Tax season is here
Comments
-
mrbigbluelight wrote: »Well, Joey, you've come to the right place for solutions to your taxes.
The annual gift tax exclusion is currently $14,000 per year, per person. This applies to monetary gifts, as well as to the fair market value of gifted property. You can give up to this amount to as many people you'd like every year, and the federal government won't tax one cent.
So there you have it. I imagine that there may be a few Polkies willing to step up and accept a gift of $14,000 if it helps to lower your tax burden because, darn it, that's just the way we are !
You have a truely generous soul -
You guys are too much, thanks for the laugh.
I knew about this damage so I put away a dedicated account for this so the hit was not particularly painful (wait that’s not true... not unbearable but still painful).
Only problem what I owe was still greater than what I had saved by a margin.
Unfortunate, but hopefully next year is better.Magico M2, JL113v2x2, EMM, ARC Ref 10 Line, ARC Ref 10 Phono, VPIx2, Lyra Etna, Airtight Opus1, Boulder, AQ Wel&Wild, SRA Scuttle Rack, BlueSound+LPS, Thorens 124DD+124SPU, Sennheiser, Metaxas R2R -
mrbigbluelight wrote: »Well, Joey, you've come to the right place for solutions to your taxes.
The annual gift tax exclusion is currently $14,000 per year, per person. This applies to monetary gifts, as well as to the fair market value of gifted property. You can give up to this amount to as many people you'd like every year, and the federal government won't tax one cent.
So there you have it. I imagine that there may be a few Polkies willing to step up and accept a gift of $14,000 if it helps to lower your tax burden because, darn it, that's just the way we are !
I think the tax break goes to the recipient not the donor! HahahaMagico M2, JL113v2x2, EMM, ARC Ref 10 Line, ARC Ref 10 Phono, VPIx2, Lyra Etna, Airtight Opus1, Boulder, AQ Wel&Wild, SRA Scuttle Rack, BlueSound+LPS, Thorens 124DD+124SPU, Sennheiser, Metaxas R2R -
I'm thinking you need to talk to @tonyb and see if you can get some of his guys to hook you up with one of their tax guys.
-
LolMagico M2, JL113v2x2, EMM, ARC Ref 10 Line, ARC Ref 10 Phono, VPIx2, Lyra Etna, Airtight Opus1, Boulder, AQ Wel&Wild, SRA Scuttle Rack, BlueSound+LPS, Thorens 124DD+124SPU, Sennheiser, Metaxas R2R
-
mrbigbluelight wrote: »Well, Joey, you've come to the right place for solutions to your taxes.
The annual gift tax exclusion is currently $14,000 per year, per person. This applies to monetary gifts, as well as to the fair market value of gifted property. You can give up to this amount to as many people you'd like every year, and the federal government won't tax one cent.
So there you have it. I imagine that there may be a few Polkies willing to step up and accept a gift of $14,000 if it helps to lower your tax burden because, darn it, that's just the way we are !
In that case, in with 69.....great Karma.
HT SYSTEM-
Sony 850c 4k
Pioneer elite vhx 21
Sony 4k BRP
SVS SB-2000
Polk Sig. 20's
Polk FX500 surrounds
Cables-
Acoustic zen Satori speaker cables
Acoustic zen Matrix 2 IC's
Wireworld eclipse 7 ic's
Audio metallurgy ga-o digital cable
Kitchen
Sonos zp90
Grant Fidelity tube dac
B&k 1420
lsi 9's -
I'm thinking you need to talk to @tonyb and see if you can get some of his guys to hook you up with one of their tax guys.
Actually, I have a great accountant. Dude is also my neighbor, lives across the street.
I paid once in my life so far at the end of the year, to the tune of 10K. Never again. Obviously though, if your single making good coin, or married and both of you are making good coin and with no kids, not a homeowner or business owner, no deductions... bend over....your governments wet dream.
HT SYSTEM-
Sony 850c 4k
Pioneer elite vhx 21
Sony 4k BRP
SVS SB-2000
Polk Sig. 20's
Polk FX500 surrounds
Cables-
Acoustic zen Satori speaker cables
Acoustic zen Matrix 2 IC's
Wireworld eclipse 7 ic's
Audio metallurgy ga-o digital cable
Kitchen
Sonos zp90
Grant Fidelity tube dac
B&k 1420
lsi 9's -
I paid once in my life so far at the end of the year, to the tune of 10K. Never again
So what did you do to avoid this situation again. Quit working, took a lesser paying job, sold your company, went on disability. It is either a pay me now or pay me later scenario.
The best way to predict the future is to invent it.
It is imperative that we recognize that an opinion is not a fact. -
Here's where my refund went lol
-
*raises hand* YEP.
