my taxes are giving me the blues.....

Discussion in 'Business Operations' started by joel29m, Jan 30, 2010.

  1. joel29m

    joel29m LawnSite Senior Member
    Posts: 646

    i keyed in all my info and it tells me that i owe 1800.00 dollars in federal? this is my first year and i claimed all my assets and receipts but i dont understand why do i owe so much?
     
  2. N.TX

    N.TX LawnSite Senior Member
    from TEXAS
    Posts: 473

    Haha not to put a damper on your problems but I wish I owed that little.
     
  3. Vogel-Landscaping

    Vogel-Landscaping LawnSite Member
    Posts: 214

    yea we pay towards federal and state taxes every month or else come end of the year im in trouble lol.
     
  4. FYS777

    FYS777 LawnSite Silver Member
    Posts: 2,305

    i hear what your saying there!!!!!!!!!!:cry:
     
  5. fool32696

    fool32696 LawnSite Senior Member
    Posts: 991

    I come to realize that paying taxes is a part of life. I'd rather owe 1 million in taxes than $1000, because it means I'm making a lot more money. I owe far more than $1800 this year, no complaints from me.
     
  6. Scagmower48

    Scagmower48 LawnSite Senior Member
    Posts: 430

    Yeah if you owe $1800, congratulations you turned a profit. If you don't want to pay this year, try expensing your equipment instead of depreciating it if you haven't already.
     
  7. joel29m

    joel29m LawnSite Senior Member
    Posts: 646

    I got it straight. They owed me about 200 dollars, I keyed some stuff in there twice, but next year I will owe.
    Posted via Mobile Device
     
  8. joel29m

    joel29m LawnSite Senior Member
    Posts: 646

    this is what happened, i have a fulltime day job that took taxes out to cover my federal and state. when i keyed in my info for my business, i keyed in my assets for depreciation and it was also included in the receipts i keyed in, so it said i made -gross sales of 1800. but figuered it out and they owed me 214.00 in fed and 300. in state.
     
  9. FYS777

    FYS777 LawnSite Silver Member
    Posts: 2,305

    i will trade your amounts with mine. o come on please trade.:cry::cry:
     
  10. joel29m

    joel29m LawnSite Senior Member
    Posts: 646

    ha ha..... im guessing you made good profits, thats damn good, and uncle sam's saying the same and you know why......lol
     

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