ReggieCamp Posted May 13, 2021 Share Posted May 13, 2021 4 minutes ago, MWil23 said: I work in a city without an income tax and live in a Township. It's great! Living in a township in PA means that you have another tax mouth to feed. Quote Link to comment Share on other sites More sharing options...
MWil23 Posted May 13, 2021 Share Posted May 13, 2021 6 minutes ago, ReggieCamp said: Living in a township in PA means that you have another tax mouth to feed. Our country has rebelled for less...that's egregious! Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted May 13, 2021 Share Posted May 13, 2021 5 minutes ago, JDD said: Do you guys own rentals or a business? about 90+% of people are now doing a standard deduction. So doing your taxes should be pretty straight forward. So free turbo tax will cover you. Now if you have a bunch of crazy investments or own property or a business that goes out the window. Oh and I work in a Township and live in a Township, there is a nice little bonus each week. Nerd power Im just really rich with lots of complex investments. Or lazy and certain I’ll goof something up. One of the two. 1 Quote Link to comment Share on other sites More sharing options...
AkronsWitness Posted May 13, 2021 Share Posted May 13, 2021 1 hour ago, JDD said: Do you guys own rentals or a business? about 90+% of people are now doing a standard deduction. So doing your taxes should be pretty straight forward. So free turbo tax will cover you. Now if you have a bunch of crazy investments or own property or a business that goes out the window. Oh and I work in a Township and live in a Township, there is a nice little bonus each week. Nerd power Random question but I own a small business, startup, ecommerce. Havent really made a ton yet but I saw somebody say they bought a new car and it was a tax write off so they got a massive discount. How much business do you need to do and what are the parameters on something like that? Since I own a business, though a small one without much revenue, could I go buy a new family car and use it as the business mobile and save a ton? Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted May 13, 2021 Share Posted May 13, 2021 51 minutes ago, AkronsWitness said: Random question but I own a small business, startup, ecommerce. Havent really made a ton yet but I saw somebody say they bought a new car and it was a tax write off so they got a massive discount. How much business do you need to do and what are the parameters on something like that? Since I own a business, though a small one without much revenue, could I go buy a new family car and use it as the business mobile and save a ton? Lol have fun in jail. 1 Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted May 13, 2021 Share Posted May 13, 2021 Jk, but don’t solicit financial info from randos on this site. Thats my best financial advice. Quote Link to comment Share on other sites More sharing options...
Bucketheadsdad Posted May 13, 2021 Share Posted May 13, 2021 26 minutes ago, AkronsWitness said: Random question but I own a small business, startup, ecommerce. Havent really made a ton yet but I saw somebody say they bought a new car and it was a tax write off so they got a massive discount. How much business do you need to do and what are the parameters on something like that? Since I own a business, though a small one without much revenue, could I go buy a new family car and use it as the business mobile and save a ton? Interesting question.....I'm not sure, but I've made about $100 from my podcast (Woo Hoo). Might be time to turn into an LLC and write off the lease payments for my new van (which I haven't seen since the Monday after Easter, as some drunk was out hunting for eggs at 4:45 a.m., and plowed into it). Supposed to be getting it back tomorrow. It has all of 33 miles on it right now, and this SOB did about 6K worth of damage, and didn't have the decency to stick around to fess up to their mistake. I did find pieces of their car, and was able to figure out what type of car it was that hit me. Nothing from law enforcement though. Haven't been able to find the two sets of tie rods needed to put the front end back together. It has been over 6 weeks, and they finally found one pair in Maine, and the other pair in the Upper Peninsula. They're being installed today, so I should have my van (which I quite frankly can't remember what it even looks like) back tomorrow. 1 Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted May 13, 2021 Share Posted May 13, 2021 7 minutes ago, Bucketheadsdad said: Interesting question.....I'm not sure, but I've made about $100 from my podcast (Woo Hoo). Might be time to turn into an LLC and write off the lease payments for my new van (which I haven't seen since the Monday after Easter, as some drunk was out hunting for eggs at 4:45 a.m., and plowed into it). Supposed to be getting it back tomorrow. It has all of 33 miles on it right now, and this SOB did about 6K worth of damage, and didn't have the decency to stick around to fess up to their mistake. I did find pieces of their car, and was able to figure out what type of car it was that hit me. Nothing from law enforcement though. Haven't been able to find the two sets of tie rods needed to put the front end back together. It has been over 6 weeks, and they finally found one pair in Maine, and the other pair in the Upper Peninsula. They're being installed today, so I should have my van (which I quite frankly can't remember what it even looks like) back tomorrow. Oof bubba, that sucks. Hope that guy gets a bad case crabs or something. Quote Link to comment Share on other sites More sharing options...
