BET7
Ronin
Yeah Bob, I’m with you there too. No check for 2nd time and I also owe Uncle Sam & State about 2K in taxes for 2020. I don’t know how I’m going to pay all these debts
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Behold the latest acquisition!
- Thread starter OkiePewPew
- Start date
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Annihilator
Emissary
Sell @10mmLife your yeet cannon collection, he is gullible.....Yeah Bob, I’m with you there too. No check for 2nd time and I also owe Uncle Sam & State about 2K in taxes for 2020. I don’t know how I’m going to pay all these debts
Bassbob
Emissary
Yeah Bob, I’m with you there too. No check for 2nd time and I also owe Uncle Sam & State about 2K in taxes for 2020. I don’t know how I’m going to pay all these debts
My wife is a CPA and she's always pretty good about getting me to break even or +/- $500 by the end of the year. I think I paid a couple hundred at the end of this year.
BET7
Ronin
Yeah, I try to do the same. My problem is that I usually receive a yearly Mutual Fund investment capital gains dividend that gets reinvested into the fund. I never know what that amount will be until the end of the year. I try to estimate it and included it in my required estimated tax payments for the following tax year. I never actually get that income until I start selling the shares, but it’s counted as income by Feds & State. Currently I’m living on a fixed pension that would qualify for full amounts of all the COVID stimulus checks issued to date. Unfortunately the government thinks I’m rich (I also have to pay higher Medicare premiums due to this also), and I’m not savvy enough like Congress people or Senators to hide this income to pay no taxes on it
. Fortunately, between my pension and savings I collected while working (now retired), I’m able to enjoy my hobby of firearms collecting 
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Bassbob
Emissary
Yeah, I try to do the same. My problem is that I usually receive a yearly Mutual Fund investment capital gains dividend that gets reinvested into the fund. I never know what that amount will be until the end of the year. I try to estimate it and included it in my required estimated tax payments for the following tax year. I never actually get that income until I start selling the shares, but it’s counted as income by Feds & State. Currently I’m living on a fixed pension that would qualify for full amounts of all the COVID stimulus checks issued to date. Unfortunately the government thinks I’m rich (I also have to pay higher Medicare premiums due to this also), and I’m not savvy enough like Congress people or Senators to hide this income to pay no taxes on it
If your money guy can't hide it, it probably can't be hidden unfortunately. Although I would almost guarantee there is some way to invest it which would lessen your tax burden.
BET7
Ronin
He already bought that last year. Only gave me $300 for the whole lot, that cheapskate
. I’d have to sell him 5x that collection to come close to break even on the 500 mag alone. 10mm must throw all his money into that decrepit chicken 
coop.
BET7
Ronin
Well it’s taxed at the capital gains rate, so it’s not taxed at full rate like my pension is. So I’m thankful for small favors I guess
Don't call the Taj Ma-coop decrepit......He already bought that last year. Only gave me $300 for the whole lot, that cheapskate
jmcd
Professional
Very nice @OkiePewPew.