Thread Rating:

LarryS
LarryS
Joined: Feb 26, 2011
  • Threads: 67
  • Posts: 1410
March 21st, 2014 at 8:16:09 PM permalink
Quote: s2dbaker

Quote: AZDuffman

Quote: s2dbaker

Check it out y'all. Matt Drudge paid his Obamacare Liberty Tax a full year early!! What a patriot!



Actually, no.

As a self-employed person, Matt is subject to quarterly payments, which collect Obamacare now.

That's hilarious! They can't even admit that they got caught lying. The due date for taxes, even if you have to pay quarterly is April 15. So at the very least, taking his lying words at face value, Drudge is paying all of his estimated taxes nearly a month early. What a turkey!



how can you assume he is paying anything. If he is getting a refund he can pay his penalty by getting less in his return.

If he is getting money back..he can do both...he can pay his penelty and as soon a possible send it in.

whats the big deal...where is the lie
Dalex64
Dalex64
Joined: Feb 10, 2013
  • Threads: 1
  • Posts: 1067
March 21st, 2014 at 9:33:20 PM permalink
Quote:


how can you assume he is paying anything. If he is getting a refund he can pay his penalty by getting less in his return.

If he is getting money back..he can do both...he can pay his penelty and as soon a possible send it in.

whats the big deal...where is the lie



I think some of you are confusing two tax years.

His 2013 taxes are due Apr 15. He may or may not be getting a refund. There is no obamacare penalty for this tax year.

His first quarterly tax payment for tax year 2014 is also due apr 15. Only a quarter of his estimated taxes are due then. You do not get estimated quarterly refunds. So he is paying a quarter of his obamacare penalty.

There were no lies. He is paying at least part of his obamacare penalty for the 2014 tax year, which for most other people will be due in 2015

The big stink is people are accusing him of lying, since no obamacare tax is due for his 2013 taxes, which is true. What they failed to understand is that he is paying part of his 2014 taxes.

I don't think it matters at all that he is paying a month early. I never wait until the last minute either.


I might be mistaken when quarterly taxes are due. Perhaps they are due at the end of the first quarter, which is the end of this month.
Beethoven9th
Beethoven9th
Joined: Jul 30, 2012
  • Threads: 75
  • Posts: 5072
March 21st, 2014 at 11:54:54 PM permalink
Quote: s2dbaker

That's hilarious! They can't even admit that they got caught lying. The due date for taxes, even if you have to pay quarterly is April 15. So at the very least, taking his lying words at face value, Drudge is paying all of his estimated taxes nearly a month early. What a turkey!

Does s2dbaker even read what he quotes??? I think not.

FYI, s2, Drudge tweeted about PAYING the Obamcare penalty. He said nothing about the due date for his quarterly taxes. Duh!
Fighting BS one post at a time!
Beethoven9th
Beethoven9th
Joined: Jul 30, 2012
  • Threads: 75
  • Posts: 5072
March 21st, 2014 at 11:57:48 PM permalink
Quote: Dalex64

I might be mistaken when quarterly taxes are due. Perhaps they are due at the end of the first quarter, which is the end of this month.


Deadlines for quarterly payments for 2014 are: April 15, June 16, September 15, and January 15.
Fighting BS one post at a time!
s2dbaker
s2dbaker
Joined: Jun 10, 2010
  • Threads: 51
  • Posts: 3259
March 22nd, 2014 at 3:57:01 AM permalink
Quote: LarryS

how can you assume he is paying anything. If he is getting a refund he can pay his penalty by getting less in his return.

If he is getting money back..he can do both...he can pay his penelty and as soon a possible send it in.

whats the big deal...where is the lie

If he pays his taxes quarterly, how is he going to get a refund? Drudge hasn't paid anything for tax year 2014 yet (2014 is when the Liberty Tax takes effect). You can't get a refund from the government for taxes that you haven't paid. People who owe taxes to the government do not pay three weeks early, especially an Obama-hater like Drudge. He's either a liar or stupid, probably both.
Someday, joor goin' to see the name of Googie Gomez in lights and joor goin' to say to joorself, "Was that her?" and then joor goin' to answer to joorself, "That was her!" But you know somethin' mister? I was always her yuss nobody knows it! - Googie Gomez
Beethoven9th
Beethoven9th
Joined: Jul 30, 2012
  • Threads: 75
  • Posts: 5072
March 22nd, 2014 at 4:25:10 AM permalink
Quote: s2dbaker

If he pays his taxes quarterly, how is he going to get a refund?

