Income Tax Implications...

[Lucas McCain]

Dude, did you read any of what I just wrote about what 4/15 means to me and the other people who work for "the man?" You are saying the same thing that I said. Are you just in the mood to argue this morning? You do realize that we are agreeing about the same thing don't you?

[Chung Tran]

Originally Posted by Lucas McCain

Dude, did you read any of what I just wrote about what 4/15 means to me and the other people who work for "the man?" You are saying the same thing that I said. Are you just in the mood to argue this morning?

I did.. but you are talking about something I was not.. I understand April 15 is the filing deadline, but it is not the day taxes are due. when you say I am not correct about 97% not knowing when taxes are due, I gave my reasons why. you were not addressing my statement, you were off on a tangent.

I realize the difference is subtle, but it is a true difference.. and as I stated, not paying the tax when it is due (when earned) can increase your total taxes substantially.

you should understand if you have a CPA license.

[Lucas McCain]

Originally Posted by Chung Tran

I did.. but you are talking about something I was not.. I understand April 15 is the filing deadline, but it is not the day taxes are due. when you say I am not correct about 97% not knowing when taxes are due, I gave my reasons why. you were not addressing my statement, you were off on a tangent.

I realize the difference is subtle, but it is a true difference.. and as I stated, not paying the tax when it is due (when earned) can increase your total taxes substantially.

you should understand if you have a CPA license.

My point was simple. You would understand if you actually had a CPA license. Anyway, ramble on if you like. I have no idea what was so hard to understand about what I was saying but whatever...I guess what I was originally saying is that this thread shouldn't have been bumped in the first place so I hope the dude who bumped it got some clarity about taxes and the due date.

[Chung Tran]

your point was simple, but mine was complex.. I think you just didn't want to deal with the broader and fine points of my post. nothing wrong with that..

[Grace Preston]

I thought Tran was boycotting Coed.

[Lucas McCain]

Originally Posted by Chung Tran

your point was simple, but mine was complex.. I think you just didn't want to deal with the broader and fine points of my post. nothing wrong with that..

I'm a CPA and you bore me with your inability to understand me. You're a clown with a keyboard who will argue all day about this shit even though you don't know enough to know that I am agreeing with you. I can't dumb this shit down more for you to understand. And I'm dealing with a post whore who has 6 times more posts than me so you're just going to argue about fucking nothing all day. Have fun. I have better shit to do today.

Originally Posted by Grace Preston

I thought Tran was boycotting Coed.

I guess her pussy is not hurt anymore so she's back

The little girl must have finally stopped her whining: https://eccie.net/showthread.php?t=2216638

[Chung Tran]

Originally Posted by Lucas McCain

I'm a CPA and you bore me with your inability to understand me. You're a clown with a keyboard who will argue all day about this shit even though you don't know enough to know that I am agreeing with you.

you bore me with your incessant childishness. I don't care if you are a CPA.. you were not agreeing with me, at no point did you appear to understand any nuance in what I posted.. I understand your simplification of saying April 15, I told you I got it.. and there is nothing wrong with that idea. but you had to hurl insults because that is who you are. you couldn't stop and walk away. which is true for any thread for which you appear.

you hang around a Pussy Board to troll and deliver stupid insults. you don't see Providers.. why do you bother?

[Lucas McCain]

Do I have a 500 second limit or do you for being a troll? Let's find out. Too easy. Some little girl seems upset. I thought we were talking about taxes. What a troll.

[Bestman200600]

She's an expat with less than 182 days in country. No return filed.

[TexTushHog]

If you had to withhold, and one who is self employed and earned significant income almost certainly does, it is too late to pay without penalty, as Chung has pointed out despite some being too dense or argumentative to understand. But better late than never.

[Lucas McCain]

Originally Posted by TexTushHog

If you had to withhold, and one who is self employed and earned significant income almost certainly does, it is too late to pay without penalty, as Chung has pointed out despite some being too dense or argumentative to understand. But better late than never.

