ktgrok Posted April 15, 2017 Author Share Posted April 15, 2017 :grouphug: How'd it go with telling DH? Not well. He's now in a funk and angry at the world and sad and beaten down. Not a great start to Easter. Quote Link to comment Share on other sites More sharing options...
maize Posted April 15, 2017 Share Posted April 15, 2017 I'm sorry Katie :( Quote Link to comment Share on other sites More sharing options...
Wheres Toto Posted April 15, 2017 Share Posted April 15, 2017 :grouphug: You have my sympathy. We'll be still making payments to the IRS for the next few years to pay what we owe from dh's time self-employed. Quote Link to comment Share on other sites More sharing options...
StephanieZ Posted April 15, 2017 Share Posted April 15, 2017 ideas for business expenses . . . meals out -- discussing your business (50% deduction for meals & entertainment) internet service mileage whenever you are driving anywhere remotely related to business (keep a log!! Must have odometer readings.) travel expenses for conferences/etc (hotels, meals, flights, etc.) dues for membership for whatever writing related organizations you belong to your cell phone and cell bill (yes, the whole thing, IMHO) filing cabinets/shelves/desk chair/desk/etc marketing expenses (do you go to any events for marketing purposes? To get your name out there?) Note that any purchases under $500 can generally be deducted right away as a "de minimus" expense, so you don't have to spread it out over time, even if it's something durable that'll last a long time. (Essentially, the government agrees that it's not worth the hassle of tracking a $100 set of shelves for decades.) I highly advise you to google up some good ideas or maybe buy a book (deduct it!) . . . I'm sure others are more creative than I am. I tend to be pretty cautious about not breaking the rules, but there are tons of rules you can follow that can help you. You just need to do a little leg work to learn the rules. 2 Quote Link to comment Share on other sites More sharing options...
Pippen Posted April 15, 2017 Share Posted April 15, 2017 I'm sorry. We had this happen to us one year so I can empathize. My husband adjusted withholdings to zero mid-year because too much was coming out and forgot to adjust it upwards for the new year. It wasn't 6K, but it was really painful. Quote Link to comment Share on other sites More sharing options...
idnib Posted April 15, 2017 Share Posted April 15, 2017 Not well. He's now in a funk and angry at the world and sad and beaten down. Not a great start to Easter. I'm sorry. He shouldn't beat himself up. Even in this thread there are so many people who've made this mistake. :grouphug: :grouphug: :grouphug: Quote Link to comment Share on other sites More sharing options...
Miss Tick Posted April 15, 2017 Share Posted April 15, 2017 (edited) I think quarterly taxes are due on April 18, so not quite past us yet. I'm sure you all are right. We didn't know we had earned the privilege (tongue-in-cheek) of quarterly payments until we got the letter from the IRS, which was after the deadline. We were young, naive, and this was way before my obsessive forum reading which tends to put me a bit ahead of the game now on all sorts of issues. I hope things worked out for you, KTGROK! Edited April 15, 2017 by SusanC Quote Link to comment Share on other sites More sharing options...
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