Get your IRS payments made today?

[Mike]

Tax guy was running behind on getting my stuff done due to all the nonsense that was created by covid money being sent out, as well as child tax credit confusion.

In the end, we came up with a number for me to pay the IRS this year so I could get the checks out, and we are once again filing an extension while we sort out the details.

The details involve checks that the Government was supposedly sending to us for the child tax credit, rather than filing it at the end of the year like normal. We got a letter telling us how much we received, but we didn't receive it. Now it's on us to prove to them that we didn't receive it.

Tax bill was painful, especially since we never pay quarterly taxes, and most likely never will. In anticipation of lowe income for 2022 and 2023, we opted to increase depreciation this year. Hopefully that doesn't come back to bite us in the ass.

Tax day sucks, has to be the most stressful day of the year.

 

[mndriver]

This was my most least stressful tax season in probably 5 years.

 

[Mike]

This would have been one of the simplest years in a while for me, if not for the information regarding covid money being so screwed up. Had all my stuff totaled up and sent in earlier than I have ever gotten it done.

 

[mndriver]

Had those same letters.

Not a big deal.

Let the tax man figure it out since that’s what I was paying him for.

He was cheaper than booze and a counselor since it was my major stressor at the moment.

Thursday the new tires go on the trailer and I’ll have 6-axles of Michelin gold on the truck.

Shit have those jumped in price.

 

[Mike]

Had those same letters.

Not a big deal.

It’s a big deal when the government has sent you a statement saying you got $x,xxx in child tax credits that you typically take care of at the end of the year because it will the the IRS trying to come after me if we simply claim it now like we are supposed to.

I’m going to have to play phone tag now with the IRS to straighten out where the money went before we can file. Otherwise, the IRS will see me as not only getting the checks that were foolishly sent out in the mail this year, but also claiming it now.

 

[Electric Chicken]

Being in Pennsylvania, as a single male with no dependents I got walloped as always between Federal State and Local taxes.

Lucky for me I guess I didn't actually make much. I've paid a lot more than this in as a company driver, they just took it weekly.

It just hurts because I'd rather have used it to help pay the truck off.

My biggest slam was the self employment tax. Can't avoid that.

 

[mndriver]

Half of the self employment tax is what you would have paid as well.

The other half is what your employer would have paid on your behalf…

So it’s nothing really new.

If you depreciated every thing out you could, it would mean your social security would not have any payments into it this year.

You do know what your social security statement says you should receive? Shows you also how much you paid to it annually. (Yes, that’s another whole Brandon topic for another thread).


It still a part of your retirement portfolio.

 

[Uncle Birchy]

Tax guy was running behind on getting my stuff done due to all the nonsense that was created by covid money being sent out, as well as child tax credit confusion.

In the end, we came up with a number for me to pay the IRS this year so I could get the checks out, and we are once again filing an extension while we sort out the details.

The details involve checks that the Government was supposedly sending to us for the child tax credit, rather than filing it at the end of the year like normal. We got a letter telling us how much we received, but we didn't receive it. Now it's on us to prove to them that we didn't receive it.

Tax bill was painful, especially since we never pay quarterly taxes, and most likely never will. In anticipation of lowe income for 2022 and 2023, we opted to increase depreciation this year. Hopefully that doesn't come back to bite us in the ass.

Tax day sucks, has to be the most stressful day of the year.

My taxes are very simple..

I gather up the W-2 forms from the 3/5 different jobs I have in a given year and take them all to H&R Block and they put the Refunds on my H&R Emerald MasterCard with afew weeks.

 

[389 Hood]

Hopefully you turn in W-2's. W-4's are for your initial tax withholding allowances for the employers.

 

[Uncle Birchy]

Hopefully you turn in W-2's. W-4's are for your initial tax withholding allowances for the employers.

The ones that come in the mailbox about end of January

 

[389 Hood]

W-2's.

 

[Electric Chicken]

W-2 many's.

 

[Uncle Birchy]

W-2 many's.

I dunno been here a month now..

My "Third" Job already so far this year but I stayed with that outfit in Minnesota for nearly 2 years so some "longevity" there..

 

[Electric Chicken]

I dunno been here a month now..

My "Third" Job already so far this year but I stayed with that outfit in Minnesota for nearly 2 years so some "longevity" there..

That's okay I've jumped around more with my own trucks than I did as a company driver.

2 companies (USX, Schneider) in 5 years.

----------

2 different trucks (Ford, Mack), 3 different outfits (DDI, myself, XPO) in 1 year.

 

[Electric Chicken]

Yeah but I've already had 3 different jobs in 2022 and it's only April

Okay fine you're worse. You win.

 

[Uncle Birchy]

Okay fine you're worse. You win.

Trucking and Job Hopping go together like Peas & Carrots

 

[389 Hood]

Worked 25 years for Shell and retired, 8 years for Gulf, 2 for myself and 8 years where I am now. I'm just going to stay where I am until I hang up my keys. It's a great company.

 

[Electric Chicken]

Worked 25 years for Shell and retired, 8 years for Gulf, 2 for myself and 8 years where I am now. I'm just going to stay where I am until I hang up my keys. It's a great company.

I'm gonna keep my authority so this company doesn't take me for granted but so far the money is better with no real reason to leave this time.

I'm grossing and netting more on these 5.5 hour paper runs than I was on the big Richmond loops that took 11-12.