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This has nothing to do with bikes, but I just wanted to vent someplace, thought you might get a laugh at what I wrote on my refund cheque!
Well, I'm Pee'd off with my return, first time in 17 yrs. I've had to pay, and it comes at a time when money is short.
So, to vent and make myself feel better I added a little comment on my refund cheque. I don't know what kind of response I'll get from the tax man, if any, but it made me feel better!
What do you think?
Just noticed, I was so Pee'd I even spelled General wrong!!!
Self-Employment takes dicipline to save up that $$$... I had to cut a 5 figure (just) payment to the feds last week... that was fun.
I'm still waiting for them to re-allow my son as an equivilant-dependent from 2006 (last year I was legally single)... they still claim I owe them another $2000... this is the same department that told me my same son's disability had expired... I thanked them for their good thoughts and then told them to sod off ;D
You're self employed? I strongly suggest you start working with Quick Books, as of NOW! You're going to have to do a Schedule C (at least) for next year, and Quick Books will interface directly with Turbo Tax, saving you a whole load of agony trying to figure out your final income tax next year. When I ran my sutlery business in the 90's, and then spent the first half of this decade doing the bookkeeping for my wife's real estate career, it was invaluable in figuring out taxable profit, factoring in deductions for the home office, vehicle use, etc.
Biggest reality of self-employment: Find every possible justification to listing personal expenses under the business. You don't actually have to take a profit the first year (I think the IRS standard is a profit in three years out of five for the business to be considered legitimate). In the past, I was in a situation where I was in a rear-ended hit and run on my ZX-6R that left me with $6000.00 in uninsured medical bills, thanks to a Blue Cross/Blue Shield screwup that left me uninsured for a three week period - of course, this is when the accident happened.
As I was heading to the fabric store for some production materials when the acccident occurred, I charge the medical bills to the business, and saved myself a small fortune over a period of six months paying the hospital back. And lowered my profit (on paper), thus lowering my taxes for that year. And it was legal.
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