Taxes 👎👎👎👎

[Davesgone]

Anyone else in the dental lab business getting hosed with high quarterly taxes?
Unbelievable!!!

 

[TheLabGuy]

Anyone else in the dental lab business getting hosed with high quartet taxes?
Unbelievable!!!

Yep, makes me cringe. Makes you not want to work more. Fkn America, punishing success since July 2nd, 1909.

 

[rkm rdt]

You think your taxes are high? We pay tax on our taxes!

 

[Mike2]

I love it the higher the quarterly Taxes the more your making, unless my account is wrong. All kidding aside it is BS, my accoiunt figures the quarterly based on previous sales, but if I have a bad year or pandemic, then gov. gets free loan from me. I usually just apply overpayment to first quarter tax but god forbid if I'm a day late with my payment, they charge interest that really gets me. Oh well, best country in the world even with its' flaws.

 

[Affinity]

whats your corporate structure?

 

[RDA]

Someone has to fund the "entitlements" , a war that we should have no part of, and oh yeah student loan forgivness..................Thanks Big Brother....

 

[Doris A]

Quarterly taxes, HA! Our state has us doing them monthly now!

 

[zero_zero]

Taxes ? What are taxes ? ... ca$h only for this guy

 

[desertfox384]

Of course ! We’re all getting hosed by at least the feds- some lucky ones live in Florida or Tennessee and don’t pay state income tax. I’d love to hear what everyone is doing to lower their tax burden!

 

[Davesgone]

whats your corporate structure?

LLC

 

[Davesgone]

Of course ! We’re all getting hosed by at least the feds- some lucky ones live in Florida or Tennessee and don’t pay state income tax. I’d love to hear what everyone is doing to lower their tax burden!

I was hoping to get some ideas from the group.

 

[desertfox384]

I’m an Llc and use scorp status. There’s a slight tax advantage as an scorp.

 

[adl]

I was hoping to get some ideas from the group.

Invest into your retirement , but that can be a challenge as well .

 

[Brett Hansen CDT]

Imagine if our tax system wasn't skewed to benefit the richest Americans. They lobby the government for tax cuts and promise us the benefits from the "trickle down." I used to think it was a sound strategy when I was in my 20's. But I've been alive long enough now to see enough evidence to say it does not.

 

[rkm rdt]

Imagine if our tax system wasn't skewed to benefit the richest Americans. They lobby the government for tax cuts and promise us the benefits from the "trickle down." I used to think it was a sound strategy when I was in my 20's. But I've been alive long enough now to see enough evidence to say it does not.

Imagine still thinking that the richest Americans are somehow separate from the politicians and need to lobby to gain tax advantages. C’mon man !

 

[Brett Hansen CDT]

Imagine still thinking that the richest Americans are somehow separate from the politicians and need to lobby to gain tax advantages. C’mon man !

Gotta be independently wealthy to run for just about any political office in this country. I don't make the rules, it's just the nature of the beast. I don't think all politicians are terrible people though. There are many who are actually there to try and make our country better. I judge them on their policies. Many of them would love to change the tax code so it is fairer.

 

[Gru]

Invest into your retirement , but that can be a challenge as well .

They will end up heavily taxing those retirement dollars as well. Someone will have to pay for the bloated government and the freeloaders. Neither one produce anything, so it'll have to come from somewhere.

Gotta be independently wealthy to run for just about any political office in this country. I don't make the rules, it's just the nature of the beast. I don't think all politicians are terrible people though. There are many who are actually there to try and make our country better. I judge them on their policies. Many of them would love to change the tax code so it is fairer.

The few good ones get blocked or compromised by the bad- or quit in disgust- it's the nature of the beast. Fixing the tax system is as likely as all the politicians deciding they suck and stepping aside for others to attempt to do better. It is designed to benefit themselves and the wealthiest donors.

In answer to the original post:
Get a highly reputable accountant and do what they tell you. They will keep you out of trouble and reduce your tax burden to its legal minimum.

 

[zero_zero]

They will end up heavily taxing those retirement dollars as well. Someone will have to pay for the bloated government and the freeloaders. Neither one produce anything, so it'll have to come from somewhere.

Soon as CBDC's become mainstream there will be the total financial enslavement for the masses including total control how and where will you spend your money with geo-fencing and purchase quotas. Taxes will be automatically subtracted from each transaction. That time, the only thing left to support the grey P2P economy IMO will be privacy centered crypto's and tangible goods.

 

[rkm rdt]

Soon as CBDC's become mainstream there will be the total financial enslavement for the masses including total control how and where will you spend your money with geo-fencing and purchase quotas. Taxes will be automatically subtracted from each transaction. That time, the only thing left to support the grey P2P economy IMO will be privacy centered crypto's and tangible goods.

You’re stockpiling Bud Light aren’t you?

 

[desertfox384]

Crypto will be outlawed except the fedcoin. Guess it’s back to bartering cigarettes and cows