Obviously though, if your single making good coin, or married and both of you are making good coin and with no kids, not a homeowner or business owner, no deductions... bend over....your governments wet dream.
-
motorstereo wrote: »Here's where my refund went lol
Dang... I'm jealous!!!
I went the reverse... x 17.Magico M2, JL113v2x2, EMM, ARC Ref 10 Line, ARC Ref 10 Phono, VPIx2, Lyra Etna, Airtight Opus1, Boulder, AQ Wel&Wild, SRA Scuttle Rack, BlueSound+LPS, Thorens 124DD+124SPU, Sennheiser, Metaxas R2R -
^^^^^^Dang.........Joey V jealous of something I own??? Who'd have thunk it
.
-
Same here. A club I'm not particularly happy to be a part of.
Post edited by [Deleted User] onHome Theater/2 Channel:
Front: SDA-2ATL forum.polkaudio.com/discussion/143984/my-2as-finally-finished-almost/p1
Center: Custom Built forum.polkaudio.com/discussion/150760/my-center-channel-project/p1
Surrounds & Rears: Custom Built forum.polkaudio.com/discussion/151647/my-surround-project/p1
Sonicaps, Mills, RDO-194s-198s, Dynamat, Hurricane Nuts, Blackhole5
Pioneer Elite VSX-72TXV, Carver PM-600, SVS PB2-Plus Subwoofer
dhsspeakerservice.com/ -
-
motorstereo wrote: »^^^^^^Dang.........Joey V jealous of something I own??? Who'd have thunk it .
He's been eyeing one for the pantry system. -
LOL... i just checked my online banking... at 1201AM, the IRS withdrew their share. It's not even banking hours and took me out! Sneaky sneaky
Post edited by [Deleted User] onMagico M2, JL113v2x2, EMM, ARC Ref 10 Line, ARC Ref 10 Phono, VPIx2, Lyra Etna, Airtight Opus1, Boulder, AQ Wel&Wild, SRA Scuttle Rack, BlueSound+LPS, Thorens 124DD+124SPU, Sennheiser, Metaxas R2R -
Geez that was painful. hahaha
dry run...Magico M2, JL113v2x2, EMM, ARC Ref 10 Line, ARC Ref 10 Phono, VPIx2, Lyra Etna, Airtight Opus1, Boulder, AQ Wel&Wild, SRA Scuttle Rack, BlueSound+LPS, Thorens 124DD+124SPU, Sennheiser, Metaxas R2R -
Just filed my extension. Yes I’m a procrastinator Basement: Polk SDA SRS 1.2tl's, Cary SLP-05 Pre with ultimate upgrade,McIntosh MCD301 CD/SACD player, Northstar Designs Excelsio DAC, Cambridge 851N streamer, McIntosh MC300 Amp, Silnote Morpheus Ref2, Series2 Digital Cables, Silnote Morpheus Ref2 Series2 XLR's, Furman 15PFi Power Conditioner, Pangea Power Cables, MIT Shotgun S3 IC's, MIT Shotgun S1 Bi-Wire speaker cables
Office: PC, EAR Acute CD Player, EAR 834L Pre, Northstar Designs Intenso DAC, Antique Sound Labs AV8 Monoblocks, Denon UDR-F10 Cassette, Acoustic Technologies Classic FR Speakers, SVS SB12 Plus sub, MIT AVt2 speaker cables, IFI Purifier2, AQ Cinnamon USB cable, Groneberg Quatro Reference IC's
Spare Room: Dayens Ampino Integrated Amp, Tjoeb 99 tube CD player (modified Marantz CD-38), Analysis Plus Oval 9's, Zu Jumpers, AudioEngine B1 Streamer, Klipsch RB-61 v2, SVS PB1000 sub, Blue Jeans RCA IC's, Shunyata Hydra 8 Power Conditioner
Living Room: Peachtree Nova Integrated, Cambridge CXN v2 Streamer, Rotel RCD-1072 CD player, Furman 15PFi Power Conditioner, Polk RT265 In Wall Speakers, Polk DSW Pro 660wi sub
Garage #1: Cambridge Audio 640A Integrated Amp, Project Box-E BT Streamer, Polk Tsi200 Bookies, Douglas Speaker Cables, Shunyata Power Conditioner
Garage #2: Cambridge Audio EVO150 Integrated Amplifier, Polk L200's, Analysis Plus Silver Oval 2 Speaker Cables, IC's TBD. -
-
-
GeezMagico M2, JL113v2x2, EMM, ARC Ref 10 Line, ARC Ref 10 Phono, VPIx2, Lyra Etna, Airtight Opus1, Boulder, AQ Wel&Wild, SRA Scuttle Rack, BlueSound+LPS, Thorens 124DD+124SPU, Sennheiser, Metaxas R2R
