taxes

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ubaidabcd

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I made a thread about taxes some time ago and tried to search and reply in the same thread but it's been locked, don't know the reason there wasn't any content in their as a reason to lock a thread.

Anyway I was advised to find an accountant/cpa, I've created several threads on Craigslist, and nobody is responding. I had a few replies initially, when I made my first post, but some of them were charging to high, some of them charging hourly (since I'm new to this I want a fixed rate and not get ripped off, after I know how much is work is required then I could go with hourly). Then a couple people that had reasonable prices stopped replying.

Should I just go to a firm? I'm probably going to get ripped off, but I'm not sure what else to do. This is my first time in this situation, I've never had to get somebody to file my taxes or self-employment taxes.

Another question regarding taxes:

If you invest your money into an IRA or something similiar (I don't know much about this stuff either), will I still have to pay taxes on those earnings? Or will I only have to pay taxes when I withdraw the money from the IRA? Since I'm not spending this money all at once I don't want to pay all the taxes upfront. I want to try to put the money in some kind of investment account so that I don't have to pay taxes on all my earnings.

I'm surprised on this board and other affiliate marketing boards there aren't more people starting discussions or have questions about taxes. I mean the affiliate networks have you complete a W9 so your earnings are going to be reported to the IRS, it's not like it's "under the table". I suppose everybody is just ignoring it? I don't see how they think they can get away with that, but who knows maybe it's since I'm just a square and some people are going through loopholes? Personally I would avoid getting into any legal trouble at all costs and rather work harder to make more money to cover my taxes.
 


ubaidabcd said:
Another question regarding taxes:

If you invest your money into an IRA or something similiar (I don't know much about this stuff either), will I still have to pay taxes on those earnings? Or will I only have to pay taxes when I withdraw the money from the IRA?
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you can do it eather way; its 2 different kinds, a regular IRA and a ROTH IRA look it up
 
Alot of people just plain don't pay taxes.

I advise you pay them, and don't mess up. I got hit with a $185,000 dollar tax bill in 2003 that im STILL making payments on. Audits suck :(
 
BigWill said:
Alot of people just plain don't pay taxes.

I advise you pay them, and don't mess up. I got hit with a $185,000 dollar tax bill in 2003 that im STILL making payments on. Audits suck :(
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Yeah that's what I thought I can tell how many people respond to these threads. I don't want to pay either but I don't need any extra stress. I suppose it would be different if you were being paid under the table or making cash without any paper work involved such as waiters, and people who make tips. I just can't see how you could get away with this if you have to file paper work such as a W9 which is going to go directly to the IRS.

I guess it also depends on how much you make some people figure that they don't make enough for the IRS to waste their time on them, I don't make that much either, but like I said I have enough to worry about.
 
This is the first year I have to file as a self-employed person too. I'm just going to print everything out (earnings, paypal statement, etc), find a decent accountant who charges a flat rate (like you mentioned above), and go from there.

Whatever you do, don't just avoid the issue. It might be years down the road, but in the end, the IRS will find out, and they will slap you with huge fines.

Even if you owe more than you can pay, the IRS will set up a payment plan with you. They are flexible with that sort of thing. They don't care how they get the money, as long as they get the money.
 
ubaidabcd said:
I made a thread about taxes some time ago and tried to search and reply in the same thread but it's been locked, don't know the reason there wasn't any content in their as a reason to lock a thread.

Anyway I was advised to find an accountant/cpa, I've created several threads on Craigslist, and nobody is responding. I had a few replies initially, when I made my first post, but some of them were charging to high, some of them charging hourly (since I'm new to this I want a fixed rate and not get ripped off, after I know how much is work is required then I could go with hourly). Then a couple people that had reasonable prices stopped replying.

Should I just go to a firm? I'm probably going to get ripped off, but I'm not sure what else to do. This is my first time in this situation, I've never had to get somebody to file my taxes or self-employment taxes.

Another question regarding taxes:

If you invest your money into an IRA or something similiar (I don't know much about this stuff either), will I still have to pay taxes on those earnings? Or will I only have to pay taxes when I withdraw the money from the IRA? Since I'm not spending this money all at once I don't want to pay all the taxes upfront. I want to try to put the money in some kind of investment account so that I don't have to pay taxes on all my earnings.

I'm surprised on this board and other affiliate marketing boards there aren't more people starting discussions or have questions about taxes. I mean the affiliate networks have you complete a W9 so your earnings are going to be reported to the IRS, it's not like it's "under the table". I suppose everybody is just ignoring it? I don't see how they think they can get away with that, but who knows maybe it's since I'm just a square and some people are going through loopholes? Personally I would avoid getting into any legal trouble at all costs and rather work harder to make more money to cover my taxes.
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Yellow pages, recommendations from friend, wherever you find one, but use a CPA.

