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Thread: A first!

  1. 07-14-2020, 02:08 PM #1
    Dave Grubb's Avatar
    Dave Grubb
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    A first!

    I just got back from my accountant's---I do not owe any 2019 taxes, Federal, State or Local To the best of my recollection that has never happened in the last 40+ years. I might think trump had something to do with it but that would not impact the State and Local taxes.

    The only thing I can imagine---and I haven't had time to go through them yet, is that I took a lump sum buy out of a pension last year and rolled that into a non-taxable account. That ended a sizable monthly payout which was treated as taxable income.
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis
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  2. 07-14-2020, 05:52 PM #2
    FredK
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    If you feel the need to send money, I'll take some.

    Congrats Dave.
    Fred

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  3. 07-14-2020, 06:19 PM #3
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    Don’t let Sino-Joe know because he has plans for it.
    ...............
    “You can vote your way into socialism, but you have to shoot your way out.” — Too fundamental to have an attribution

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  4. 07-14-2020, 06:42 PM #4
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    I Paid $117.00 to Fed and got a $22.00 return from State...... worked out well.
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  5. 07-15-2020, 06:23 AM #5
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    Quote Originally Posted by wacojoe View Post
    Don’t let Sino-Joe know because he has plans for it.
    Maybe I need to clarify my statement----I didn't have to send MORE---I had already sent a lot.

    And yes...if Biden is elected I would expect to be invited to send more---it might be worth it to unload trump.
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis
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  6. 07-15-2020, 10:34 AM #6
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    If Biden, say goodbye to your natural gas income of the wells on your land because he has vowed to end that evil practice with the assistance of his new Secretary of energy, Alexandria Ocasio-Cortez.
    ...............
    “You can vote your way into socialism, but you have to shoot your way out.” — Too fundamental to have an attribution

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  7. 07-15-2020, 10:44 AM #7
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    Quote Originally Posted by wacojoe View Post
    If Biden, say goodbye to your natural gas income of the wells on your land because he has vowed to end that evil practice with the assistance of his new Secretary of energy, Alexandria Ocasio-Cortez.
    I have sad news Joe----there ain't no income to say good-bye to---the market (or more correctly the lack of a market) already took care of that. The wells at the cottage aren't even producing, I'm not sure about the other ones---but the mail box hasn't been filling up with royalty checks---it is what it is---at least they aren't like cows---I don't have to feed them
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis
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  8. 07-15-2020, 03:14 PM #8
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    Yeah, too bad..the enviro-chondriacs killed the proposed pipelines in the East. Biden gave a big thumbs up.
    ...............
    “You can vote your way into socialism, but you have to shoot your way out.” — Too fundamental to have an attribution

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  9. 07-15-2020, 03:45 PM #9
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    Quote Originally Posted by wacojoe View Post
    Yeah, too bad..the enviro-chondriacs killed the proposed pipelines in the East. Biden gave a big thumbs up.
    I have a confessions of sorts----I almost made a serious error!

    I'm not near as smug now as I was this time yesterday.

    About 3:30 I decided to wrap up the work day and compare 2018 taxes to 2019----and that is when the problem started. The young lady that gave me the tax documents yesterday (I did not see my accountant) told me the good news about no taxes being due---a thought I was more than willing to rejoice in.

    So--when I began my review I was soon to be presented with the fact that her version of zero taxes due applied only to 2019 taxes---and I had a whooper due for first (and second) quarter taxes for 2020---even with the carry over from 2019 it was nasty. My wife is now making a run to town to get to the PO before 5---she should make it without a problem.

    Sure puts a different face on the day for me



    Those pipelines had little chance once it got into the courts---they will end up trucking LNG instead---like that is environmentally sound
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis
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