Do you know what the word "estimated" means in "estimated taxes"? If he has overpaid after making all of his quarterly payments, then he will get a refund. Duh!


Quote: s2dbaker

People who owe taxes to the government do not pay three weeks early, especially an Obama-hater like Drudge. He's either a liar or stupid, probably both.

It's pretty obviously that you either have never run a business before or don't know what you're talking about. Probably both!
Fighting BS one post at a time!
Dalex64
Dalex64
Joined: Feb 10, 2013
  • Threads: 1
  • Posts: 1067
March 22nd, 2014 at 5:13:18 AM permalink
Quote: s2dbaker

People who owe taxes to the government do not pay three weeks early, especially an Obama-hater like Drudge. He's either a liar or stupid, probably both.



That is an opinion, and it is difficult to argue with an opinion. Since I don't know for a fact that Drudge has done what he has said, I will instead offer a counterexample and opinions of my own:

I, personally, have paid my taxes early. Usually 2 to 4 weeks early, if memory serves.

I am not a liar (on this statement about when I have paid my taxes, at least) and I am not stupid.

I have no proof or citations that I am not a liar and am not stupid.

It is my opinion that Drudge is telling the truth, and has made an estimated 2014 tax payment, which includes part or all of the penalty tax.

I can't think of any good reason not to take him at his word on this.
SOOPOO
SOOPOO
Joined: Aug 8, 2010
  • Threads: 115
  • Posts: 8716
March 22nd, 2014 at 5:26:06 AM permalink
Quote: s2dbaker

If he pays his taxes quarterly, how is he going to get a refund? Drudge hasn't paid anything for tax year 2014 yet (2014 is when the Liberty Tax takes effect). You can't get a refund from the government for taxes that you haven't paid. People who owe taxes to the government do not pay three weeks early, especially an Obama-hater like Drudge. He's either a liar or stupid, probably both.



I pay estimated taxes and get a big refund every year. To protect yourself from a penalty, you are required to pay 110% of last years taxes for the year you are paying the estimated taxes. As an example, if I made $1,000,000 the previous tax year, and my taxes were $350,000, I am required to pay $385,000 in estimated taxes to prevent a possible penalty if I end up doing better the next year. If I make $1,200,000 and when all is said and done my tax bill would be $420,000, if I paid the $385,000 in estimated taxes I would have no penalty for the $35,000 shortfall; I would just have to pay it by April 15. If I paid less than the 110%, in addition to making up the difference, there is a fine, penalty, interest, etc... that would be due. If you are in a business where your income varies a good bit from year to year, you get caught in the overpaying trap in years your income does not go up. I look at it as I am just giving my friends, the federal government, an interest free loan.... And since my available 'free cash' is earning close to zero percent interest, I sometimes mail my estimated taxes in early.... As I'm going to the accountant on Monday I may send it in then!
RonC
RonC
Joined: Jan 18, 2010
  • Threads: 40
  • Posts: 4874
March 22nd, 2014 at 5:46:21 AM permalink
Would someone care to admit that it is at least possible that the Drudge tax payment story is 100% true...or will ignoring the experiences of a couple of members who are self-employed and have done the same thing and continuing to call Drudge a liar be the way he goes??
AZDuffman
AZDuffman
Joined: Nov 2, 2009
  • Threads: 229
  • Posts: 12735
March 22nd, 2014 at 6:17:17 AM permalink
Quote: Dalex64



I can't think of any good reason not to take him at his word on this.



Because liberals are still trying to destroy him for breaking the story that CBS was covering up the story on Clinton and Lewinsky. They can't find much to attack Drudge for in his personal life as the guy is a near-hermit so when anything happens they jump all over it. With Obama having the terrible month he has had they wanted to distract all the more.

Didn't work.
All animals are equal, but some are more equal than others

  • Jump to: