Post B4JmjMpfP4QRFh1eWO by alessandro@mstdn.ca
 (DIR) More posts by alessandro@mstdn.ca
 (DIR) Post #B4Jl52MvxzwqFSn7y4 by mwl@io.mwl.io
       0 likes, 0 repeats
       
       In February of every year, the US government says that I'm supposed to estimate my income for the coming year so that I can pay taxes each quarter.Utterly impossible.I could not have predicted that a 2024 book would go viral, or that Trump would shatter 2025's economy.Instead, I've taken to totaling my quarterly income and sending the government a chunk of what came in that quarter. Pick a quarter, I might make $1,500 or $30k. My quarterly payments look drunk.But the accountant says I don't owe anything for 2025, so I'll call that a win.
       
 (DIR) Post #B4JlmGWVDW0kbDsbxY by djfiander@code4lib.social
       0 likes, 1 repeats
       
       @mwl So, the "Have Spacesuit, Will Travel" philosophy of income taxes.
       
 (DIR) Post #B4JlwpsobY35A6MBAu by mwl@io.mwl.io
       0 likes, 0 repeats
       
       @djfiander I will sit over a drink and argue about Heinlein at length.But when the dude was right, he was *right.*
       
 (DIR) Post #B4JmjMpfP4QRFh1eWO by alessandro@mstdn.ca
       0 likes, 0 repeats
       
       @mwlI'm Canada it's quarterly instalments of 1/4 of *last year's* taxes, which is still imperfect but at least a bit easier to manage. At tax time you get a refund or pay the balance, depending on whether you over or underpaid.
       
 (DIR) Post #B4JmjN0IlWvrmg0968 by mwl@io.mwl.io
       0 likes, 0 repeats
       
       @alessandro they suggest doing that here. Probably works okay for normal businesses.But 2024 was a freak year with double usual income, thanks to a viral Kickstarter. 2025 was a baaad year. No way I could pay that.
       
 (DIR) Post #B4KFGAaElLhXXHEpvc by fwaggle@moodoo.org
       0 likes, 0 repeats
       
       @mwl Real talk, at the best of times the IRS would likely leave you alone if you ended the year owing very little or owed a refund, regardless of what you do. IIRC you only owe penalties for not making quarterly payments based on what you owe at filling?And now, in the worst (so far) of times? They're so underfunded you could probably get away with a whole heap of fuckery if one were so inclined.