Rockdoc Franz wrote: Interesting. I'm somewhat in the same boat. Have not worked for half a year, borrowed money to stay afloat and it will be interesting to see if I get hit with estimated taxes. What? Borrow money so I can pay taxes on money I may or may not earn? That would take the cake.
Well I don't wanna give tax advice, but near as I can tell you need to pay throughout the year. They have no way to know which quarter the money was earned, unless you fill out special forms. So when in doubt, they just hammer you with a penalty. I usually just bend over and pay unless its alot.
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
Martin Ent Inc wrote: +1 there RD been self employed since 81'
Given what I've read of your postings in general, I expected you would head off on your own. You've far more to offer that way.
BTW what is included in your iron work? Wrought iron fences, gates?
You name it RD we have done it, we have gates/railings that are extreme for peeps (movie types) in Aspen, blah blah. So if it can be done we have either done it or welcome a new challenge.
Rockdoc Franz wrote: Interesting. I'm somewhat in the same boat. Have not worked for half a year, borrowed money to stay afloat and it will be interesting to see if I get hit with estimated taxes. What? Borrow money so I can pay taxes on money I may or may not earn? That would take the cake.
Well I don't wanna give tax advice, but near as I can tell you need to pay throughout the year. They have no way to know which quarter the money was earned, unless you fill out special forms. So when in doubt, they just hammer you with a penalty. I usually just bend over and pay unless its alot.
I think I'll fill out forms. I know my accountant started talking about paying estimated taxes, but there was no way to do that unless I came up with another line of credit. As it is I've been funding the business in part with my IRA.
