Originally Posted by
misombra 
i hate the irs.
not as much as cops, but almost.
they're taking all my money and spending it on bullshit. i hate the irs.
irs irs go away.
come again no other day.
i'm about to pay 700 dollars in self employment tax for 6 months. that's not including the federal income tax, which will surely be 7 times as much.
does anybody have any money i can borrow to keep these capers away from me?
Invest more $ in registered retirement plan next year, Miso, as much as you can afford. IRAs in the states or whatever. I know its painful to budget for, but if its like here in Canada what happens is that if you put enough in, then you get a *refund* that year instead of paying. Which you can either apply to a high debt, your mortgage if you have one, or you can just reinvest it. Plus you get the benefit of tax sheltered $ (which means the gov isn't getting it) AND you are putting away for your retirement. Something very important if you are self-employed.
Its not hard to calc if you use one of those tax programs, just figure out how much you need to invest to get your tax to zero.
Grk says he's a tax expert. Perhaps he'll be able to suggest something better but that's what we've been advised. Isn't arty an accountant?
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