Note to self: never release the FGVOTD in the middle of a discussion on income taxes. Always wait. Not even an ABBA video can lighten the mood under such circumstances. I should have waited to release that*
Rob – just pay it and be happy that you didn’t give the gov’t an interest free loan all year because that is what a tax refund amounts to. keep your money yours for as long as you can and pay at the last minute.
Also Rob, don’t panic…but do the responsible thing.
The first year Hubby and I had our own business we owed so much taxes…can you read 5 figures. I nearly fainted when I saw the number. I cried in the accountant’s office. Fortunately we had money saved and paid it. But we learned from our mistake by not paying quarterly.
Learn from this, Rob. Make sure your employer is taking out enough taxes. Also, do try to save some money, even if it’s $10 a month. Save something. You’re going to need it for a rainy day.
It’s all about timing Biff. Gotta know when to pull it out. (oooh. that didn’t sound so good, but you know what I meant!)
Biff….always grab the moment at hand and release.
Rob, I don’t know how the payment thing works.
Go on the irs website, there’s info.
http://www.irs.gov/businesses/small/article/0,,id=108347,00.html?portlet=1
Note to self: never release the FGVOTD in the middle of a discussion on income taxes. Always wait. Not even an ABBA video can lighten the mood under such circumstances. I should have waited to release that*
*Re-writes here! Get your free re-writes!
Rob – just pay it and be happy that you didn’t give the gov’t an interest free loan all year because that is what a tax refund amounts to. keep your money yours for as long as you can and pay at the last minute.
mshook;
In other words, you can’t back up your statement.
Take it and run, DIBS, with my blessing.
Also Rob, don’t panic…but do the responsible thing.
The first year Hubby and I had our own business we owed so much taxes…can you read 5 figures. I nearly fainted when I saw the number. I cried in the accountant’s office. Fortunately we had money saved and paid it. But we learned from our mistake by not paying quarterly.
Learn from this, Rob. Make sure your employer is taking out enough taxes. Also, do try to save some money, even if it’s $10 a month. Save something. You’re going to need it for a rainy day.
mshook, we were having some useful conversation here until you introduced “tea bagging” Now, god knows where this thread will go.