Dude, what the fuck are you even talking about? Are you this dense? The OP was SP trolling to fuck with people. The person who bumped this old ass thread was looking for attention. Do you think she earned "significant income?" What's so fucking hard to figure out here?

Let's say I took the OP remotely seriously, the answer would still be 4/15. You two clowns with stick up your asses want to argue about shit that's not even worth arguing about. What part of the OP fucking around with people did you guys not get after or around her 3rd sentence?

Yeah yeah yeah. I know. I just bumped this stupid shit myself. I can take the insults for being a dipshit for bumping it again because I deserve them. My bad

[grean]

In general, If an individual's pay is not withheld by an employer, that individual must make quarterly tax deposits similar to corporations.

If you need to file an extension because your not ready to file your tax report, your estimated payment is still due on the date it's due. The extensions are just for reporting not payments. If you need a payment plan, those are available in some cases.

If you end up owing 8 but already pay 7, your late fee will only be based off the 1 that is due. However, the IRS may not care about the late fee on 1...maybe. it's better to pay what you think you may owe than not pay at all.

Filing Due dates and Payment due dates, which may be different can all be found on www.irs.gov along with other useful information.

No, you shouldn't put prostitute as your occupation.

You're an entertainer, and yes, there is a code for that to include on your tax forms.

Yes, you should seek out a hobby friendly cpa who can help.

Talk to the girls in the powder room.

Cheers.

[Grace Preston]

Originally Posted by TexTushHog

If you had to withhold, and one who is self employed and earned significant income almost certainly does, it is too late to pay without penalty, as Chung has pointed out despite some being too dense or argumentative to understand. But better late than never.

Depends. If it is the individuals first year in business, they will not be penalized for not filing quarterly. Beyond that first year, quarterly filings are required to avoid penalties and interest. So in reality-- both answers are correct depending on the circumstance.

[TexTushHog]

Originally Posted by Lucas McCain

Dude, what the fuck are you even talking about? Are you this dense? The OP was SP trolling to fuck with people. The person who bumped this old ass thread was looking for attention. Do you think she earned "significant income?" What's so fucking hard to figure out here?

Let's say I took the OP remotely seriously, the answer would still be 4/15. You two clowns with stick up your asses want to argue about shit that's not even worth arguing about. What part of the OP fucking around with people did you guys not get after or around her 3rd sentence?

Yeah yeah yeah. I know. I just bumped this stupid shit myself. I can take the insults for being a dipshit for bumping it again because I deserve them. My bad

Too bad your not my accountant, eh? I wouldn’t have to file these 1040-ES every quarter.

[Chung Tran]

Originally Posted by Grace Preston

If it is the individuals first year in business, they will not be penalized for not filing quarterly. Beyond that first year, quarterly filings are required to avoid penalties and interest.

you are generalizing like your friend Lucas.

if it is an Individual's first year in business, he MAY not be penalized.. not will not.. MAY not. it depends, and is contingent on IRS approval.. it is not automatic.

and you miss the whole point of quarterly filing.. it is not about "you must" file quarterly, or if you do file quarterly, you avoid penalties and interest.

let me educate you and Lucas.. I'm sure he will hurl insults and call me a "little girl", and tell me he's bored. he needs some new slogans, he keeps recycling these tired clichés.

the reason someone (or an entity) files quarterly, is to spread out tax payments.. IRS doesn't care if you file quarterly, it is an option afforded for your convenience.. much like the County allows you to split property tax payments. the quarterly payment option is meant to approximate (within reasonable boundaries) the monthly or weekly withholding employees incur from their paychecks.. remember what I said before? the tax on income earned is due when you earn the associated income.

if you pay quarterly, you must still remit enough of the tax due each payment, and within the time frame allowed.. thus paying quarterly does not necessarily absolve you of penalty or interest.

the payments need not be equal.. if you pay more in the early quarters, and still fall short of paying the total tax due after 4 quarterly payments, your interest charges are reduced, based on the time value of money concept.