Anybody else have the Oct 15th INcome tax Flu ?

Question

On my way to accountant.. writing checks that I could have only dreamed of years ago when I started  If I could have only made that amount of money gross I would have thought I died and gone to heaven  LOL...

But having write on's is not a bad thing... helps with being able to get the cheapest money out there to do your deals. As picky as lenders are these days.

Jay Hinrichs · Answer

@Natalie Kolodij  my accountant is even more conciliatory he says I am the winner this year !!!   I wish it was 82k

My bother in law practices in Palo Alto and has a bunch of the high tech guys now they really get hammered with 7 and 8 figure checks  LOL  If I get to 7 that would be cool.

I guess that's being a reverse millionare

Linda Weygant · Answer

@Jay Hinrichs - I was on the opposite side of that coin.  Got my final three clients in the door last week after sending monthly reminders to get their information to me all summer.  Two of them had refunds coming...  None of them had anywhere near the numbers you had, but it was a VERY busy week for me.

Bryan Hancock · Answer

I mailed in a giant check to them about a month ago and they sent me a nasty letter saying they were going to seize my property about 2 weeks later.  I tried calling them repeatedly to say that the bill was already paid and their transcripts said so.  After waiting on hold for over an hour on about the 20th attempt to reach them their operator verified they "couldn't stop the letter from going out."  Gotta love the gov-mint.

Stuff like this wouldn't concern me if they weren't so incompetent.  For all I know the right hand wasn't talking to the left hand and the would charge me twice or some such.

Jay Hinrichs · Answer

@Steven Hamilton II  that's my next goal 7 figure tax payment... inching up there.

Steven Hamilton II · Answer

My winner this year cut a check in total to the IRS for $1.5m after withholding on 4/15 when we filed the extension. Total liability was not pretty.

Jay Hinrichs · Answer

@Stuart  Birdsong  its such a fine line.. being self employed lenders need to see that you have actual net income and paying tax's... then our goal is to minimize tax.

I guess it just depends on what you want your cost of capital to be.. If your not paying income tax you can pay more for your capital.. I guess one would really need to spread it to see the net effects.

Natalie Kolodij · Answer

Try being the person calling people on the 15th and saying...hey there...so good news: you made a lot of money! bad news: Can you drop a check in the mail for $82,000 today? Thanks.

Never feel bad for paying taxes- it means you made money ;)

Stuart Birdsong · Answer

Multiple income streams make it a lot more fun, right?

Anybody else have the Oct 15th INcome tax Flu ?

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