ReggieCamp Posted May 13, 2021 Share Posted May 13, 2021 12 minutes ago, Bucketheadsdad said: Interesting question.....I'm not sure, but I've made about $100 from my podcast (Woo Hoo). Might be time to turn into an LLC and write off the lease payments for my new van (which I haven't seen since the Monday after Easter, as some drunk was out hunting for eggs at 4:45 a.m., and plowed into it). Supposed to be getting it back tomorrow. It has all of 33 miles on it right now, and this SOB did about 6K worth of damage, and didn't have the decency to stick around to fess up to their mistake. I did find pieces of their car, and was able to figure out what type of car it was that hit me. Nothing from law enforcement though. Haven't been able to find the two sets of tie rods needed to put the front end back together. It has been over 6 weeks, and they finally found one pair in Maine, and the other pair in the Upper Peninsula. They're being installed today, so I should have my van (which I quite frankly can't remember what it even looks like) back tomorrow. I liked your post because it made me laugh. If you were trying to make me laugh, then receive my laughter and smile. If not, then sorry for laughing at your misfortune. 1 Quote Link to comment Share on other sites More sharing options...
Bucketheadsdad Posted May 13, 2021 Share Posted May 13, 2021 1 minute ago, ReggieCamp said: I liked your post because it made me laugh. If you were trying to make me laugh, then receive my laughter and smile. If not, then sorry for laughing at your misfortune. Oh, it is all about laughing now. In fact, I texted the body shop (people I know well, as I've had all of their kids as students over the years), and asked if I could just swing by the shop for a visit, as I'd forgotten what the damn thing looked like. Interestingly enough, when it came time to repaint the van, the color code on the vin plate didn't match the color of the van. They called me and asked me the color, and I said it had been so long since I'd seen it that I didn't even remember the color. They finally figured out the color. Crazy thing is that I ended up turning in my previous lease early (2018 Ford Fusion), because it got coolant in the head gasket (no clue how it happened), and they had to replace the engine of a car with 28,500 miles. Turned the damn thing in three months early so I could drive a new van 33 miles. Quote Link to comment Share on other sites More sharing options...
JDD Posted May 14, 2021 Share Posted May 14, 2021 5 hours ago, AkronsWitness said: Random question but I own a small business, startup, ecommerce. Havent really made a ton yet but I saw somebody say they bought a new car and it was a tax write off so they got a massive discount. How much business do you need to do and what are the parameters on something like that? Since I own a business, though a small one without much revenue, could I go buy a new family car and use it as the business mobile and save a ton? 4 hours ago, LETSGOBROWNIES said: Jk, but don’t solicit financial info from randos on this site. Thats my best financial advice. I’m an engineer so take that for what it’s worth. Honestly I doubt you can write a car off for your business unless it’s used for said business. As in, if you were using it to conduct your work like a delivery service. Now if your business can grow large enough to write off things like vehicles but you need to be making a good amount of money. Doesn’t sound like you are there yet though. Hopefully one day. Quote Link to comment Share on other sites More sharing options...
JDD Posted May 14, 2021 Share Posted May 14, 2021 6 hours ago, ReggieCamp said: I've owned my business for 17 years. I feel very comfortable with accounting, and I'm very organized. And there ain't no way in hell I'm ever doing my own taxes ever again. CPA all the way. Business taxes are a beyotch, especially in PA. Hence why I was wondering. If you own a business or rental property or have a bunch of different investments I understand why you go to a CPA or someone else does them. If you are a W2 worker it’s pretty easy now a days since the standard deduction is all most people do 1 Quote Link to comment Share on other sites More sharing options...
ditchdigger Posted May 14, 2021 Share Posted May 14, 2021 19 hours ago, Bucketheadsdad said: Crazy thing is that I ended up turning in my previous lease early (2018 Ford Fusion), because it got coolant in the head gasket (no clue how it happened), and they had to replace the engine of a car with 28,500 miles. It was designed and manufactured by the Ford Motor Company, that's how. Quote Link to comment Share on other sites More sharing options...
Bucketheadsdad Posted May 14, 2021 Share Posted May 14, 2021 7 minutes ago, ditchdigger said: It was designed and manufactured by the Ford Motor Company, that's how. Well, as someone who had a grandfather, father, cousin, uncle, and brother-in-law work almost a combined 160 years for Ford, I suppose I should be offended by that. 😂🤣😂 Quote Link to comment Share on other sites More sharing options...
NateDawg Posted May 14, 2021 Share Posted May 14, 2021 I don’t mind paying the $100 to take my docs to a tax guy every year. That way I know I’m not screwing something up and also it sounds good to hear someone tell me that my continuing to have kids keeps paying off. 1 Quote Link to comment Share on other sites More sharing options...
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