Income taxes are out of control
| slate masturbator | 05/28/16 | | bateful apoplectic pit | 05/28/16 | | Useless stirring ratface principal's office | 05/28/16 | | slate masturbator | 05/28/16 | | Useless stirring ratface principal's office | 05/28/16 | | slate masturbator | 05/28/16 | | Useless stirring ratface principal's office | 05/28/16 | | slate masturbator | 05/28/16 | | Impertinent Home | 05/28/16 | | Racy irate love of her life mood | 05/28/16 | | provocative factory reset button | 05/28/16 | | Copper whorehouse | 05/28/16 | | slate masturbator | 05/28/16 | | Copper whorehouse | 05/28/16 | | high-end lodge fortuitous meteor | 05/28/16 | | vivacious fear-inspiring site travel guidebook | 05/28/16 | | jet narrow-minded indian lodge | 05/28/16 | | godawful greedy wrinkle | 05/28/16 | | bateful apoplectic pit | 05/28/16 | | titillating locus | 05/28/16 | | Self-absorbed Mind-boggling Feces | 05/28/16 | | godawful greedy wrinkle | 05/28/16 | | Useless stirring ratface principal's office | 05/28/16 | | godawful greedy wrinkle | 05/28/16 | | Useless stirring ratface principal's office | 05/28/16 | | godawful greedy wrinkle | 05/28/16 | | Vigorous Hateful Faggot Firefighter | 05/28/16 | | Self-absorbed Mind-boggling Feces | 05/28/16 | | slate masturbator | 05/28/16 | | violent hunting ground | 05/28/16 | | Exciting Harsh Codepig Spot | 05/28/16 | | slate masturbator | 05/28/16 |
Poast new message in this thread
Date: May 28th, 2016 1:10 AM Author: slate masturbator
Netted 800k in investment gains last year through short-term cap gains, and I just sent a fucking 350k check to the IRS and NYS tax authorities because the marginal tax rate combined is ~49% for ordinary income, including short-term cap gains. My effective tax rate overall is over 40 fucking percent. On the flip side, if I had LOST 800k last year, I'd only be allowed to deduct 3k from taxable income for that year and max 3k in any given subsequent year. How fucked is that?
Had to request an extension on submitting my tax return to come up with the cash (I re-invested all the cash into other investments then had to liquidate some at an inopportune time, probably costing me another 50k in lost earnings), and I just sent the money now.
Probably a 0.1% person problem, but I'm sort of drunk and mad hence the post -- apologies in advance for the rant.
(http://www.autoadmit.com/thread.php?thread_id=3236367&forum_id=2#30574910) |
|
Date: May 28th, 2016 11:11 AM Author: Useless stirring ratface principal's office
Literally as simple as your CPA (I suppose you could do it yourself, but for me it's always been my CPA) writing a letter giving a very simple explanation for your late payment. If this is the first time it's happened definitely include that as well.
I have filed for an extension the last 3-4 years because of delayed K1s and the couple of times I've gotten a penalty I've had it removed and just have to pay the interest. The most recent time I even asked my CPA to request the interest to be removed as well but the IRS said no to that. Was worth a shot.
I'm not sure why it's so easy. Maybe so few people actually request it?
(http://www.autoadmit.com/thread.php?thread_id=3236367&forum_id=2#30575821)
|
Date: May 28th, 2016 2:51 AM Author: Impertinent Home
I lost 200K last year
who cares its life you win some and you lose
(http://www.autoadmit.com/thread.php?thread_id=3236367&forum_id=2#30575102) |
Date: May 28th, 2016 2:57 AM Author: Copper whorehouse
why did you realize st capital gains? you should be trying to defer investment gains for as long as possible. with a 35%+ tax drag you have to be crazy smart just to stay abreast of some simple indexes.
btw, if you had lost $800k, you would've been able to carry them forward to offset future gains
(http://www.autoadmit.com/thread.php?thread_id=3236367&forum_id=2#30575120) |
Date: May 28th, 2016 5:23 AM Author: godawful greedy wrinkle
You are 1% faggot, u deserve to pay high taxes. In the 70's you'd pay like 90% and u still wld in many countries pay higher so STFU.
Ur dumb for making these ST gains and not waiting for LT
(http://www.autoadmit.com/thread.php?thread_id=3236367&forum_id=2#30575229) |
|
|