Note To Self: Pay Taxes On Time

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I'm hiring a CPA this month. I want to do this shit right, with minimal headaches.
 
I knew that they wouldn't issue a levy until 07 came around. The idea is that I can make more money off my 05 unpaid taxes in 06 than the penalties charged during the year.

I was just being lazy not paying them before this January.
 
I thought about doing that....

However thought better about it and just paid state before year end and i won't get hit with penalty for federal if I pay before April 17th.

Not a bad idea though if you think you can do more with that money then penalties charged:)
 
Yeah, I didn't file for 10 years (ever since I started the company), then hired an accountant last year to catch me up... cost $12k to get it all done... luckily I hadn't actually made much money so I only owed taxes for one year...
 
Question: if you didn't file STATE taxes for 2006, do you get penatlized?

I never do pay taxes, I usually get some money in return.

Just forgot to send in my STATE tax in last year tax season.
 
nevermind, I found out that this no tax thing only applies to people paid wages...corporate gains such as affiliate marketing is legally taxable.
 
greenvy said:
Question: if you didn't file STATE taxes for 2006, do you get penatlized?

I never do pay taxes, I usually get some money in return.

Just forgot to send in my STATE tax in last year tax season.
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You better file a return. Your state will charge you interest on any amount owed and a penalty based on how late your return is.

I filed my state taxes 2 months after my extension deadline and got assesed with a $225 penalty. (this is California)
 
That sucks. Although tax in the U.S. is still chumpchange. Try 25% sales tax on top of anywhere from 28% to 50% income tax in my country... :angryfire:

In my case, that means 51% of all revenue goes to the government :(

When I worked at Microsoft in the U.S. I paid 17% income tax, lol
 
Someone said:
You better file a return. Your state will charge you interest on any amount owed and a penalty based on how late your return is.

I filed my state taxes 2 months after my extension deadline and got assesed with a $225 penalty. (this is California)
Click to expand...

But I was suppose to get some money back from my state tax-return but forgot to send in my State taxes...will i still be charge if they own ME money?
 
ImagesAndWords said:
That sucks. Although tax in the U.S. is still chumpchange. Try 25% sales tax on top of anywhere from 28% to 50% income tax in my country... :angryfire:

In my case, that means 51% of all revenue goes to the government :(

When I worked at Microsoft in the U.S. I paid 17% income tax, lol
Click to expand...

Don't forget property tax, gasoline tax, car tax, self-employment social security double tax, various registration/filing fees and probably 10 other different taxes/fees I can't think of right now

and guess what? people elected democrats who want to RAISE taxes even further? Idioticity in action
 
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