60+ year old thread.

Going to the Taxman for me is like going to the casino.I may get back 4000 or owe 4000.Ill find out soon this year.

 

Yeah, a trip to the casino comparison sounds right to me; it’s been a losing trip every time I went.

 

In the market for a replacement set myself.

Good morning. Already received both federal and state refunds. Both were quite nice. Our last governor has legislation passed for a Senior tax credit with ties to the financial performance of the state. I am praying that no politician wants to be the one to send the state into the red. Marketing people advertise to the young but politicians know us seniors are the ones with money and will do anything to take it from us.

 

Morning kids, a word for the wise grasshopper. One must never Fu&$ with SSA, our prison sentence is much shorter than most. Three hots and a cot can be very appealing.

 

Good morning all.

 

Dog

 

What?

 

am I bored ? or just boring ?

 

3:03AM wake up!! Hahahaha looks a bit like Juno!!

 

Morning all:

That's my problem, income is all over the map year to year, so trying to figure out quarterly tax payments drives me !
The worse was when a decent capital gain came late in the year, and then even though I covered it in the next quarterly payment, I would pay a penalty because I didn't have a certain % of it paid in on prior quarterlies !
I think they did away with that policy, there is no way that people could anticipate a late in the year windfall capital gain and then end up having to pay a penalty for it.

 

Good Morning everyone

 

Yep,the capital gains are my first world problem.

 

Good morning!

 

Speaking of capital gains, my accountant said be prepared for a tax bill next year of at least $200k.
I bought 2 small boarded up buildings 15 years ago for $65k, then renovated & rented them out.
Real estate prices have skyrocketed since. Just sold the property, hence the tax hit.

Where was the tax man when I needed help loading the dumpster?

 

LOL... Chicken without skin is like finding a beautiful barn find Camaro with a six cylinder in it.

 

Two positives here, you made a boat load of $$ on a $65000 investment. And congress is considering a cap gains tax reduction so your cap tax may be far less.
Wish I would have hung on the first house I ever bought back in the 70’s. Paid $36,000, it sold 2 years ago for $1.3 million.