Taxes - Ford Powerstroke Diesel Forum
Keystone Coal Rollers Pennsylvania Chapter Area

Reply
 
LinkBack Thread Tools Display Modes
post #1 of 17 Old 04-02-2009, 04:51 AM Thread Starter
Compression Ignition Addict
 
Join Date: Jan 2009
Location: Coatesville,PA
Posts: 184
Thanks: 0
Thanked 0 Times in 0 Posts
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
Feedback Score: 0 reviews
Taxes

Did everybody fare okay on their tax returns this year? This was our first tax return with owning the business and we didnt know HOW much we would owe So we got the packet in the mail yesterday from the accountant and I think it was about half what my wife and I thought it could of been that we owed the IRS. This is our first year we didnt get a refund, but being self employed for the first time over 2008 is nice.
SilverDcab is offline  
post #2 of 17 Old 04-10-2009, 10:28 AM
Banned
 
Join Date: Dec 2008
Posts: 2,850
Thanks: 0
Thanked 2 Times in 2 Posts
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
Feedback Score: 0 reviews
Im supposed to get 1100 back
03-blue-Powerstroke is offline  
post #3 of 17 Old 04-10-2009, 12:31 PM Thread Starter
Compression Ignition Addict
 
Join Date: Jan 2009
Location: Coatesville,PA
Posts: 184
Thanks: 0
Thanked 0 Times in 0 Posts
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
Feedback Score: 0 reviews
Sweet

GREG
2008 F350 4X4,6.4,CC,LB
LINE-X
FRONT TINTED WINDOWS
Access Vanish Bed Cover
SilverDcab is offline  
post #4 of 17 Old 04-10-2009, 10:22 PM
Member
 
06strokerIsh's Avatar
 
Join Date: Dec 2008
Posts: 80
Thanks: 0
Thanked 0 Times in 0 Posts
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
Feedback Score: 0 reviews
To tell you the truth my return went down quite a bit since last year, not sure why though.

Ian

Support Coal and Mining Industries
India Foxtrot Yankee Oscar Uniform Charlie Alpha November Uniform November Delta Echo Romeo Sierra Tango Alpha November Delta Tango Hotel India Sierra, Charlie Oscar Papa Yankee Alpha November Delta Papa Alpha Sierra Tango Echo .Tango Oscar Yankee Oscar Uniform Romeo Sierra India Golf November Alpha Tango Uniform Romeo Echo.
06strokerIsh is offline  
post #5 of 17 Old 04-11-2009, 11:24 AM Thread Starter
Compression Ignition Addict
 
Join Date: Jan 2009
Location: Coatesville,PA
Posts: 184
Thanks: 0
Thanked 0 Times in 0 Posts
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
Feedback Score: 0 reviews
Yeah that has happened to us before and we werent sure why either. We were using a family member who is a accountant. His employer who he was at for a long time played a dirty trick on him. They wanted him to sign a contract for 3 years saying if he ever left he would not be able to be a public accountant in the area for 3 years. This would mean he would of had to up and move his family to a different area for work. He wouldnt sign it so they told him they were making changes and let him go. Pretty crappy!!

So we found a accountant my Brother-in-law(attorney) uses and we use him now. However he is triple in price what the other guy was charging us, but he is good. Oh well!

GREG
2008 F350 4X4,6.4,CC,LB
LINE-X
FRONT TINTED WINDOWS
Access Vanish Bed Cover
SilverDcab is offline  
post #6 of 17 Old 04-13-2009, 09:54 AM
Interior Guru
 
weareweird69's Avatar
 
Join Date: Nov 2007
Location: Blairsville, PA
Posts: 14,531
Thanks: 6
Thanked 18 Times in 18 Posts
Mentioned: 2 Post(s)
Quoted: 85 Post(s)
Feedback Score: 3 reviews
I am gettin 5,600 back from the IRS, and 500 from the state, and owe 420 to the Local

But, Sadly it'll be used to pay bills, and some for savings No truck mods this spring.

-Garrett


Too many projects. Too little time...
weareweird69 is offline  
post #7 of 17 Old 04-13-2009, 10:10 AM Thread Starter
Compression Ignition Addict
 
Join Date: Jan 2009
Location: Coatesville,PA
Posts: 184
Thanks: 0
Thanked 0 Times in 0 Posts
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
Feedback Score: 0 reviews
Yeah when we got refunds back, ours went towards paying bills as well to. Sometimes we would use half or so towards vacation for that year. Your getting back as much as I have to owe

GREG
2008 F350 4X4,6.4,CC,LB
LINE-X
FRONT TINTED WINDOWS
Access Vanish Bed Cover
SilverDcab is offline  
post #8 of 17 Old 04-13-2009, 10:14 AM
Member
 
umfhockey66's Avatar
 
Join Date: Feb 2009
Location: Maryville, TN
Posts: 78
Thanks: 0
Thanked 0 Times in 0 Posts
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
Feedback Score: 0 reviews
My refund was $2600 last year, this year my income increased by $140, which took me from the 7% to the 10% tax bracket, my refund was $1100 this year, I'm pretty fired up that I can contribute another $1500 to the general fund, I'm sure the government will spend it wisely.


2005 F250 4X4 CC LB
4" Magnaflow exhaust
6" Tuff Country Lift
295/70/18 Nitto Terra Grapplers
Zoodad Mod
Idle Mod
Fog Light Mod
Rear Bags
Scraped bumper on a tree Mod
umfhockey66 is offline  
post #9 of 17 Old 04-13-2009, 10:15 AM
PMR = JUNK

 
Jake's Avatar
 
Join Date: Nov 2007
Location: NW, Ohio
Posts: 11,234
Thanks: 2
Thanked 0 Times in 0 Posts
Mentioned: 0 Post(s)
Quoted: 4 Post(s)
Feedback Score: 2 reviews
Send a message via AIM to Jake Send a message via Yahoo to Jake
The way our business is set up, it shows that i didn't make enough to pay taxes. All i have to pay is about 300 or 600 to socialist insecurity. Which pisses me off. I wish i could opt out of it, i don't want the gov taking care of my retirement for me. I can do it myself. Much better too. Ill never get back what i pay into it.

BPS President

2000 F-250, forged rods, 38r turbo, BTS trans, hutch mod, TW tuning and Bad Night Special 50 horse Caterpillar injectors



Quote:
Originally Posted by alberta 7.3 View Post
Yeah, I'd probably feel a bit drained after firing twice in rapid succession.
Jake is offline  
post #10 of 17 Old 04-13-2009, 10:17 AM
My 6OH Hates Me


 
mudrunninpig's Avatar
 
Join Date: Sep 2007
Location: Nexus of the Universe
Posts: 24,842
Thanks: 8
Thanked 27 Times in 26 Posts
Mentioned: 1 Post(s)
Quoted: 19 Post(s)
Feedback Score: 1 reviews
I owed 600 to the state and 8k to the gov.

Mike




"The Iron Pig"



mudrunninpig is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Ford Powerstroke Diesel Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome