Have you done your 2009 taxes yet?

efeezy

efeezy

Well-known member
Oct 5, 2007
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Met with my guy yesterday..unfortunately. At first estimates, looks like I'll be sending the feds a nice check for around $20K...Sounds like converting my LLC into an S-Corp will be in the near future. I'm a paranoid asshole about not saving enough for taxes, so luckily I've got it covered.

For you guys and gals who are just starting to make decent money with this shit...do yourself a huge favor and set aside at least 1/3 of your monthly earnings for taxes. There's nothing like having to write a huge check to the man and realizing you didn't save a dime for it.

Have you done your taxes yet...how bad was the damage? Gotta love nothing but 1099 income.

(sorry for the e books icon...just a mis-click...no ebooks here)
 


subigo said:
Is it April 14th yet? Then nope, haven't done them.
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You're one of those guys just barely getting the return postmarked at the last minute of the 14th......I did that shit for years.
 
Got mine done already, paying about the same as the OP. I had a CPA for the first couple years i was in IM, i've recently switched to turbo tax. It was such a breeze, even with my relatively complex taxes.
 
I thought I had a good accountant.

Until this year I was told there was $15,000 in taxes I missed in 2007, which I had to pay and then pay an additional $1,000+ in interest. I paid my accountant over $5k last year to do my taxes for both my companies, what a rip.

So yeah, haven't gotten around to finding a new accountant yet.
 
b_sun said:
No, and damn you for asking which in turn made me think about the ugly 5k lb gorilla sitting on my desk.
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Yeah..I was dreading it for the past 2 months. Even though I'm writing a big ass check...I'm just relieved that it's done. CPA's are worse than the dentist. Where else can you go spend an hour and walk out having to write a check for 5 figures.

Good news is that my CPA needs a website built for his company and he wants to do some local PPC marketing...so I might just be able to do a barter deal with him for this years fees.
 
SUP3RNOVA said:
I thought I had a good accountant.

Until this year I was told there was $15,000 in taxes I missed in 2007, which I had to pay and then pay an additional $1,000+ in interest. I paid my accountant over $5k last year to do my taxes for both my companies, what a rip.

So yeah, haven't gotten around to finding a new accountant yet.
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can't you take some legal action against the accountant
 
I was just going to wait for the 1099's, but I think ill just write down all my numbers and go to the accountant in the next two weeks. And you really don't have to wait until April 14th or 15th or whatever to send them in. They just put a date out there to make sure people send them in. You won't get fined if you send them in later ;p
 
ItsYoBuddy said:
I was just going to wait for the 1099's, but I think ill just write down all my numbers and go to the accountant in the next two weeks. And you really don't have to wait until April 14th or 15th or whatever to send them in. They just put a date out there to make sure people send them in. You won't get fined if you send them in later ;p
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I thought companies were obligated by law to send out 1099's by Jan 31st. If you haven't got them by now, you might not be getting them at all.
 
Yeah, I just went yesterday; I'm an employee, so I'm used to getting money back, but because my income had grown a crap-ton between 2008 and 2009, I owe the gubment $1500.

Sounds like small beans, compared to you guys, but as a salary whore, that's a significant chunk of change to be down. I'm mostly just glad I found out so early -- H&R called me for an upsell, because I'd used them last year, and if I hadn't begrudgingly shrugged and went in, I wouldn't find out until April that I'm out the money.
 
Good Accountants are so hard to find, everytime,they ask a million questions on what I do to make this money, and they waste so much time. If someone has a good chicago accountant let me know.
 
March 1 is the day for me.

This year I'm doing it myself. As my own business grows, I need to tinker around and learn where my tax savings can really be. It will take me seriously 40 hours, but I want to learn.

Last couple years I've owed 2500. Hoping I can funnel a lot of losses into my business :)
 
efeezy said:
Met with my guy yesterday..unfortunately. At first estimates, looks like I'll be sending the feds a nice check for around $20K...Sounds like converting my LLC into an S-Corp will be in the near future. I'm a paranoid asshole about not saving enough for taxes, so luckily I've got it covered.

For you guys and gals who are just starting to make decent money with this shit...do yourself a huge favor and set aside at least 1/3 of your monthly earnings for taxes. There's nothing like having to write a huge check to the man and realizing you didn't save a dime for it.

Have you done your taxes yet...how bad was the damage? Gotta love nothing but 1099 income.

(sorry for the e books icon...just a mis-click...no ebooks here)
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Mine was finished (and paid) 2 weeks ago.

(and you are supposed to pay quarterly... so I would hope you save 1/3 profit a month....)
 
For those who owe, ask your accountants about SEP's and your options there... great way to preserve some of your funds and save for the future at the same time.
 
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