago, worthless piles of ineptitude.
 
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