Quote:
Originally Posted by johnny630
paying taxes it’s a good problem to have it usually means you’ve done well on your cards :-) accept it and pay it. Don’t get wrapped up in trying to avoid taxes.
Quote:
Originally Posted by cammb
wtf????
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Tomato, tomahto.
Avoiding taxes--> perfectly legal, and encouraged (in some cases, even required)
Evading taxes--> criminal activity
Keep track of your costs, and report everything completely. Be a Boy Scout.
Not to play the scare card, but the conventional view is that you need to keep tax records for three years. That's how long the IRS has to begin an examination, But if they see a continuing pattern, they can go back farther--almost certainly farther than you've kept records.
I know there are quite a few people on this forum who are thinking, "Criminal? Whatchu talkin' 'bout, Willis?" The question is, how big a fish are they going to have to catch for you to get religion? The IRS knows that if they catch a whale everyone from the sharks down to the minnows is paying attention.
Full disclosure, my status as an enrolled agent, and so my livelihood, depends on being squeaky clean with my taxes. I even report the cash tips I get as a volunteer bartender at my local town theater.
Bill
01-02-2022, 11:40 AM
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