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Saucy

4k in taxes

by
Not in tax return, but in what I owe.
I don't know yet what I'll do, bc I already struggle with finishing to pay what I owed last year, but more commissions wouldn't hurt

http://notreallydaily.com/furries/furry-commissions/

Or if you've got some change; https://ko-fi.com/saucymcfuzzy
Viewed: 110 times
Added: 3 weeks, 5 days ago
 
Otlan
3 weeks, 5 days ago
I stll have to get my taxses done before the IRS comes looking for my ass -_- . Best of luck Saucy!
Saucy
3 weeks, 5 days ago
Please get them done on time... I've heard it can get real bad if you're late
Otlan
3 weeks, 5 days ago
Well unfortently, I didn't have much choice -_- . I'll get em done though, no worries.
mouse24
3 weeks, 5 days ago
The self employed or small business owners usually get screwed in a red administration.
Saucy
3 weeks, 5 days ago
I'm in Canada (Quebec) and it's bad for freelancers....
mouse24
3 weeks, 5 days ago
Ah, I have no real info on tax laws there.
ThaPig
3 weeks, 5 days ago
My experience is the opposite.
YMMV.
mouse24
3 weeks, 5 days ago
Its that way here, big box places got a lot of sweet heart deals, small independent places like where I work noticed a steep increase in the amount paid.
Kokatsuna
3 weeks, 5 days ago
damn! i've never had to owe taxes before so that sounds terrible D:

i just know my bro never got his tax refund cuz it all went into child support.

Hope things get better for you
Saucy
3 weeks, 5 days ago
I've had taxes to pay for the last 3 years, and the amount keeps increasing, partly because I have to find ways to make more money to be able to pay that.... It's a vicious circle.
ThaPig
3 weeks, 5 days ago
They don't really go after you unless you owe like 10 000 or more.
Try not to panic. Call them and as for a payment plan, they will give you a way to pay it little by little.

The only time I had to pay back a lot of money I let it roll and they simply took it out of my next return.
Saucy
3 weeks, 5 days ago
The most time they can give me is 12 months, which isn't enough bc 300 a month is much more than I can afford.
Anri
3 weeks, 5 days ago
I am curious, are you deducting the taxes as your commission money comes in and setting it aside? If not that would explain the size of the bills.
Saucy
3 weeks, 5 days ago
I'm not, but even then that amount feels incredibly expensive, seeing as I make less than 25k a year before taxes... And almost $500 a month goes towards paying back loans/credit debt. So that's already $6000 a year that isn't usable... with that $4000 that's about $10,000 I gotta somehow find in the year in order not to have fees to pay orz
Anri
3 weeks, 5 days ago
It seems like a lot but it's what they take. I got screwed by this when I was working two jobs but because I was making under 10K a year at one of those jobs, they didn't take taxes off. The bill ended up kinda big. My total income per year at that time was about 20K or less. (all Canadian of course)
Saucy
3 weeks, 5 days ago
I know.. I'm just scared that I won't be able to pay...
If I end up needing to pay it all this year it'll be about $150 more a month that I'll need to find somehow, and I already don't have even $20 left at the end of the month
Anri
3 weeks, 5 days ago
Absolutely call Revenue Canada, they can be quite understanding if you work with them. I also suggest taking your taxes off incoming commission payments and setting them aside in a separate account. It's easier to plan work and/or expenses when you know what you have instead of waiting for the big bill at the year's end.
Saucy
3 weeks, 4 days ago
Yeah I'm just waiting for access to my files before I did anything
nanari
3 weeks, 4 days ago
There is something majorly wrong if you owe that much and your net income is at that amount. Are you doing your taxes yourself or through a specialist? Are you primarily self-employed or is it a combination of income streams? Are they student loans? Are you deducting the right things for any home work you're doing (commission)?

This sounds like there's either some major mistake going on or something is being left out. I'm also Canadian and while I don't have any self-employment I do have bonus, on-call, and standby that I have to deal with that leaves me owing at the end of each year; but thanks to using deductions I'm able to clear it all out and my net is slightly positive above zero.

If you need help I can offer what I know (though it's admittedly limited) but it may be better to speak to a tax specialist (and I don't mean H&R Block :) ).
Saucy
3 weeks, 4 days ago
It's apparently the same for every freelancers this year, sadly. I'm still gonna get someone to look over everything tho
mouse24
3 weeks, 5 days ago
Ah
Chatin
3 weeks, 5 days ago
Not familiar with canadian laws, but here in the US I just let them sit on it.

I've owned my state money for the last three years when I've never owed before and I simply don't have 400+ dollars to throw at them, so they can just take it from me later. Not sure about canada, but if you don't have any income I'm not sure what they can do if at all.
Saucy
3 weeks, 5 days ago
They can freeze my bank account and take everything that gets into it to put it towards what I owe...
KevinSnowpaw
3 weeks, 5 days ago
I have no idea what your tax situation is and Ive no intention of prying but holy shit 4k owed? is that comeing from some kind of property tax or something? thats... that seems SUPER high especialy if your not moderately well to do. O_O thats nuts I could never pay that.
thefluffiest1
3 weeks, 5 days ago
I hate taxes, I can't even file this year for bizarre reasons, I wish you much luck and fortune.
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