Monday is tax day. Anyone else making major changes to their tax planning this year after filing? We are getting a refund this year which means they got to use our money instead of us. Might have been because I bumped up my 401k withholding.
-
ODT Gun Show & Swap Meet - May 4, 2024! - Click here for info
Tax Day
- Thread starter Allsmiles
- Start date
I wrote two checks yesterday and got them mailed.
I owe. And I'll pay on the 15th, no sooner.
I wish I only had 2 checks to write. I also had to write Q1 checks for business. However, they were less than last year.
^^This^^with filed extensions and payments in full (based on 100% of last year's liability), to State and Feds. It definitely helps to maximize IRA and 401K contributions but I never actually submit final returns until the end of the 6-month extensions.
What happens if you just don't do it? Serious question. Like for 2 years.
I keep good records and my yearly goal is to be within 1k total on either side. I consider this a break even point for us. I've had to file extensions; but with the extra accountant costs, it's just as easy to settle up and keep on living.
**** them. I paid out.
Depends on if you owe or not. If you owe, they are racking up interest on you as well as penalties. If they owe you, then get your money.
If you have NEVER filed a return, maybe you will get lucky but they usually catch you by year 3 to 5. There won't be forgiveness and it will hurt.
Ever hear of Ruby Ridge? Waco? Yeah, even those guys paid their taxes on time…
RIP dude.
Either that or you become a US senator.
