The Down Range Forum
Member Section => Down Range Cafe => Topic started by: TAB on May 14, 2021, 12:11:40 PM
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last year I made exactly zero dollars.... why do I still owe them 4k?
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last year I made exactly zero dollars.... why do I still owe them 4k?
Habit ?
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last year I made exactly zero dollars.... why do I still owe them 4k?
I really like Tom's smart ass remark!
Beyond that....all I can say is "Because."
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Because the IRS figures it differently from what's going on in real life. So does the SEC and the national CPA group.
I've taken several tax courses of the years and have tutored others who were struggling in the classes. I'd tell them it was real simple. Just leave "FAIR" at the door when you come to class. If in doubt about anything ask, "Which choice would benefit the IRS the most?"
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I really "liked" the years and years of stringing out my losses. However, I think now it is going to work to my benefit with Biden's tax hikes (so long as he and the
Nazi's, err United Socialist Party of Venezuela OK whatever Dems do not zero out historical losses).
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The funny thing is the misses is getting money back. She always has them take the max withholding. I never understood why you give the government an intrest free loan.
I have started helping people start businesses using my knowledge... I have lots of contacts in almost every trade. It is amazing at who you meet over the years by being nothing more than a glorified larborer.
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last year I made exactly zero dollars.... why do I still owe them 4k?
Did you have investment liquidation that was sitting in the deferred file? The type of money you realize from liquidating property that is not taxed today if you reinvest it within a given period of time.
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Required Minimum Distribution... really burns my ass
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Did you have investment liquidation that was sitting in the deferred file? The type of money you realize from liquidating property that is not taxed today if you reinvest it within a given period of time.
is was intrest.
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RE: RMD.
Yeah. Sucks. But then it's based on the 12/31 balance which for most of us was real low in for 2020. Means we're not taking out very much. Miss Kitty has an IRA that's grown 24% since 1/1 but RMD is only ~4%. I'll enjoy the extra year of earnings.
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Savings now are for hopeful fools.
Spend it fast while it still has value .
F#ck the tax man, the INFLATION man cometh.
The Piper wants paid for Covid.
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Savings now are for hopeful fools.
Spend it fast while it still has value .
F#ck the tax man, the INFLATION man cometh.
The Piper wants paid for Covid.
its already started. Fuel prices.
The sad reality is I doubt I could spend what I have if I tried, my brain does not let me spend money frivolous
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There's always buying physical gold and silver, can't really devalue that and people always want it.
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its already started. Fuel prices.
<snip>
You've seen these fuel prices before, multiple times in years past when a dollar purchased more than it does not...coming from an oil guy of course. So yes it is inflation and it is pain but it's been much higher before.
Food has really gone up. Basic goods are trending up. Housing materials are so high you'll get a nose bleed just by walking into the home despot or louseys.
Gold and silver have always been a hedge against real inflation and currency devaluation. It's really good to bring sweat equity from one economy that collapses into the new economy after the new economy is established for some time.
I'm with Tom, at least in part, to spend it now. That's why I have a tractor, tractor attachments, fences up, stock ponds, chain saws, tools, cows and other livestock along with a garden that's going to produce some yams to supplement the hay to feed the livestock through the winter.
I would suggest some food related stocks like ADM, CAG, and others. People got to eat.
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its already started. Fuel prices.
The sad reality is I doubt I could spend what I have if I tried, my brain does not let me spend money frivolous
What is this "Frivolous", to which you refer ? ;D
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What is this "Frivolous", to which you refer ? ;D
spending like the government.
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There's always buying physical gold and silver, can't really devalue that and people always want it.
Have you tried to buy any lately? $1800 gold (current asking price) is mostly unobtainable. I'm sure you can find $2400 gold anywhere.
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Gold is pretty useless any way.
I f the economy crashes so you have to start using it, no one will be able to make change.
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Gold is pretty useless any way.
I f the economy crashes so you have to start using it, no one will be able to make change.
That's why junk silver was invented!!! Gold is good to carry a lot of value from one economy to a new economy. For everyday purchases it's not the best option...open now the door for
junk silver.
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That's why junk silver was invented!!! Gold is good to carry a lot of value from one economy to a new economy. For everyday purchases it's not the best option...open now the door for
junk silver.
Lead and brass seem a better investment.
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Lead and brass seem a better investment.
Depends on what you got and if you want to be in the biz of selling lead!
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Alcohol and cigarettes. Have some in my bugout/emergency bags. Great trading fodder. Don't know about large quantities though. Neither are very roboust at being mishandled. However they are all much lighter than gold, silver, brass or lead.
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Lead and brass seem a better investment.
have you seen the cost of plywood? I just got a quote for the sub flooring for my house. 3/4"( well 23/32) t and g osb sub floor $91/ sheet.
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have you seen the cost of plywood? I just got a quote for the sub flooring for my house. 3/4"( well 23/32) t and g osb sub floor $91/ sheet.
And of course there is no inflation. What could you have gotten it for 18 months ago?
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And of course there is no inflation. What could you have gotten it for 18 months ago?
For one thing, you actually COULD get it 18 months ago
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And of course there is no inflation. What could you have gotten it for 18 months ago?
under 30. It made me go icf for the house.
Tom it is available, infact that product is pretty easy to get. Its not used very much compared too others. I am also going steel trusses and a metal roof because of the cost of osb at mid 60s a sheet.
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From what my friends (Yes, I have friends) are saying, the big pain comes from pressure treated.
Not only is the price through the roof, but none of it is straight.
All bowed warped, and twisted to crapunless you pick through the pile.
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From what my friends (Yes, I have friends) are saying, the big pain comes from pressure treated.
Not only is the price through the roof, but none of it is straight.
All bowed warped, and twisted to crapunless you pick through the pile.
the last part is nothing new
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I can once worked through an entire rack of 2x6 to find ten good boards at HD!
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That friggin' "Kiln Dried".
How do you get a 90 degree twist in a freaking 2X4 ?
Seems like if it was stacked the lumber on top would keep it straighter than that.
The Old man would only use rough lumber.
The job where he let the customer buy the lumber showed me why. :o