I understand. Just wish there was a legitimate way to simplify

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Apr 10, 2024
5:54:35pm

homegrown All-American

I understand. Just wish there was a legitimate way to simplify

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homegrown

Previous username: pac12stickerhater
Bio page: homegrown
Joined: Sep 6, 2016
Last login: Jun 1, 2024
Total posts: 3,909 (3 FO)

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Messages

Author

Time

Finally done with taxes. I'm an owner in an LLC. Can't believe all the different

homegrown

Apr 10, 2:32pm

Government can't do anything right. Why should that be different with taxes?

Jericho

Apr 10, 2:33pm

I was destroyed by taxes this year. I definitely need a strategy for next year.

kccougar

Apr 10, 2:34pm

Overpay your estimated taxes every quarter

mobicurious

Apr 10, 2:48pm

yep. Had to produce an extra 30k one year that was already spent. Tough

qwerew

Apr 10, 3:12pm

Flip it. Send me my tax bill and let me file if something is wrong. Let me

vagabonder

Apr 10, 2:34pm

Had the exact same experience and have just been sitting here asking myself the

gww687

Apr 10, 2:39pm

I elected as an S-Corp, but they only approved starting 9/1/2023, so I had to

Skeptical Optimist

Apr 10, 2:52pm

BTW, make sure you are hiring your kids for your LLC - that's tax free money

Skeptical Optimist

Apr 10, 2:54pm

Don't you have to pay employment taxes for your kids (or pay SE taxes on a 1099)? Maybe 15% is better than 25% on the

Apr 10, 3:23pm

Not if you have an LLC or a sole proprietorship. You can pay them a reasonable

Skeptical Optimist

Apr 10, 3:39pm

If you simplify the tax code then you just make it easier to avoid taxes. The only real way to fix it is to get rid of

HarlemCoug

Apr 10, 3:05pm

No. The correct solution is a consumption tax. It's easily progressive as well.

BlueTooth

Apr 10, 3:16pm

what's your definition of a vat tax?

HarlemCoug

Apr 10, 4:26pm

I don't have one. Not familiar with it. Quick and dirty look makes it seem like

BlueTooth

Apr 12, 4:03pm

Why does it make it easier? If you just had a flat rate tax on all realized

homegrown

Apr 10, 3:30pm

The problem is "What is realized income?"

Narfin'Coug

Apr 10, 4:15pm

I understand. Just wish there was a legitimate way to simplify

homegrown

Apr 10, 5:54pm

Reminds me of this joke. Yes, you can poke holes in what he says

BYUHawk

Apr 10, 3:29pm

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