Treat it like a business - deduct everything you can, but do everything legit and stay within the rules on this..
 
No, I'm definately not going to avoid the issue.

The problem I'm having is finding an accountant that will charge a reasonable rate, that's my original reason for creating this thread. I've gone to Craigslist but like I said nobody is responding to me. Since I don't know any accountants or CPA's, looks like I'll have to go to a firm where they'll charge me all kinds of fees. So, I'm trying to find out where else I can go.

I don't want to wait until tax season I'd rather pay my taxes quarterly so that I don't have a huge sum to pay at the end of the year, just having trouble finding an accountant.
 
I'm not sure what a good rate is either. I suppose nobody would know if $150 a quarter is too much? One person quoted me $400 for an end of the year, so $150 doesn't sound that bad.
 
to avoid audits always file for an extension. they will be too busy from all the folks that they picked out from the on time crowd to bother with you.
 
I just do my own taxes. I find it is a lot less complicated for most people than they might think. I do 4-5 different Schedule Cs, actually.

One of the problems with the tax code is that it is so bloated that even the "pros" really don't know the whole thing- because it's impossible. How many pages is it? millions? On the other hand for 99% of people it really isn't THAT complicated. So you kinda have the darned if you do draned if you dont when it comes to doing it yourself or paying someone.

I personally have made money since I was 14 doing other people's taxes. I have also done my own since then. Ah, I miss the old 1040EZ that literally took 3 minutes. So many people are so intimidated by it. They either actually think some guy at HR Block who makes close to minimum wage is more qualified OR that some high priced accountant is wort paying for the expertise of 2nd grade math and/or plugging numbers into a calculator/software.

now there certainly ARE people who probably should use Pros, and among us self-employed/entrepreneurs it's certainly higher than the general wage earner popluation ( 99.99% of whom should be able to do their own taxes, unless they are illiterate and lack basic math or the ability to push buttons). IMHO it depends on how complicated your business structures and stuff like that.

If you are a Sole Proprietor and dont do a lot of complicated tax planning, you can pretty much use any software and fillout your schedules. You have earnings, and you have expenses. You have SE tax on the profits upto the limits, then you pay income taxes on whatever income is left after deductions,etc. Not too complicated.

As i posted before though, if you make a profit for the year, you are probably expected to file estimated taxes and make payments throughout the year. For this, yeah, an accountant might be the way to go.
 
oziman said:
Yellow pages, recommendations from friend, wherever you find one, but use a CPA.

Treat it like a business - deduct everything you can, but do everything legit and stay within the rules on this..
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This is the best advice. A referral from someone you know and trust is the best way to go. You could even ask around at your local small businesses.
 
What's the difference between from a CPA and an Accountant?

Also I don't have any referalls, don't know anybody that needs an account or CPA.

At anybody telling me to not avoid this and let it go, trust me I'm not. I wouldn't have made this thread if I was. I can't speak for everybody else on here though.

Funny, as a topic as important as this, where are all the regular "big players" we know on here at? Wonder what they're up to.....hmmmm....

I'm just going to try and invest everything I don't need at this time into an IRA so I don't get taxed for it all at once. It doesn't get any easier than that I think. You only pay taxes on what you spend when you need it, not your entire net worth.

I think if I was making so much, I'd probably move to another country where I wouldn't get taxed crazy.
 
I use my dad's accountant, and he only charges a few hundred bucks... I don't see why you won't be able to easily find someone reasonable.

CPA is Certified Public Accountant
Accountant is someone who does Accounting (not certified)

Edit: Fuck, I forgot to warn you- DO NOT AVOID THIS! The IRS will catch up with you down the road. Those crazy bastards!
 
Jondoe0069 said:
I use my dad's accountant, and he only charges a few hundred bucks... I don't see why you won't be able to easily find someone reasonable.

CPA is Certified Public Accountant
Accountant is someone who does Accounting (not certified)

Edit: Fuck, I forgot to warn you- DO NOT AVOID THIS! The IRS will catch up with you down the road. Those crazy bastards!
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He charges you a few hundred for what? Is this per quarter? Yearly? All combined total? If so, is he looking for another customer?
 
Are there really that many people here that are "ridin dirty?"

No wonder I have all these pot holes in my city, you fuckers need to pay up!!
 
I'm worried about this situation now, but I'm sure this is gonna get big eventually. I remember some news way back when about the IRS cracking down on "waiters/waitresses" on tips. lol think about how they're going to react when they find about what some aff marketers are making online. I'm sure some people are getting away with it as easily as working in some corner bodega.
 
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