- This topic is empty.
-
Posts
-
Yeah, I had to send a few checks. I use “internet marketing” to describe what I do.
I got credits from 2007, took a little off the dam checks I had to write for Q1 od 2008
Hate writing checks big enough I could use to buy a new Fing car.
i had also to pay for my estimated income over 2008 :Cry:
Had to write a big check ,
@Shotgunpete 159786 wrote:
Did anyone else get hit with a big tax payment this year. Or am I and my business partner the only idiots claiming income from doing casino aff. marketing?
P.S. I’m in Canada
If you’re paying big taxes then you’re making good profits ..
:hattip:I can think of a million and one things I would rather do than file and pay taxes. LOL
I just wonder if Leona Helmsley’s dog has to pay taxes
Taxes in Canada are ridiculous. If you make serious money you should consider relocation offshore to a zero tax jurisdiction. If it wasn’t for all the taxes I paid to Canada I would be retired by now.
@Professor 159808 wrote:
The tax man cometh…. The Bank Account goeth away…
I couldn’t have said it any better.
I estimate how much I owe and pay it throughout the year, so I don’t get hit with a big payment at the end of the year.
I look at it this way, the more taxes I pay, the more money i’ve made and the more successful i’ve been. So I don’t mind paying what I owe as much.
My accountant rocks! I did just as Engineer, claimed as “Internet Marketing” After hearing many stories of other country’s taxes I am not about to complain.
@antoine 159814 wrote:
Taxes in Canada are ridiculous. If you make serious money you should consider relocation offshore to a zero tax jurisdiction. If it wasn’t for all the taxes I paid to Canada I would be retired by now.
That’s a consideration I make also. But – it’s hard getting my husband to move. He just loves it here.
And I agree – paying taxes means I made money.
Originally Posted by Professor
The tax man cometh…. The Bank Account goeth away…Yep.
I think this post at 2+2 forum will help us.
http://forumserver.twoplustwo.com/showthread.php?t=7Everyone pays every quarter I would think no or you get some serious penalties at least in the US.. I always cringe though at the April “even up” stage. Lats year I had to pay estimated earnings and a large sum to cover my shortfall on the fourth quarter of 2006, that was a sad day as I torched the checking account that month.
I try to put half of all earnings into a savings account right off and set it aside and still try to pay all bills, fun and taxes with the other half then if your hit with a surprise the savings is always sitting there waiting for the kids to hit college lol.
Quick side note on gambling vs tax I did NOT know.
You only need to pay taxes on games that offer high odds, I think but not sure it was anything that has over 100-1 odds. So you hit big on a slot that’s taxable, you make 2 million on blackjack that is NOT taxable.. saw that on a Vegas show where they interviewed the casino management. He said its a giant unknown and people assume they need to pay taxes. Hence they only require you to fill out a tax form on winnings that fall in those guidelines.
sorry this was off topic!
