Bigrunner Posted January 12, 2017 Report Share Posted January 12, 2017 Made about 200k already in 2017? Wowzers.How do you pay your Federal and State income taxes? Quote Link to comment Share on other sites More sharing options...
Bigrunner Posted January 12, 2017 Report Share Posted January 12, 2017 On pace for 5M this year, better be a big cut.My bad. This question is for you. How do you pay in your Federal and State income taxes making a chunk of change like that? Quote Link to comment Share on other sites More sharing options...
JTGAMBLE Posted January 12, 2017 Report Share Posted January 12, 2017 Probably quarterly. Quote Link to comment Share on other sites More sharing options...
rito Posted January 12, 2017 Report Share Posted January 12, 2017 My bad. This question is for you. How do you pay in your Federal and State income taxes making a chunk of change like that? Probably quarterly. You are supposed to pay estimated quarterly. I don't and just pay once the next year and pay the fines/interest for not paying quarterly. It's not that much. Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted January 12, 2017 Author Report Share Posted January 12, 2017 Paying quarterly for squares Quote Link to comment Share on other sites More sharing options...
JTGAMBLE Posted January 12, 2017 Report Share Posted January 12, 2017 Fishhead are you on pace to make as much as Rito this year? Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted January 12, 2017 Author Report Share Posted January 12, 2017 No, or even close. Quote Link to comment Share on other sites More sharing options...
spankie Posted January 12, 2017 Report Share Posted January 12, 2017 FH Do you know when BFK's free WEEKLY burger for a year expires?????? Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted January 12, 2017 Author Report Share Posted January 12, 2017 Spankie, it did many weeks ago. Quote Link to comment Share on other sites More sharing options...
spankie Posted January 12, 2017 Report Share Posted January 12, 2017 Buried Quote Link to comment Share on other sites More sharing options...
Blue Posted January 12, 2017 Report Share Posted January 12, 2017 Even foxnews is standing behind cnn vs trump. A lot of blind sheep here at TGF. Quote Link to comment Share on other sites More sharing options...
Bigrunner Posted January 12, 2017 Report Share Posted January 12, 2017 You are supposed to pay estimated quarterly. I don't and just pay once the next year and pay the fines/interest for not paying quarterly. It's not that much.For someone at 5 million a year with no taxes paid in your underpayment of estimated tax penalties could be significant? If your income is expected to increase in 2017 you can penalty proof yourself by paying 110% of your 2016 tax liability. Spread it out over 4 equal quarterly estimated tax payments. April 15,June 15, Sept 15, and Jan. 15. Quote Link to comment Share on other sites More sharing options...
joeybagadonuts Posted January 12, 2017 Report Share Posted January 12, 2017 Even foxnews is standing behind cnn vs trump. A lot of blind sheep here at TGF.I was honestly shocked by that. Good on faux news for doing the right thing for and reporting honestly for once. CNN could take a cue rom them. Quote Link to comment Share on other sites More sharing options...
trytrytry Posted January 12, 2017 Report Share Posted January 12, 2017 Trump tilted, it is what it is, there is so much pressure for him to be ready and he has no idea how to approach any of it right now. lets give him a couple mulligans. he will be our president so have to get him going a bit soon. Quote Link to comment Share on other sites More sharing options...
Bfo Posted January 12, 2017 Report Share Posted January 12, 2017 Have fun spending another 4 years obsessing about shit that doesn't affect you. I'm retiring.You can probably say the same thing to these idiots obsessing over Trump as well. Hell I was pissed about Obama for awhile, especially after his response to the Ft Hood massacre, but I got over it. Some of these far left posters are going to go gray dwelling on this shit day in and day out. Quote Link to comment Share on other sites More sharing options...
joeybagadonuts Posted January 12, 2017 Report Share Posted January 12, 2017 You can probably say the same thing to these idiots obsessing over Trump as well. Hell I was pissed about Obama for awhile, especially after his response to the Ft Hood massacre, but I got over it. Some of these far left posters are going to go gray dwelling on this shit day in and day out.Yup incredible how annoying and pathetic both sides reallyare. I don't even consider what is discussed here most of the time "politics" since neither side even understands the issues or how the government works. Quote Link to comment Share on other sites More sharing options...
mikeman Posted January 12, 2017 Report Share Posted January 12, 2017 Trump tilted, it is what it is, there is so much pressure for him to be ready and he has no idea how to approach any of it right now. lets give him a couple mulligans. he will be our president so have to get him going a bit soon.Ahhh, i think you have it backwards, the media tilted, Trump stomped them down into the dirt with his boot and left them scrambling to "explain" their rational. In 9 days the world will change, prob 95% for the good. Quote Link to comment Share on other sites More sharing options...
Mr. NBA Posted January 12, 2017 Report Share Posted January 12, 2017 So you expect no crime's or mass shootings to take place in a country where buying a gun is nearly as easy as purchasing a pack of cigarettes? And there it is folks ......the stupidest comment of the thread. And that's saying something. How many guns have you purchased Timely? Dumbass. Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted January 12, 2017 Author Report Share Posted January 12, 2017 For someone at 5 million a year with no taxes paid in your underpayment of estimated tax penalties could be significant? If your income is expected to increase in 2017 you can penalty proof yourself by paying 110% of your 2016 tax liability. Spread it out over 4 equal quarterly estimated tax payments. April 15,June 15, Sept 15, and Jan. 15.As Rito stated, no need to do such if one has proper money management........the penalty is so low that the money not paid in quarterly taxes can be put to work to far offset that penalty. Quote Link to comment Share on other sites More sharing options...
WVU Posted January 12, 2017 Report Share Posted January 12, 2017 Not sure what you guys consider substantial but these penalties aren't pennies. 1st quarter 3%2nd quarter 4%3rd quarter 4%4th quarter TBD Those penalties can be substantial if you pay a lot of tax. Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted January 12, 2017 Author Report Share Posted January 12, 2017 i have no problem with people paying quarterly taxes, most should. Quote Link to comment Share on other sites More sharing options...
CarolinaKid Posted January 12, 2017 Report Share Posted January 12, 2017 i would hope after the 20th, nobody would talk about obama again and just let him go off into the sunset Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted January 12, 2017 Author Report Share Posted January 12, 2017 Will any posters be attending the gala inauguration on the 20th?? Quote Link to comment Share on other sites More sharing options...
CarolinaKid Posted January 12, 2017 Report Share Posted January 12, 2017 i have my tuxs and heading up here with my buddy for the parties ect, staying in the city at trump national where we can walk to see the parade as well Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted January 12, 2017 Author Report Share Posted January 12, 2017 That's awesome CK Stay safe Quote Link to comment Share on other sites More sharing options...
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